Exxon beats earnings estimate despite hit from Iran war
Exxon Mobil beat adjusted earnings estimates for the first quarter with $1.16 per share, surpassing the $1.00 consensus, despite a drop in net income to $4.2 billion—the lowest in five years. The decline was driven by disrupted shipments from the Middle East conflict and negative timing effects from financial derivatives, though higher oil prices and increased production in the Permian Basin and Guyana helped offset losses. CEO Darren Woods emphasized the company's resilience, while CFO Neil Hansen noted the timing impacts may unwind in coming quarters.
- ▪Adjusted earnings were $1.16 per share, above the $1.00 estimate.
- ▪Net income fell to $4.2 billion, down from $7.7 billion in the same period of 2025.
- ▪About 20% of Exxon’s oil and gas production is in the Middle East, significantly impacted by the conflict.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountExxon Mobil XOM-N beat estimates for first-quarter adjusted earnings on Friday, though unadjusted profit dropped to its lowest level in five years due to disrupted shipments from the U.S.-Israeli war on Iran and a large negative impact from timing effects related to financial derivatives.Adjusted earnings for the first three months of the year were US$1.16 per share, above the consensus estimate of US$1.00 as compiled by LSEG. The adjusted figure excluded a US$700-million loss from cargoes that could not be delivered due to the war.Further excluding the impact from financial derivatives, earnings were US$2.09 per share.
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