ExxonMobil Expects Third-Quarter Refining Margin Improvement to Boost Earnings by $4.5 Billion

en.Wedoany.com Reported - On October 16, ExxonMobil disclosed its estimate of factors affecting third-quarter 2026 results. Driven by improved refining margins, earnings from its Energy Products business are expected to increase by approximately $4.5 billion compared with the second quarter. Changes in crude oil prices are expected to reduce upstream business earnings by approximately $1.3 billion quarter over quarter. The company plans to release its full third-quarter financial results on October 30.

BMO Capital Markets analyst Phillip Jungwirth estimates, based on the information disclosed by the company, that adjusted net income for the Energy Products business in the third quarter could reach $8.5 billion, more than double that of the second quarter. This figure is an analyst estimate and not the company's officially announced quarterly profit.

The upstream business was affected by the decline in crude oil prices. LSEG data shows that the average closing price of Brent crude in the third quarter fell by approximately 5.6% quarter over quarter. ExxonMobil expects the sale of certain upstream assets to contribute approximately $700 million to earnings, and confirmed that Middle East conflicts did not cause any production-related operational disruptions in the third quarter.