Earnings live updates: Exxon, Chevron refining margins jump, lifting earnings

Live updates

1. 22h ago

   Exxon and Chevron Q3 Profits Surge on Record Refining Margins

   ExxonMobil and Chevron beat third-quarter 2026 profit estimates, driven by soaring refining margins and record refinery throughput. ExxonMobil reported a profit of $15.4 billion, while Chevron earned $9.9 billion. ExxonMobil's non-GAAP profit of $4.23 per share exceeded analyst consensus by 4.8%, despite revenue falling short of market expectations. Both companies are prioritizing balance-sheet strength and debt reduction over dividend increases, while issuing warnings regarding diesel supplies amid geopolitical disruptions. Chevron's profits nearly tripled compared to the previous year.

   Why it matters

   Global diesel prices rose after Ukraine and Iran targeted refineries in the Middle East and Russia. These geopolitical conflicts have crimped energy supplies, contributing to a $56 billion windfall for the industry due to refining spikes. The U.S. oil industry earned over $130 billion in profit during the Iran War.

   What is confirmed

   • ExxonMobil earned $15.4 billion in Q3 2026.
   • Chevron earned $9.9 billion in Q3 2026.
   • ExxonMobil's non-GAAP profit was $4.23 per share.
   • ExxonMobil's Q3 sales rose 32.7% year on year to $113.2 billion.
   • Chevron's Q3 profit nearly tripled from a year ago.
   • Refining margins and record throughput lifted earnings for both Exxon and Chevron.
   • Ukraine and Iran struck refineries in Russia and the Middle East, causing global diesel prices to surge.

   Still unconfirmed

   • The U.S. oil industry earned over $130 billion in profit during the Iran War.
   • Big Oil scored a $56 billion windfall on a war-driven refining spike.
   • Shareholders including Donald Trump are cashing in on huge profits from Big Oil.

   What to watch next

   • Updates on global diesel supply levels
   • Future dividend or buyback announcements from Exxon and Chevron
   Sources used for this update (22)

   1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
   2. www.marketbeat.com — Top Biotech Stocks To Research - October 14th | MarketBeat
   3. www.zerohedge.com — Futures Rise, Oil Slides As Iran's Supreme Leader Talks Peace And Shrugs Off Ras Tanura Attack
   4. Yahoo Finance — Earnings live updates: Exxon, Chevron refining margins jump, lifting earnings
   5. The New York Times — U.S. Oil Industry Earned Over $130 Billion in Profit During Iran War
   6. CNN — Big Oil is raking in huge profits. Shareholders like Trump are cashing in. You’re paying for it with high gas prices.
   7. WSJ — American Oil Giants See Profits Soar as Wars Crimp Energy Supplies
   8. Bloomberg — Big Oil Scores $56 Billion Windfall on War-Driven Refining Spike
   9. investor.exxonmobil.com — ExxonMobil Announces Third-Quarter 2026 Results
   10. Financial Times — ExxonMobil and Chevron post bumper profits and warn on diesel supplies
   11. The Motley Fool — Chevron’s Profit Nearly Tripled From a Year Ago. Is CVX Stock a Buy After Its Blowout Earnings Report?
   12. Seeking Alpha — Chevron rises as Q3 profit nearly triples on record refinery throughput (CVX:NYSE)
   confidence 95%