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.
ExxonMobil Holdings Corp., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-09-30), 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 bottom-line net income, reflecting the cyclical nature of the energy sector. A primary peak in operational performance occurred in mid-2022, followed by a period of stabilization and a subsequent sharp increase in revenue and profitability during the first half of 2026.
- Revenue Trends and Volatility
- Sales and other operating revenue exhibited a strong upward trajectory from March 2021, starting at 57,552 million US$ and peaking at 111,265 million US$ by June 2022. Following this peak, revenues normalized between 80,000 million US$ and 90,000 million US$ for several quarters before another significant surge in 2026, reaching a high of 114,529 million US$ in June 2026. This pattern indicates a high sensitivity to external market pricing and demand fluctuations.
- Operating Expense Structure
- The cost structure is dominated by crude oil and product purchases, which fluctuate in direct correlation with sales revenue. These purchases peaked at 65,613 million US$ in June 2022 and again at 67,801 million US$ in June 2026. In contrast, selling, general, and administrative expenses remained remarkably stable, generally fluctuating within a narrow band between 2,200 million US$ and 3,000 million US$, suggesting tight control over fixed overhead costs regardless of revenue swings.
- Profitability and Margin Analysis
- Operating income mirrored the volatility of revenue, with a dramatic increase from 4,228 million US$ in March 2021 to a peak of 25,785 million US$ in September 2022. A notable contraction is observed in early 2026, where operating income dipped to 7,324 million US$ in March 2026 before recovering sharply to 21,399 million US$ by September 2026. Net income attributable to the company followed this trend, peaking at 19,660 million US$ in September 2022 and again reaching 15,413 million US$ by September 2026.
- Taxation and Non-Operating Items
- Income tax expenses scaled proportionally with pre-tax income, reaching a high of 6,359 million US$ in June 2022. Interest expenses remained relatively low and stable, ranging primarily between 90 million US$ and 300 million US$ per quarter, indicating that debt service obligations do not exert significant pressure on the company's liquidity or net margins. Depreciation and depletion expenses showed periodic spikes, most notably in March 2022 and December 2023, which impacted operating income in those specific quarters.
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