Exxon Mobil Corp (NYSE:XOM, ETR:XONA) on Friday reported third quarter 2025 revenue that fell short of expectations, as a lower oil price environment weighed on its results.
The energy giant generated $85.3 billion in revenue for the quarter, less than the $87.7 billion analyst consensus forecast, according to data provided by LSEG.
Exxon produced 4.77 million barrels per day (bpd) of oil in Q3, with its Guyana assets reaching a quarterly record of more than 700,000 bpd and its Permian Basin operations setting a production record of nearly 1.7 million bpd.
The company’s earnings during the period fell 12% year over year to $1.76 per share, or $1.88 on an adjusted basis, better than the Wall Street estimate of $1.82.
“We delivered the highest earnings per share we've had compared to other quarters in a similar oil-price environment,” ExxonMobil CEO Darren Woods said in a statement. “We’ve now started up eight of our 10 key 2025 projects, with the remaining two on track.”
US crude oil prices have fallen about 16% this year as OPEC+ is boosting production.
Exxon also raised its quarterly dividend by 4% to $1.03 per share, which represents 43 consecutive years of annual dividend increases.