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
Based on: 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).
The financial data reveals a significant period of volatility followed by a stabilization phase in both revenue and profitability. A distinct surge in financial performance is observed during 2022, with a subsequent moderation of earnings through 2025 and a contraction in the first quarter of 2026.
- Revenue Trends
- Sales and other operating revenue exhibited a steep upward trajectory from March 2021 (57,552 million USD) to a peak in June 2022 (111,265 million USD). Following this peak, revenue levels stabilized, generally fluctuating between 80,000 million USD and 90,000 million USD throughout 2023, 2024, and 2025. The most recent data indicates a slight recovery in March 2026 to 83,161 million USD after a dip in late 2025.
- Operating Cost Structure
- Crude oil and product purchases represent the primary cost driver, closely correlating with revenue fluctuations. These expenses peaked in June 2022 at 65,613 million USD and have since settled into a range of 44,000 million to 54,000 million USD. Selling, general, and administrative expenses remained remarkably stable, typically oscillating between 2,300 million and 3,000 million USD, suggesting a disciplined approach to overhead costs despite revenue volatility.
- Operating Income and Profitability
- Operating income experienced an extraordinary spike in mid-2022, reaching 25,785 million USD in September 2022. From 2023 through 2025, operating income normalized, maintaining a range between 8,000 million and 14,000 million USD. A downward trend is observable in the most recent period, with operating income falling to 7,324 million USD by March 2026, the lowest level since 2021.
- Net Income Analysis
- Net income attributable to the company mirrored the operating income trend, peaking at 19,660 million USD in September 2022. While the company maintained healthy net income figures between 6,000 million and 9,000 million USD for several quarters, a sharp decline is noted in the final quarter of the series, with net income dropping to 4,183 million USD in March 2026.
- Other Financial Factors
- Income from equity affiliates showed significant volatility, peaking at 4,632 million USD in September 2022 before declining and stabilizing between 1,000 million and 2,000 million USD. Interest expenses have remained relatively low and stable, rarely exceeding 300 million USD per quarter, indicating a manageable debt service burden relative to overall income.