Exxon Mobil Reports $7.5 Billion Net Income in Q3 2025, Down from $8.6 Billion

Exxon Mobil Corporation reported its financial results for the third quarter of 2025, revealing a net income of $7.5 billion, a decrease from $8.6 billion in the same quarter of 2024. For the first nine months of 2025, the company recorded a net income of $22.3 billion, down from $26.1 billion year-over-year. The decline in earnings was attributed to lower crude oil prices, reduced chemical margins, and increased expenses related to growth initiatives, although these were partially offset by stronger refining margins and increased production from key investments in the Permian Basin and Guyana.

Total revenues for the third quarter amounted to $85.3 billion, compared to $90.0 billion in the prior year. The decrease in revenue was primarily driven by a decline in sales and operating revenue, which fell to $83.3 billion from $87.8 billion. The company’s cash capital expenditures for the quarter were $8.6 billion, an increase of $2.2 billion from the same period in 2024, reflecting ongoing investments in its operations. For the first nine months, cash capital expenditures reached $20.9 billion, up $2.7 billion from the previous year.

In terms of operational developments, ExxonMobil completed $2.4 billion in acquisitions during the third quarter, primarily focused on proved and unproved acreage in the Permian Basin. The company also reported a significant increase in production, with net production of crude oil and natural gas liquids averaging 3.38 million barrels per day, up from 3.19 million barrels per day in the third quarter of 2024. This growth was largely driven by advancements in its Permian and Guyana operations. The company’s total employee headcount remained stable, supporting its operational capabilities.

ExxonMobil's strategic focus on cost management yielded structural cost savings of approximately $2.2 billion in the first nine months of 2025, contributing positively to its earnings. The company also continued its share repurchase program, buying back $14.9 billion worth of common stock during the first nine months of the year. The total number of shares outstanding as of September 30, 2025, was approximately 4.22 billion. The company’s outlook remains cautious, with expectations of continued volatility in commodity prices and ongoing investments in high-return projects, while also navigating the impacts of global economic conditions and regulatory changes.

Looking ahead, ExxonMobil anticipates that its capital expenditures will be slightly below the lower end of its previously stated range of $27 billion to $29 billion for 2025, excluding acquisitions. The company remains committed to maintaining a strong balance sheet while investing in competitively advantaged projects and returning value to shareholders through dividends and share repurchases.