Exxon Mobil Corporation (XOM) Announced Q1 2026 Earnings on May 1, 2026, Reporting the Energy Products segment "made $2.8 billion in the quarter".

In the first quarter of 2026, Exxon Mobil Corporation reported that its Energy Products segment "made $2.8 billion in the quarter", which was up $2 billion compared to last year and a few hundred million compared to the fourth quarter.Management noted that excluding identified items and estimated timing effects, first quarter earnings per share were up versus the fourth quarter of 2025.Management highlighted several key business updates, including achieving record levels of production in Guyana and delivering on plans to increase Permian production year-over-year.The company optimized logistics and safely maximized refinery throughput, noting that in March, refinery throughput increased by approximately 200,000 barrels a day versus February.Additionally, the Beaumont refinery expansion completed in 2023 fully recovered its initial investment ahead of expectation. In Low Carbon Solutions, ExxonMobil began transporting and storing captured CO2 from the new generation gas gathering project.Looking forward, the company stated it remains on track to grow full year Permian production to 1.8 million oil equivalent barrels in 2026.ExxonMobil also expects to start facilities through this year and next with the capacity to capture an additional 4 million tons per year of CO2. For the Golden Pass LNG facility, Train 2 is expected to be mechanically complete by the end of this year, and Train 3 should be mechanically complete as the company heads into the second quarter of next year.Notable product and partnership announcements included Train 1 of the Golden Pass LNG facility, a joint venture with Qatar Energy, achieving first LNG in March, which will deliver an increase of about 5 percent relative to 2025 U.S. exports.The company also announced it has committed a $100 million investment over 10 years to support national STEM education in Guyana.Furthermore, the company held a ribbon-cutting ceremony at a pilot production plant in Kentucky to build a reliable domestic supply of advanced synthetic graphite.