Exxon Mobil Corporation 1Q26 Earnings Considerations and Middle East Impact

Exxon Mobil Corporation (XOM) has filed a Form 8-K detailing considerations for its 1Q 2026 earnings, including the impact of Middle East disruptions. The company expects first-quarter earnings per share to be higher than the fourth quarter of 2025, excluding unfavorable timing effects. However, disruptions in Qatar and the UAE are expected to lower global oil-equivalent production by approximately 6% in 1Q 2026 compared to 4Q 2025. Middle East assets represent about 20% of XOM's global oil-equivalent production. Additionally, reduced crude availability at Asia Pacific operations is expected to lower global Energy Products throughput by approximately 2%. The company also reported significant negative timing effects due to rising commodity prices, estimated between ($4.9) to ($3.5) billion, impacting both Upstream and Energy Products segments. The company is taking steps to mitigate these impacts, including increasing Permian production and optimizing logistics. Golden Pass LNG also achieved first production from Train 1 on March 30, 2026. XOM will release its 1Q 2026 financial results on May 1, 2026.