XOM · 10-Q · 2026Q1

EXXON MOBIL CORP

Filed 2026-05-04 · Energy · View original filing on EDGAR

Ranked Events

• Income Tax Rate ChangesImportance 84 · Surprise 74
  Total taxes were $9.3 billion for the first quarter, a decrease of $1.4 billion from the prior year, with income tax expense of $2.5 billion versus $3.6 billion previously. The effective income tax rate was 40%, up 6…
• Operating Working Capital IncreaseImportance 84 · Surprise 74
  Notes and accounts receivable (net) rose to $61.8 billion from $44.6 billion at year-end, a large increase in receivables during the quarter that materially affected working capital. Accounts payable and accrued…
• Operating Cash Flow TrendsImportance 84 · Surprise 74
  Cash flow from operations and asset sales in the first quarter was $8.9 billion, a decrease of $5.9 billion from the comparable period. Net cash provided by operating activities totaled $8.7 billion for the first three…
• Capital Expenditure GuidanceImportance 80 · Surprise 68
  The Corporation plans to invest in the range of $27 billion to $29 billion for the year, with cash capex in the first quarter of $6.2 billion (up $0.3 billion from the prior year quarter). Management states actual…
• Net Income DeclineImportance 79 · Surprise 92
  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…
• Structural Cost SavingsImportance 69 · Surprise 50
  ExxonMobil reports cumulative Structural Cost Savings of $15.6 billion versus 2019 levels, including $0.6 billion realized in the first three months of the year. Structural savings are defined as sustainable reductions…
• Income Tax Expense and RateImportance 66 · Surprise 74
  Income tax expense was $2,495 million for the first quarter, down from $3,567 million in the prior-year quarter, a decrease of approximately $1,072 million (about 30%). The effective income tax rate was 40 percent in…
• Guarantees and contingent liabilitiesImportance 64 · Surprise 42
  The Corporation discloses contingent liabilities for guarantees as of March 31, 2026, including equity company obligations (ExxonMobil share) of $5,832 million and other third‑party non‑debt‑related obligations of…
• Advantaged Volume GrowthImportance 63 · Surprise 50
  The company defines Advantaged Volume Growth as earnings from advantaged assets/projects and high‑value products, explicitly calling out Permian, Guyana and LNG as advantaged assets. ExxonMobil attributes an increase…
• Outstanding IndebtednessImportance 61 · Surprise 32
  Total debt at the end of the first quarter was $47.7 billion, up from $43.5 billion at year-end, an increase of $4.2 billion. Net debt (total debt less $8.4 billion of cash and cash equivalents) implied approximately…
• Liquidity and Cash PositionImportance 61 · Surprise 66
  ExxonMobil increased short-term borrowing activity in the quarter, recording a $9.1 billion addition in commercial paper and short-term debt flows while reducing longer-term debt modestly. Cash and cash equivalents…
• Commodity Derivatives ImpactsImportance 59 · Surprise 60
  The Corporation reported before‑tax realized and unrealized losses on commodity derivatives of $3.8 billion for the period ended March 31, 2026. Estimated timing effects related to unsettled derivatives reduced…
• Investing Activities IncreaseImportance 58 · Surprise 56
  Investing activities used net cash of $6.0 billion in the first three months, an increase of $1.9 billion versus the prior year. Spending for additions to property, plant and equipment was $6.5 billion in the quarter,…
• Operating Expense TrendsImportance 54 · Surprise 40
  Depreciation and depletion expense (includes impairments) increased to $6,771 million in the three months ended March 31, 2026 from $5,702 million a year earlier, an increase of $1,069 million (≈19%). Management cites…
• Upstream Production VolumeImportance 54 · Surprise 40
  Upstream reported total segment earnings of $5,737 million in 1Q 2026, down from $6,756 million in 1Q 2025, a decrease of $1,019 million year-over-year. Oil-equivalent production was 4,594 thousand barrels per day in…
• Middle East Supply DisruptionsImportance 53 · Surprise 60
  The filing attributes lower base volumes (decreased earnings by $260 million) and an identified-item loss of $706 million to supply disruptions in the Middle East that prevented physical shipments. These disruptions…
• Chemical Products Volume Growth and Margin CompressionImportance 50 · Surprise 58
  Chemical Products reported compressed margins that decreased earnings by $340 million due to lower realizations and increased feed costs. At the same time, worldwide Chemical Products sales increased to 5,358 thousand…
• LNG Supply and PricingImportance 50 · Surprise 42
  Significant LNG supply declines in March resulted in higher LNG prices in Europe and Asia, pushing natural gas prices above the 10‑year average. The spike in LNG and gas prices affected regional natural gas markets and…
• Refining Margin TrendsImportance 48 · Surprise 24
  Feedstock shortages in March led to lower refinery runs in the Middle East and Asia and kept global industry refining margins above the 10‑year historical range. Higher refinery margins, together with higher crude and…
• Energy Products Margin StrengthImportance 46 · Surprise 42
  Energy Products margins increased earnings by $2,420 million in the quarter, with the company citing strong results from trading and optimization as contributors. The margin improvement is reported separately from…

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