ExxonMobil Doubles Cash Flow to USD 23.6 Billion on Record Permian Output, Yet Shares Fall 3%

ExxonMobil shares fell nearly 3% before the market open even after the company reported record Permian Basin production and operating cash flow of USD 23.6 billion for the second quarter of 2026, up from USD 8.7 billion in the first quarter.

The drop came despite adjusted profit rising quarter on quarter from USD 8.8 billion to USD 14.7 billion. Earnings per share climbed from USD 2.09 to USD 3.52, which left profit growth slightly below what analysts had anticipated, according to ABM Financial News.

The results were published on Friday, July 31, 2026. ExxonMobil attributed the profit jump to a higher oil price and the highest production in more than two decades.

Output in the Permian Basin reached a record level, and diesel production also peaked during the quarter.

Shareholders will receive a quarterly dividend of USD 1.03 per share, unchanged from the first quarter.

The cash flow figure is the sharpest line in the release: operating cash flow nearly tripled between the first and second quarters. The dividend held flat against that swing.

For North American shale investors, the mismatch is the story. Record barrels out of the Permian and a doubling of adjusted earnings did not clear the bar analysts had set on per-share profit. The pre-market move priced the miss rather than the volume.