ExxonMobil (XOM) Q3 2025 Financial Results Summary
Released on October 31, 2025
Exxon Mobil Corporation has reported its financial results for the third quarter of 2025, highlighting strong earnings and strategic investments. Here is an overview of the key financial metrics and events from the quarter.
Overview of Financial Performance
- Net Income: $7.5 billion
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This represents an increase of 6.6% compared to $7.1 billion in Q2 2025.
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Earnings Per Share (EPS): $1.76 per share
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An increase of 7.3% compared to $1.64 in Q2 2025.
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Cash Flow from Operations: $14.8 billion
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Up from $11.6 billion in Q2 2025, marking a 27.8% increase.
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Free Cash Flow: $6.3 billion
- Increased from $5.4 billion in Q2 2025.
Year-to-Date Performance
- Total Year-to-Date (YTD) Earnings: $22.3 billion
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Decreased by 14.3% compared to $26.1 billion in YTD 2024.
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EPS YTD: $5.16
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Down 15.7% from $6.12 YTD 2024.
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Overall Cash Flow from Operations YTD: $39.3 billion
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A decrease of 8.2% compared to $42.8 billion in YTD 2024.
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Total Shareholder Distributions: $27.8 billion
- Including $12.9 billion of dividends and $14.9 billion of share repurchases.
Shareholder Returns
- Quarterly Dividend: Increased to $1.03 per share
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This is a 4% increase from the previous dividend, continuing a streak of annual growth for 43 consecutive years.
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Total Shareholder Returns in Q3: $9.4 billion
- Breakdown includes $4.2 billion in dividends and $5.1 billion in share repurchases.
Operational Highlights
- Production Highlights:
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Set new production records:
- Guyana surpassed 700,000 barrels per day.
- Permian production reached 1.7 million oil-equivalent barrels per day.
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Projects:
- Started up eight out of ten key projects in 2025.
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The Yellowtail project in Guyana began production four months ahead of schedule.
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Growth Initiatives:
- Strategic acquisitions in the Permian Basin for 80,000 additional net acres.
- Investment in a next-generation supercomputer to enhance data processing capabilities.
Segment Performance
Upstream
- YTD Earnings (Upstream): $17.8 billion
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Down 5.8% from $18.9 billion in YTD 2024.
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Q3 Earnings: $5.7 billion
- An increase of 5.1% compared to Q2 2025.
Energy Products
- Year-to-Date Earnings: $4.0 billion
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Representing an increase of 11.1% from $3.6 billion in YTD 2024.
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Third Quarter Earnings: $1.8 billion
- An increase of 34.7% from $1.3 billion in Q2 2025.
Chemical Products
- Year-to-Date Earnings: $1.1 billion
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A decline of 57.0% compared to $2.5 billion in YTD 2024.
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Third Quarter Earnings: $515 million
- Up 75.9% from $293 million in Q2 2025.
Specialty Products
- Third Quarter Earnings: $740 million
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A decrease of 5.1% from $780 million in Q2 2025.
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Year-to-Date Earnings: $2.2 billion
- Down 5.4% compared to $2.3 billion in YTD 2024.
Debt and Cash Management
- Debt-to-Capital Ratio: 13.5%
- Net Debt-to-Capital Ratio: 9.5%
Period-End Cash Balance: $13.9 billion, reflecting a decrease from prior periods.
Overall, ExxonMobil’s Q3 2025 results illustrate a strong operational performance despite challenges in crude prices and market conditions. The company’s commitment to shareholder returns remains evident through dividends and share repurchase activities.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Preliminary)
Dollars in millions
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |
| Revenues and other income | ||||
| Sales and other operating revenue | 83,331 | 87,792 | 243,866 | 258,189 |
| Income from equity affiliates | 1,267 | 1,481 | 4,098 | 5,067 |
| Other income | 696 | 743 | 1,966 | 2,903 |
| Total revenues and other income | 85,294 | 90,016 | 249,930 | 266,159 |
| Costs and other deductions | ||||
| Crude oil and product purchases | 47,928 | 51,261 | 140,043 | 153,061 |
| Production and manufacturing | 10,094 | 9,881 | 30,279 | 28,776 |
| Selling, general and administrative | 3,032 | 2,296 | 8,100 | 7,359 |
| Depreciation and depletion (includes impairments) | 6,475 | 6,258 | 18,278 | 16,857 |
| Exploration expenses, including dry holes | 149 | 339 | 464 | 640 |
| Non-service pension and postretirement benefit expense | 119 | 33 | 322 | 90 |
| Interest expense | 90 | 207 | 440 | 699 |
| Other taxes and duties | 6,475 | 6,715 | 18,767 | 19,617 |
| Total costs and other deductions | 74,362 | 76,990 | 216,693 | 227,099 |
| Income/(Loss) before income taxes | 10,932 | 13,026 | 33,237 | 39,060 |
| Income tax expense/(benefit) | 3,164 | 4,055 | 10,082 | 11,952 |
| Net income/(loss) including noncontrolling interests | 7,768 | 8,971 | 23,155 | 27,108 |
| Net income/(loss) attributable to noncontrolling interests | 220 | 361 | 812 | 1,038 |
| Net income/(loss) attributable to ExxonMobil | 7,548 | 8,610 | 22,343 | 26,070 |
| OTHER FINANCIAL DATA | ||||
| Earnings per common share (U.S. dollars) | 1.76 | 1.92 | 5.16 | 6.12 |
| Earnings per common share – assuming dilution (U.S. dollars) | 1.76 | 1.92 | 5.16 | 6.12 |
| Total Dividends on common stock | 4,242 | 4,240 | 12,865 | 12,333 |
| Per common share (U.S. dollars) | 0.99 | 0.95 | 2.97 | 2.85 |
| Millions of common shares outstanding | ||||
| Average – assuming dilution | 4,285 | 4,462 | 4,328 | 4,260 |
| Taxes | ||||
| Income taxes | 3,164 | 4,055 | 10,082 | 11,952 |
| Total other taxes and duties | 7,319 | 7,609 | 21,589 | 22,300 |
| Total taxes | 10,483 | 11,664 | 31,671 | 34,252 |
| Sales-based taxes | 5,487 | 5,174 | 16,246 | 17,062 |
| Total taxes including sales-based taxes | 15,970 | 16,838 | 47,917 | 51,314 |
| ExxonMobil share of income taxes of equity companies (non-GAAP) | 517 | 682 | 1,660 | 2,587 |
CONDENSED CONSOLIDATED BALANCE SHEET
(Preliminary)
Dollars in millions
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | 13,814 | 23,029 |
| Cash and cash equivalents – restricted | 55 | 158 |
| Notes and accounts receivable – net | 45,285 | 43,681 |
| Inventories | ||
| Crude oil, products and merchandise | 23,174 | 19,444 |
| Materials and supplies | 4,064 | 4,080 |
| Other current assets | 2,113 | 1,598 |
| Total current assets | 88,505 | 91,990 |
| Investments, advances and long-term receivables | 46,138 | 47,200 |
| Property, plant and equipment – net | 298,388 | 294,318 |
| Other assets, including intangibles – net | 21,309 | 19,967 |
| Total Assets | 454,340 | 453,475 |
| LIABILITIES | ||
| Current liabilities | ||
| Notes and loans payable | 9,212 | 4,955 |
| Accounts payable and accrued liabilities | 65,382 | 61,297 |
| Income taxes payable | 3,256 | 4,055 |
| Total current liabilities | 77,850 | 70,307 |
| Long-term debt | 32,824 | 36,755 |
| Postretirement benefits reserves | 10,394 | 9,700 |
| Deferred income tax liabilities | 39,942 | 39,042 |
| Long-term obligations to equity companies | 1,145 | 1,346 |
| Other long-term obligations | 23,962 | 25,719 |
| Total Liabilities | 186,117 | 182,869 |
| EQUITY | ||
| Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,808 | 46,238 |
| Earnings reinvested | 480,367 | 470,903 |
| Accumulated other comprehensive income | -12,782 | -14,619 |
| Common stock held in treasury (3,802 million shares at September 30, 2025, and 3,666 million shares at December 31, 2024) | -253,832 | -238,817 |
| ExxonMobil share of equity | 260,561 | 263,705 |
| Noncontrolling interests | 7,662 | 6,901 |
| Total Equity | 268,223 | 270,606 |
| Total Liabilities and Equity | 454,340 | 453,475 |
