By Julianne Geiger -Oct 30, 2026, 12:27 PM CDT
ExxonMobil reported $15.4 billion in third-quarter earnings Friday, more than double its incomes a year previously, with its Gulf Coast refineries performing at complete capability and diesel costs doing the rest.
The business made $3.72 per share, or$4.23 on an adjusted basis, beating Wall Street’s$4.08 price quote. Changed earnings reached$17.5 billion, making it among Exxon’s most rewarding quarters ever.
Exxon’s energy items company made$9.05 billion in adjusted revenue, up from $4.1 billion in the 2nd quarter. Its U.S. Gulf Coast refinery systems ran at 100% usage, producing their second-highest diesel volumes on record.
The Iran war and Ukrainian attacks on Russian refineries have actually sidelined approximately 10% of worldwide refining capability, leaving the staying plants to provide a market frantically except diesel and other fuels. Refining margins have actually skyrocketed, and Exxon is definitely maximizing them.
The business has actually likewise increased the quantity of fuel it can produce. Its Gulf Coast distillate output is up roughly 40% considering that 2019, assisted by the $2 billion Beaumont refinery growth finished in 2023. That task included 250,000 barrels daily of processing capability, a financial investment authorized years before today’s fuel scarcity.
Exxon’s upstream company had a less outstanding quarter. Changed profits was up to $7.3 billion from $9.2 billion in the 2nd quarter as unrefined rates relieved. Production held near 4.5 million barrels of oil comparable daily.
Exxon produced $25.7 billion in running capital and returned $9.4 billion to investors through dividends and stock repurchases, consisting of $5.1 billion in buybacks. It likewise increased its dividend for the 44th successive year and revealed prepare for another $20 billion in share repurchases in 2027.
With Exxon’s Gulf Coast refineries currently running at complete capability, additional production boosts will be hard without extra financial investment. Worldwide diesel products stay constrained by refinery damage in the Middle East and Russia, even as unrefined deliveries from the Persian Gulf recuperate.
By Julianne Geiger for Oilprice.com
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Julianne Geiger
Julianne Geiger is a veteran energy reporter and market expert with more than a years of experience covering the worldwide oil and gas sector. Her …
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