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Exxon Mobil Corp. (NYSE:XOM)

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Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Exxon Mobil Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Sales and other operating revenue
Income from equity affiliates
Other income
Revenues and other income
Crude oil and product purchases
Production and manufacturing expenses
Selling, general and administrative expenses
Depreciation and depletion, includes impairments
Exploration expenses, including dry holes
Other taxes and duties
Operating income
Non-service pension and postretirement benefit expense
Interest expense
Income before income taxes
Income tax expense
Net income including noncontrolling interests
Net income attributable to noncontrolling interests
Net income attributable to ExxonMobil

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

Financial performance across the analyzed period is characterized by significant volatility in top-line revenue and corresponding fluctuations in net income, reflecting the cyclical nature of the energy sector. A period of aggressive growth peaked in mid-2022, followed by a phase of stabilization and a subsequent sharp increase in the second quarter of 2026.

Revenue and Income Trends
Sales and other operating revenue grew steadily from 57,552 million USD in March 2021 to a peak of 111,265 million USD in June 2022. Following this peak, revenues entered a period of consolidation, generally fluctuating between 80,000 million USD and 90,000 million USD through 2024 and 2025. A notable surge occurred in June 2026, where revenue rose sharply to 114,529 million USD.
Operating Cost Structure
Crude oil and product purchases represent the most significant and volatile expense, closely tracking revenue trends. These costs peaked at 65,613 million USD in June 2022 and reached another high of 67,801 million USD in June 2026. In contrast, selling, general, and administrative expenses remained remarkably stable, consistently ranging between 2.3 billion USD and 3.0 billion USD regardless of revenue fluctuations, indicating a disciplined fixed-cost overhead structure.
Operational Profitability
Operating income exhibited extreme variance, rising from 4,228 million USD in March 2021 to a peak of 25,785 million USD in September 2022. From 2023 through early 2026, operating income stabilized within a band of 7,324 million USD to 14,034 million USD before spiking to 19,683 million USD in June 2026. This suggests that profit margins expanded significantly during high-commodity-price environments.
Net Income and Bottom Line Performance
Net income attributable to ExxonMobil followed the trajectory of operating income, reaching a maximum of 19,660 million USD in September 2022. The subsequent period saw a normalization of earnings, with quarterly net income typically falling between 6.5 billion USD and 9.2 billion USD. The period concluded with a substantial increase to 14,525 million USD in June 2026, mirroring the spike in operating revenue.
Non-Operating Expenses and Taxes
Interest expenses remained relatively low and stable, rarely exceeding 300 million USD per quarter. Income tax expenses shifted in correlation with taxable income, peaking at 6,359 million USD in June 2022. Depreciation and depletion charges showed intermittent spikes, most notably in December 2023 and June 2026, which may be attributed to asset impairments or accelerated depreciation schedules.