XOM · 10-Q · 2026Q3 · Full report

Segment Profitability

ExxonMobil Holdings Corp · 2026-11-02 · Importance 63 · Surprise 64 · Contradicted

Upstream third-quarter earnings were $7.088 billion, up from $5.679 billion a year earlier; higher crude and gas realizations added $3.680 billion, while Middle East volume impacts reduced earnings by $860 million. Energy Products earnings were $7.169 billion versus $1.840 billion, with a $1.980 billion unfavorable timing effect from derivatives partly offsetting stronger margins. Chemical Products earnings were $1.976 billion versus $1.081 billion, and Specialty Products earnings were $2.892 billion versus $2.175 billion. Nine-month Energy Products margin gains added $13.1 billion, while its identified items included a $1.897 billion loss from impairments and Middle East supply disruptions preventing hedged physical shipments.

Key facts

Upstream third-quarter earnings increased by $3,680 million on higher crude and gas realizations. source
Upstream year-to-date price effects increased earnings by $7,960 million, driven by higher crude realizations. source
Upstream third-quarter Middle East volume decreased earnings by $860 million due to disruption impacts. source
Upstream third-quarter advantaged volume growth decreased earnings by $90 million, mainly due to accelerated Guyana entitlement impact, partly offset by Guyana, Permian and LNG growth. source
Upstream third-quarter base volume decreased earnings by $200 million due to downtime and external impacts. source
Upstream year-to-date identified items included a $751 million loss from financial reserves, partly offset by gains on asset sales. source
Energy Products third-quarter advantaged volume growth increased earnings by $250 million through growth of advantaged capacity and optimization of assets and products. source
Energy Products year-to-date advantaged volume growth increased earnings by $660 million through growth of advantaged capacity and optimization of assets and products. source

Impact estimates

metric	direction	stage	expected	basis
operating_income	positive	realized	+7.0%	Upstream year-to-date price effects increased earnings by $7,960 million, driven by higher crude realizations.