How large are the Middle East-related hedge losses in ExxonMobil’s 1Q 2026 outlook?

Supply disruptions in the Middle East prevented some physical shipments that were hedged with financial derivatives, creating an estimated earnings impact of $0.8 to $0.6 billion. ExxonMobil classifies this range as an Identified Item, separate from underlying operating performance in its first-quarter 2026 considerations.

Middle East conflict, $3.5–$4.9B timing hit for ExxonMobil (XOM)

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

ExxonMobil provides first-quarter 2026 earnings considerations and a detailed update on how Middle East disruptions and commodity markets may change results versus 4Q 2025. Management expects first-quarter earnings per share to be higher than fourth quarter, excluding unfavorable timing effects from derivatives and price moves.

The company reports 4Q 2025 U.S. GAAP earnings of $6.5 billion and non-GAAP earnings excluding Identified Items of $7.3 billion. For 1Q 2026, changes in liquids prices are estimated to add $1.9–$2.3 billion to Upstream earnings and gas prices $0.2–$0.6 billion, partly offset by margin shifts and maintenance.

Higher quarter-end prices are expected to create negative timing effects of about ($4.9) to ($3.5) billion, including a separate ($0.8) to ($0.6) billion hedge loss classified as an Identified Item. Middle East disruptions are projected to cut global oil-equivalent production by roughly 6% and lower Energy Products throughput by about 2% versus 4Q 2025. Management also highlights long-term growth actions, including targeting 1.8 million oil-equivalent barrels per day of Permian production in 2026 and first LNG production from Golden Pass Train 1.

Insights

Higher underlying EPS but large negative timing and conflict impacts

ExxonMobil signals that first-quarter 2026 earnings per share should exceed fourth-quarter 2025 levels when excluding timing effects. Supportive factors include estimated gains of $1.9–$2.3B from higher liquids realizations and $0.2–$0.6B from better gas prices in the Upstream segment.

However, sharp commodity price increases between December 31, 2025 and March 31, 2026 are expected to drive negative timing effects of about ($4.9) to ($3.5)B, mainly in Energy Products, equivalent to roughly $0.93 per share at the midpoint. These effects reverse over time but pressure reported GAAP results in the quarter.

Geopolitical disruptions further weigh on volumes: Middle East assets, which represent about 20% of 2025 global oil-equivalent production, are projected to reduce first-quarter production by around 6% versus 4Q 2025 and lower Energy Products throughput by about 2%. Offsetting this, management emphasizes execution levers like increasing Permian output to 1.8 million oil-equivalent barrels per day in 2026 and ramping Golden Pass LNG, which may support future earnings beyond the quarter.

8-K Event Classification

4 items: 0.0, 0.1, 0.2, 7.01

4 items

Item 0.0 Item 0.0

Item 0.1 Item 0.1

Item 0.2 Item 0.2

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Key Figures

4Q 2025 GAAP earnings: $6.5 billion 4Q 2025 earnings excluding Identified Items: $7.3 billion Liquids price uplift: $1.9–$2.3 billion +5 more

8 metrics

4Q 2025 GAAP earnings $6.5 billion Corporate total earnings for 4Q 2025

4Q 2025 earnings excluding Identified Items $7.3 billion Non-GAAP earnings for 4Q 2025

Liquids price uplift $1.9–$2.3 billion Estimated 1Q 2026 Upstream earnings impact vs 4Q 2025

Gas price uplift $0.2–$0.6 billion Estimated 1Q 2026 Upstream earnings impact vs 4Q 2025

Negative timing effects ($4.9) to ($3.5) billion Estimated 1Q 2026 corporate earnings impact from timing effects

Middle East hedge Identified Item ($0.8) to ($0.6) billion Estimated 1Q 2026 loss isolated as Identified Item

Production impact from Middle East ~6% reduction Expected 1Q 2026 global oil-equivalent production vs 4Q 2025

Permian production target 1.8 million oil-equivalent barrels per day Planned Permian output level in 2026

Key Terms

Earnings (loss) excluding Identified Items, timing effects, mark to market, LIFO, +2 more

6 terms

Earnings (loss) excluding Identified Items financial

"4Q25 earnings (loss) excluding Identified Items (non-GAAP)"

timing effects financial

"These are referred to as timing effects. In periods of rising prices"

mark to market financial

"open financial derivatives to be marked to current period-end prices (typically referred to as mark to market)"

Mark to market is an accounting practice that records the value of an asset or liability at its current market price instead of its original purchase cost. For investors, it means a company's reported earnings, balance sheet and capital ratios change as market prices move—like updating a price tag each day—so reported profits and risk can fluctuate quickly with market swings.

LIFO financial

"valued on the balance sheet in inventory based on LIFO accounting rules"

An accounting method that assumes the most recently acquired inventory items are sold first, so the newest costs flow into cost of goods sold while older costs stay on the balance sheet. Imagine a stack of boxes where you take from the top; when prices are rising, that top-first approach produces higher reported costs and lower reported profits, which can reduce taxes and change profit margins. Investors watch LIFO because it affects reported earnings, tax liabilities, and how comparable a company’s performance is to peers.

forward-looking statements regulatory

"are forward-looking statements within the meaning of the Private Securities Litigation Reform Act"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Regulation FD regulatory

"In accordance with Regulation FD, we are hereby providing notice"

Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.

Understanding 8-K Material Events →

04/08/2026 - 06:45 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 8, 2026

Exxon Mobil Corporation

(Exact name of registrant as specified in its charter)


New Jersey	1-2256	13-5409005
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

22777 Springwoods Village Parkway, Spring, Texas 77389-1425

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (972) 940-6000


(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


		Name of Each Exchange
Title of Each Class	Trading Symbol	on Which Registered
Common Stock, without par value	XOM	New York Stock Exchange
0.524% Notes due 2028	XOM28	New York Stock Exchange
0.835% Notes due 2032	XOM32	New York Stock Exchange
1.408% Notes due 2039	XOM39A	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 7.01			Regulation FD Disclosure.
			The following information is furnished pursuant to Item 7.01.

INDEX TO EXHIBITS


Exhibit No.			Description

99.1			Exxon Mobil Corporation 1Q26 Earnings Considerations.

99.2			Update on impact of Middle East conflict on ExxonMobil activities.

104			Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	EXXON MOBIL CORPORATION


Date: April 8, 2026	By:	/s/ LEN M. FOX
		Len M. Fox
		Vice President, Controller and Tax
		(Principal Accounting Officer)

EXHIBIT 99.1

1Q 2026 Earnings Considerations

To give perspective regarding market and planned factors affecting 1Q 2026 results, we are providing the following summary of items management believes will impact 1Q 2026 results relative to 4Q 2025 results. These factors are generally limited to significant planned activities, market dynamics, and seasonal demand patterns. This quarter also includes additional factors associated with the ongoing situation in the Middle East and related disruptions. This is only intended to provide information regarding current estimates of these factors. It is not comprehensive of all changes between 4Q 2025 and 1Q 2026 results and is not an estimate of 1Q 2026 earnings for the Corporation. For example, the table below does not reflect operating performance; ongoing improvement initiatives; impacts from the seasonality of base operating expenses; unscheduled downtime; or foreign exchange fluctuation, among other factors. Further, this list may not account for all adjustments and charges required to fully reflect the changes in industry conditions and are subject to finalization of the Corporation’s financial reporting process for 1Q 2026.



$ billions	Upstream	Energy Products	Chemical Products	Specialty Products	Corp & Fin	Total
4Q25 earnings (loss), U.S. GAAP	3.5	3.4	(0.3)	0.7	(0.8)	6.5

4Q25 Identified Items
Divestments		0.7				0.7
Impairments	(1.1)	(0.3)	(0.3)	(0.0)		(1.7)
Restructuring costs					(0.1)	(0.1)
Tax-related Items	0.2	0.0	0.1	0.0	(0.0)	0.3

4Q25 earnings (loss) excluding Identified Items (non-GAAP)	4.4	2.9	(0.0)	0.7	(0.7)	7.3

Due to rounding, numbers presented above may not add up precisely to the totals indicated.

Estimated effects of market factors impacting 1Q 2026 results
Change in liquids prices1	1.9 - 2.3
Change in gas prices2	0.2 - 0.6
Change in industry margins3		0.0 - 0.4	(0.1) - 0.1	(0.4) - (0.2)
Change in timing effects4	(0.8) - (0.2)	(4.1) - (3.3)

Estimated effects of planned and seasonal factors, and other items impacting 1Q 2026 results
Change in scheduled maintenance	0.0 - 0.2	(0.6) - (0.4)	(0.1) - 0.1	(0.1) - 0.1
Estimated day effect (less days in 1Q26 versus 4Q25)	(0.4) - (0.2)	(0.2) - 0.0
Absence of year-end inventory effects	0.0	(0.3)	(0.0)	0.0
Volume disruptions related to Middle East events5	(0.5) - (0.3)	(0.3) - (0.1)

Identified Items
Other Middle East Impacts6		(0.8) - (0.6)

References and updates to previous guidance, not included in ranges above, from 4Q25 earnings call materials

• $500 million to $700 million of higher earnings from lower seasonal after-tax expenses, excluding DD&A, expected in the first quarter

• ($200) million to ($100) million of lower earnings primarily from non-Middle East lower volumes due to Upstream downtime

• ($1.1) billion to ($900) million of Corporate & Financing expenses

• Absence of Gravenchon refinery throughput

• Anticipated corporate total pre-tax DD&A of approximately $6.5 billion to $6.8 billion

Impacts on ExxonMobil assets as a result of disruptions in the Middle East region

• Upstream assets in Qatar and the UAE, which accounted for approximately 20% of our 2025 global oil-equivalent barrels of production, were impacted by production disruptions beginning in early March

• Unavailability of crude deliveries impacting refinery throughput

Additional details on the company's status in the Middle East and globally are attached in Exhibit 99.2

Accounting for timing effects

Physical shipments of hydrocarbons and finished products are often hedged using financial derivatives in the normal course of business. At the end of each quarter, accounting standards require open financial derivatives to be marked to current period-end prices (typically referred to as “mark to market”) with the corresponding value reflected in current period earnings. The associated physical shipments are not marked to current period-end prices but valued on the balance sheet in inventory based on LIFO accounting rules. As a result, unlike the financial derivatives, the value of the physical shipment is not reflected in earnings until the transaction is complete. This mismatch between the valuation of the financial derivatives and the associated physical transaction results in a timing difference in earnings that unwinds over subsequent quarters consistently delivering a net profit. LIFO valuation also drives timing differences between the accounting recognition of the settlement of the derivatives and their offsetting physical shipments. Together, these are referred to as timing effects.

In periods of rising prices, the timing effects are typically negative, while in periods of decreasing prices, the timing effects are typically positive. Importantly, excluding timing impacts, these trading and optimization activities have consistently delivered positive earnings to the Corporation. Crude and products trading activity, which accounted for the majority of timing impacts in the first quarter, is included in the Energy Products segment. Natural gas related impacts are included in the Upstream segment.

1 Change in liquids price includes impacts from the change in crude, condensate, and NGL realizations at prior period sales volumes.

2 Change in gas price includes impacts from the change in natural gas realizations (including LNG) at prior period sales volumes and settled gas trading.

3 Changes in industry margins are estimated market effects on crude and petroleum products, specialty basestocks, and chemicals at prior period volumes which include market impacts on trading in the respective segments.

4 Timing effects are primarily related to unsettled derivatives (mark-to-market) and other earnings impacts driven by timing differences between the settlement of derivatives and their offsetting physical commodity realizations (due to LIFO inventory accounting).

5 Volume disruptions related to Middle East events include impacts from production disruptions, shutdowns, and lower availability of crude deliveries impacting global manufacturing operations.

6 Other Middle East impacts include the loss on a settled financial hedge that was not offset by the associated physical shipment due to supply disruptions in the Middle East.

Outlooks, estimates, projections, and other statements of future financial impacts of certain factors as provided in this publication are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Actual future impacts of these certain factors for 1Q 2026 may vary from our estimates for a number of reasons, including additional unidentified factors related to: sales volume and sales mix numbers; supply and demand imbalances or changes including as a result of direct or indirect restrictions on production or escalating geopolitical volatility; regional pricing differentials and refining and chemical margins; fluctuations in feedstock prices; forecasts of economic growth or downturn; seasonal impacts on product demand and operating expenses; resolution of trading and derivative positions for the quarter; increases in integration benefits or costs of new start-ups or acquisitions; global and regional hostilities, including decoupling of economies, national or regional tariffs, trade disputes, border disputes, nationalizations, war, terrorism, threats to trade routes or freedom of navigation, or civil unrest and its impact on markets and our assets around the world; price impacts and the broader government responses to inflationary pressures; changes in interest and exchange rates; supply chain, shipping channel and trade network disruptions; planned cash and operating expense reductions; total capital expenditures and mix; maintenance costs and incidents; production shut-ins and mix; financing costs; the resolution of any contingencies and uncertain tax positions; environmental expenditures; impact of fiscal, contractual, and commercial terms applicable to the quarter; the outcome of commercial negotiations related to the quarter; the timing and regulatory approval of any acquisitions or divestments; regional differences for product demand; changes in consumer behavior including the impact of inflation and/or recession; actions by governments, independent administrative bureaucracies, international bodies or non-governmental organizations to increase our costs, decrease our ability to produce or replenish reserves, prohibit the export or sale of our products, or prevent the expansion of our low carbon solutions businesses; changes in asset valuation or estimates of fair value as of a certain date; updates or corrections of any estimate used herein; and other market conditions in or impacting the oil, natural gas, petroleum, and petrochemical industries. Furthermore, additional factors may exist that will be relevant to 1Q 2026 results that are not currently known or fully understood, including our participation in joint ventures or developments operated by third parties and other factors cited in Item 1A. Risk Factors of our most recent Annual and Quarterly Reports available on the Investors page of our website at www.exxonmobil.com. All forward-looking statements and the assumptions in this filing speak only as of the date hereof. We do not assume or undertake any obligation to update these forward-looking statements or assumptions as of any future date. Any future update or expansion of the forward-looking statements in this filing will be provided only through a public disclosure indicating that fact.

In accordance with Regulation FD, we are hereby providing notice the Company currently intends to furnish its 1Q 2026 financial results both (1) by posting them on our website at www.exxonmobil.com and (2) in a filing on Form 8-K in the Securities and Exchange Commission EDGAR system, each at approximately 5:30 a.m. CT Friday, May 1, 2026. In the event the EDGAR system experiences technical difficulties, or the Company is unable to successfully complete its 8-K filing at the intended time, investors and the public should look for this information at that time on our website. In case of a failed filing, the Company intends to furnish the information on EDGAR as soon as possible after 5:30 a.m. CT Friday, May 1, 2026.

EXHIBIT 99.2

Impact of Middle East conflict on ExxonMobil activities

SPRING, Texas – April 8, 2026 – ExxonMobil is providing this supplement to its first-quarter Earnings Considerations disclosure in light of the ongoing situation in the Middle East and related disruptions.

First-quarter earnings per share are expected to be higher than the fourth quarter of 2025, excluding unfavorable timing effects that will reverse over time.

Upstream

The Middle East assets represent approximately 20% of our global oil-equivalent production, but a smaller percentage of Upstream earnings.

Certain assets in Qatar and the UAE in which ExxonMobil holds ownership interests experienced production disruptions beginning in March. As a result, the Company expects Middle East disruptions to lower global oil-equivalent production by approximately 6% in first quarter compared with fourth-quarter 2025.

In Qatar, attacks in the first quarter impacted two LNG trains in which ExxonMobil has ownership interest. These assets accounted for approximately 3% of 2025 Upstream production. Public reports indicate the damage will take a prolonged period to repair. Pending an on-site evaluation, we are unable to comment on the length of time before the two trains return to normal operations.

Below is a summary of ExxonMobil Upstream investments in the Middle East region together with selected 2025 operating data.


Middle East - Upstream
	Working Interest	ExxonMobil Share
		2025 Liquids (kbd)	2025 Gas Available for Sale (Mfcd)	2025 Net Oil Equivalent Barrels (koebd)
Qatar
LNG Joint Ventures	24-30%	147	2,888	628
Al Khaleej Gas	80-100%
Barzan	7%

UAE
Upper Zakum	28%	312		312

Product Solutions

The Middle East assets represent approximately 5% of our global refining and chemical capacity.

The Company expects Middle East disruptions and reduced crude availability at Asia Pacific operations to lower global Energy Products throughput by approximately 2% in first quarter compared with fourth-quarter 2025.

Below is a summary of ExxonMobil Product Solutions investments in the region together with selected 2025 operating data.


Capacity At Year-End 2025 1
					ExxonMobil Interest %	ExxonMobil’s Share of Refining Capacity 2	Ethylene	Polyethylene	Polypropylene
						(thousands of barrels daily)	(millions of metric tons per year)
Middle East
Al Jubail	Saudi Arabia		▲	●	50	—	0.7	0.7	—
Yanbu	Saudi Arabia	■		●	50	200	1.0	0.7	0.2
Total Middle East						200	1.7	1.4	0.2

■ Energy Products ▲ Specialty Products ● Chemical Products

1 ExxonMobil share reflects 100 percent for operations of ExxonMobil and majority-owned subsidiaries. For companies owned 50 percent or less, ExxonMobil share is the greater of ExxonMobil’s interest or that portion of distillation capacity normally available to ExxonMobil.

2 Refining capacity data is based on 100 percent of rated refinery process unit stream-day capacities to process inputs to atmospheric distillation units under normal operating conditions, less the impact of shutdowns for regular repair and maintenance activities, averaged over an extended period of time. The listing excludes refining capacity for a minor interest held through equity securities in the Laffan Refinery in Qatar for which results are reported in the Upstream segment.

Timing effects

Timing effects vary quarter-to-quarter following the movement and magnitude of prices. The exhibit below provides the Brent price on the last day of each quarter over the last three years, and the resulting quarterly timing effects reflected in earnings.


Quarter-end Brent Price 3

	1Q23	2Q23	3Q23	4Q23	1Q24	2Q24	3Q24	4Q24	1Q25	2Q25	3Q25	4Q25
	80	75	92	77	87	85	72	74	75	67	66	60

Quarter Timing Effects (millions of dollars) 4

Given the significant increase in commodity prices between December 31, 2025, and March 31, 2026, the change in the timing effects from fourth quarter is approximately ($4.9) to ($3.5) billion. Approximately ($0.8) to ($0.2) billion is reflected in Upstream earnings related to natural gas transactions. Approximately ($4.1) to ($3.3) billion is reflected in Energy Products earnings related to transactions for crude and finished products. The midpoint of the first-quarter 2026 timing effects represents approximately $0.93 per share5.

In addition, the quarter-end cash balance will reflect outflows related to these timing effects due to cash margin postings of comparable value.

Identified items

As noted, physical shipments of hydrocarbons are often hedged with financial derivatives in the normal course of business. Supply disruptions in the Middle East prevented the physical shipment associated with several hedges in the first quarter. The resulting earnings impact of ($0.8) to ($0.6) billion is isolated within Identified Items in the Earnings Considerations.

3 Brent prices shown are the historic second-month forward prices at the end of each quarter, sourced from Bloomberg. Actual underlying commodity prices for ExxonMobil reported timing effects vary.

4 Timing effects shown for 2023 have been adjusted to reflect ExxonMobil’s current timing effects reporting basis.

5 Per-share calculation is estimated using an assumption of 4.2 billion average shares outstanding for the first quarter.

Look ahead

ExxonMobil is leveraging the strength of its integrated global system to support customers. We are increasing Permian production to 1.8 million oil-equivalent barrels in 2026, optimizing logistics and crude and product flows, and maximizing refinery throughput wherever safe and feasible.

In addition, Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, achieved first production of Liquefied Natural Gas (LNG) from Train 1 at its Sabine Pass terminal on March 30, 2026. This marks a significant milestone in our partnership with QatarEnergy, underscoring the strong foundation we have built together and our shared commitment to long-term value creation and increased global supply.

These actions reflect the Company’s unmatched scale, integration, and execution capability, which enable ExxonMobil to respond effectively to market disruptions.

Forward-looking statements. Outlooks, estimates, projections, and other statements of future financial impacts of certain factors as provided in this publication are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Actual future impacts of these certain factors for 1Q 2026 may vary from our estimates for a number of reasons, including additional unidentified factors related to: sales volume and sales mix numbers; supply and demand imbalances or changes including as a result of direct or indirect restrictions on production or escalating geopolitical volatility; regional pricing differentials and refining and chemical margins; fluctuations in feedstock prices; forecasts of economic growth or downturn; seasonal impacts on product demand and operating expenses; resolution of trading and derivative positions for the quarter; increases in integration benefits or costs of new start-ups or acquisitions; global and regional hostilities, including decoupling of economies, national or regional tariffs, trade disputes, border disputes, nationalizations, war, terrorism, threats to trade routes or freedom of navigation, or civil unrest and its impact on markets and our assets around the world; price impacts and the broader government responses to inflationary pressures; changes in interest and exchange rates; supply chain, shipping channel and trade network disruptions; planned cash and operating expense reductions; total capital expenditures and mix; maintenance costs and incidents; production shut-ins and mix; financing costs; the resolution of any contingencies and uncertain tax positions; environmental expenditures; impact of fiscal, contractual, and commercial terms applicable to the quarter; the outcome of commercial negotiations related to the quarter; the timing and regulatory approval of any acquisitions or divestments; regional differences for product demand; changes in consumer behavior including the impact of inflation and/or recession; actions by governments, independent administrative bureaucracies, international bodies or non-governmental organizations to increase our costs, decrease our ability to produce or replenish reserves, prohibit the export or sale of our products, or prevent the expansion of our low carbon solutions businesses; changes in asset valuation or estimates of fair value as of a certain date; updates or corrections of any estimate used herein; and other market conditions in or impacting the oil, natural gas, petroleum, and petrochemical industries. Furthermore, additional factors may exist that will be relevant to 1Q 2026 results that are not currently known or fully understood, including our participation in joint ventures or developments operated by third parties and other factors cited in Item 1A. Risk Factors of our most recent Annual and Quarterly Reports available on the Investors page of our website at www.exxonmobil.com. All forward-looking statements and the assumptions in this filing speak only as of the date hereof. We do not assume or undertake any obligation to update these forward-looking statements or assumptions as of any future date. Any future update or expansion of the forward-looking statements in this filing will be provided only through a public disclosure indicating that fact.

Earnings (loss) excluding Identified Items, are earnings (loss) excluding individually significant non-operational events with, typically, an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings (loss) impact of an Identified Item for an individual segment in a given quarter may be less than $250 million when the item impacts several segments or several periods. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The Corporation believes this view provides investors increased transparency into business results and trends, and provides investors with a view of the business as seen through the eyes of management. Earnings (loss) excluding Identified Items is not meant to be viewed in isolation or as a substitute for net income (loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. In accordance with Regulation FD, we are hereby providing notice the Company currently intends to furnish its 1Q 2026 financial results both (1) by posting them on our website at www.exxonmobil.com and (2) in a filing on Form 8-K in the Securities and Exchange Commission EDGAR system, each at approximately 5:30 a.m. CT Friday, May 1, 2026. In the event the EDGAR system experiences technical difficulties, or the Company is unable to successfully complete its 8-K filing at the intended time, investors and the public should look for this information at that time on our website. In case of a failed filing, the Company intends to furnish the information on EDGAR as soon as possible after 5:30 a.m. CT Friday, May 1, 2026.

Source: View Original Filing on SEC EDGAR

FAQ

How does ExxonMobil (XOM) expect 1Q 2026 EPS to compare with 4Q 2025?

ExxonMobil expects first-quarter 2026 earnings per share to be higher than the fourth quarter of 2025, excluding unfavorable timing effects. Those timing effects come mainly from derivatives and inventory accounting and are expected to reverse over subsequent quarters as related physical commodity transactions settle.

What timing effects are impacting ExxonMobil’s 1Q 2026 results?

ExxonMobil estimates negative timing effects of about $4.9 to $3.5 billion in first-quarter 2026, driven by higher commodity prices between December 31, 2025 and March 31, 2026. The midpoint impact is roughly $0.93 per share and largely reflects unsettled derivatives versus physical inventory accounting.

How is the Middle East conflict affecting ExxonMobil (XOM) production and throughput?

Middle East assets, about 20% of 2025 global oil-equivalent production, are expected to cut first-quarter production by around 6% versus fourth-quarter 2025. Disruptions and reduced crude deliveries are also projected to lower global Energy Products throughput by approximately 2% compared with the prior quarter.

What were ExxonMobil’s 4Q 2025 earnings and non-GAAP results?

For fourth-quarter 2025, ExxonMobil reported U.S. GAAP earnings of $6.5 billion. Excluding Identified Items such as divestments, impairments, restructuring, and tax-related items, earnings were $7.3 billion, which management uses to show underlying business performance across segments and periods.

What long-term capacity and growth steps does ExxonMobil highlight in this update?

ExxonMobil notes plans to increase Permian production to 1.8 million oil-equivalent barrels per day in 2026. It also reports first LNG production from Golden Pass Train 1, a joint venture with QatarEnergy, emphasizing integrated scale, logistics optimization, and maximizing refinery throughput where safe and feasible.

Filing Exhibits & Attachments

6 documents

Middle East conflict, $3.5–$4.9B timing hit for ExxonMobil (XOM)

Rhea-AI Filing Summary

Positive

Negative