XOM Q2 2026 — Preliminary Earnings Alert
Event: Quartr Q2 2026 event Retrieved: 2026-07-31T18:32:35Z
Consensus scorecard
- Revenue: API Ninjas estimate is $109.94B; the Quartr release highlights did not provide a directly comparable consolidated-revenue figure.
- GAAP EPS: $3.48 vs. consensus (API Ninjas estimate: $3.56; local difference: -$0.08).
- Adjusted EPS: $3.52 vs. consensus (API Ninjas estimate: $3.56; local difference: -$0.04). The release highlights both GAAP and adjusted EPS, so neither EPS line receives a formal beat/miss label.
Reported results and guidance
- Q2 GAAP earnings were $14.5 billion ($3.48 per share); adjusted earnings were $14.7 billion ($3.52 per share).
- Cash flow from operations was $23.6 billion and free cash flow was $17.2 billion.
- Fifth Guyana FPSO start-up remains targeted for Q4 2026, adding 250 Kbd capacity.
Key bullish aspects
- Cash flow from operations was $23.6B and free cash flow was $17.2B despite the disruption to upstream production.
- Record non-Middle East upstream production and the planned Q4 startup of the fifth Guyana FPSO underpin the next leg of capacity growth.
Key bearish aspects
- The reported GAAP and adjusted EPS figures are each below the displayed API Ninjas estimate, though the dual EPS presentation makes a formal beat/miss label inappropriate.
- Middle East disruptions temporarily reduced upstream production by about 10%, exposing the earnings base to geopolitical interruptions.
Key uncertainties
- The key question is whether Guyana growth and refining strength can more than offset further Middle East disruption and commodity-price volatility.