What to Expect From Exxon Mobil’s Q3 2026 Earnings Report

Valued at a market cap of $733.7 billion, Exxon Mobil Corporation (XOM) is one of the world’s largest publicly traded energy companies, engaged in exploring, producing, transporting, and refining oil and natural gas. Through its Upstream, Product Solutions, and Low Carbon Solutions businesses, the Texas-based company also manufactures petrochemicals, fuels, lubricants, and specialty products while investing in lower-emission technologies such as carbon capture and storage, hydrogen, and lower-emission fuels.

XOM is expected to release its Q1 2026 earnings soon. Ahead of the event, analysts expect the company’s EPS to be $3.93 on a diluted basis, up 109% from $1.88 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.

For fiscal 2026, analysts project the company’s EPS to be $12.52, up 79.1% from $6.99 in fiscal 2025. 

XOM stock has surged 57.6% over the past 52 weeks, outperforming both the S&P 500 Index’s ($SPX) 16.2% rise, and the State Street Energy Select Sector SPDR ETF’s (XLE) 56.6% return during the same time frame.

Exxon Mobil has outpaced the broader market over the past year, supported by rising oil prices, stronger refining margins, and record production from key assets in the Permian Basin and Guyana. Its integrated business model has helped it capitalize on favorable energy markets, while structural cost savings and operational efficiencies have strengthened profitability. 

Adding to the optimism, ExxonMobil shares jumped 3% on Oct. 8, as a Gulf tanker attack disrupted traffic through the Strait of Hormuz and hurricane-related production shutdowns curtailed Gulf of Mexico output. The resulting supply squeeze pushed Brent crude above $104 per barrel and WTI to $92, boosting expectations for higher oil prices and stronger profitability for major energy producers.

Analysts are moderately bullish about XOM, with the stock having a “Moderate Buy” rating overall. Among the 25 analysts covering the stock, nine are recommending a “Strong Buy,” one recommends “Moderate Buy,” and 15 recommend “Hold.” While XOM currently trades above the mean price target of $172.92, the Street-high price target of $200 implies an upswing potential of 13% from the current market price.