ExxonMobil reported $15.4 billion in GAAP earnings for the third quarter of 2026. Management raised the dividend 4% and plans to keep share repurchases at $20 billion in 2027, assuming reasonable market conditions.
ExxonMobil reported $15.4 billion in generally accepted accounting principles (GAAP) earnings for the third quarter, plus $25.7 billion in cash flow from operations, on its earnings call held on Oct. 30, 2026. Management raised the dividend by 4%, which marks its 44th consecutive annual increase.
Refinery upgrades lift energy products earnings
Management upgraded key refineries to capture higher distillate yield, the percentage of refined output turned into diesel and jet fuel. Lower-cost reconfigurations at U.S. Gulf Coast facilities have helped triple unit profits in energy products since 2019.
$20 billion buyback plan runs through 2027
The company committed to $20 billion in annual share buybacks through 2027. Chairman and Chief Executive Officer Darren Woods said the company plans to maintain repurchases at $20 billion in 2027, assuming reasonable market conditions.
Cost savings reach $16.9 billion
Structural cost savings have reached $16.9 billion since 2019. According to Woods, the company is targeting cumulative savings: "well on our way to $20 billion of cumulative savings by 2030".
Chief Financial Officer Neil Hansen said projects are being delivered at 20% lower cost and 20% faster scheduled time. Looking ahead, the company's focus remains on capital discipline, production growth in the Permian Basin oilfield, and expanding liquefied natural gas (LNG) positions in Mozambique and Papua New Guinea.
Source: The Motley Fool
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