ExxonMobil Q2 Profit Soars to $14.5B as Iran-U.S. Conflict Lifts Oil Prices

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