XOM · 10-Q · 2026Q1 · Full report

Net Income Decline

EXXON MOBIL CORP · 2026-05-04 · Importance 79 · Surprise 92 · No source text

ExxonMobil reported net income attributable to the company of $4,183 million in 1Q 2026, down from $7,713 million in 1Q 2025, a decline of $3,530 million year-over-year. The MD&A attributes the decrease mainly to unfavorable mark-to-market effects, higher depreciation expense and Middle East volume impacts, partially offset by higher prices and margins, increased volumes from Guyana and the Permian, and structural cost savings. Corporate and financing items (including identified timing/derivative effects) reduced consolidated results and corporate reconciling items show a corporate and financing loss of approximately $1,053 million for the quarter. Earnings per share declined to $1.00 in the quarter from $1.76 a year earlier, reflecting the lower net income and share count movement.

Key facts

• Net income including noncontrolling interests was $4.5 billion, a decrease of $3.6 billion from the prior year period. source
• The review states first quarter earnings were $4.2 billion compared to $7.7 billion a year earlier, and cash capital expenditures were $6.2 billion, up $0.3 billion from first quarter prior year. source
• Net income (loss) including noncontrolling interests for the three months ended March 31, 2026: $4,472 million. source
• Net income (loss) attributable to ExxonMobil for the three months ended March 31, 2026: $4,183 million. source
• Comprehensive income attributable to ExxonMobil for the three months ended March 31, 2026: $3,948 million. source
• Earnings (loss) per common share for the three months ended March 31, 2026: $1.00. source

Impact estimates