ExxonMobil’s refining strength supports earnings and a 2027 buyback plan

ExxonMobil ($XOM) reported third-quarter 2026 net income of $15.4 billion, or $3.72 per share, and adjusted earnings of $17.5 billion, or $4.23 per share. Adjusted Energy Products earnings increased to $9.05 billion from $4.10 billion in the preceding quarter as margins improved. Upstream adjusted earnings moved the other way, falling to $7.31 billion from $9.19 billion, with lower prices and production-entitlement effects weighing on results.

Operating cash flow reached $25.7 billion and free cash flow was $19.1 billion. The company returned $9.4 billion through dividends and repurchases and announced plans for $20 billion of share buybacks in 2027, subject to reasonable market conditions. The planned amount is not a completed distribution. Adjusted profit excludes specified non-operating items and timing effects, explaining its difference from reported earnings.

Sources:

• investor.exxonmobil.com
• Reuters