ExxonMobil Q2 Net Income Jumps to $14.5 Billion as Iran-U.S. Disruption Lifts Crude Prices

ExxonMobil reported Q2 2026 net income of $14.5 billion ($3.48 per share), up 245% from $4.2 billion in Q1. Adjusted earnings were $14.7 billion. The Iran-U.S. conflict impeded petroleum shipments in 2026; Q1 absorbed the initial shock to refining, while Q2 captured higher crude prices flowing through to upstream earnings with a lag. Chevron also reported Q2 results on July 31.