🛢️ Exxon Mobil Corp. $XOM reported Q2 adjusted earnings of $14.7B ($3.52/share), missing the $3.60 consensus despite posting its highest quarterly profit in four years. Shares fell about 2% in premarket trading, as investors focused on the earnings miss even though profits surged 67% from Q1 and more than doubled year over year. 📈 The company benefited from higher oil prices and record refining margins, but total production slipped to 4.5 million boe/d from 4.6 million boe/d in Q1. Around 450,000 boe/d of LNG production in Qatar remains offline following attacks on energy infrastructure, while additional disruptions in the UAE continue to affect reported volumes. These losses were partially offset by record Permian production exceeding 1.8 million boe/d, with another 250,000 boe/d of capacity expected to come online in Guyana later this year through a fifth FPSO. 💰 Despite the earnings miss, Exxon Mobil Corp. $XOM maintained strong shareholder returns, paying $4.3B in dividends and repurchasing $5.1B of stock, keeping it on track for its $20B annual buyback target. The company also reduced net debt by $7B during the quarter, reinforcing its financial strength while positioning for future production growth once Middle East export disruptions ease. #Energy #OilGas #Earnings