ExxonMobil Beats Q3 Estimates On Guyana and Permian Output

News Americas, HOUSTON, Fri. Nov. 7, 2025: ExxonMobil, (NYSE: XOM), delivered stronger-than-expected third-quarter earnings, driven by record oil and gas production in Guyana and the Permian Basin that helped offset weaker global crude prices.

The U.S. energy giant reported adjusted earnings of $8.1 billion, or $1.88 per share, for the July–September quarter — surpassing analysts’ consensus estimate of $1.82 per share, according to data from LSEG.

Despite the earnings beat, free cash flow dropped to $6.3 billion, down sharply from $11.3 billion in the same period last year, as ExxonMobil increased capital spending to expand its acreage in the Permian Basin. Shares initially fell by nearly 2% in Friday trading before later recovering to end flat at $114.64.

“Higher expenditures counteracted what was otherwise positive earnings news that included a dividend increase,” noted TPH & Co analyst Jeoffrey Lambujon.

Production Surges in Key Growth Regions

ExxonMobil’s total production rose to 4.8 million barrels of oil equivalent per day (boepd), up from 4.6 million boepd in the prior quarter, marking record output levels from both Guyana’s Stabroek Block and the Permian Basin in Texas and New Mexico.

These two regions remain critical to Exxon’s long-term growth strategy, as Guyana continues to emerge as one of the world’s most prolific new oil provinces. The company, along with its partners Hess Corporation and CNOOC, has made more than 30 discoveries offshore Guyana since 2015.

Global Oil Price Pressures

While operational performance was strong, ExxonMobil faced a challenging pricing environment. Brent crude averaged $68.17 per barrel during the third quarter – down about 13% from a year earlier — as OPEC+ output increases and a U.S.-led tariff dispute weighed on global demand and investor sentiment.

Energy analysts say ExxonMobil’s ability to post profit growth despite lower prices underscores its strategic pivot toward high-margin assets like Guyana, the Permian, and LNG operations.

The company’s results come amid broader industry turbulence, as global oil majors navigate volatile prices, geopolitical headwinds, and accelerating energy transitions.