New York, Jan 8, 2026, 19:09 EST — After-hours
- Exxon shares were last up 3.7% after a filing flagged a potential fourth-quarter upstream earnings hit from weaker crude prices.
- The company also pointed to a possible lift from stronger refining margins, a key offset investors are watching into results.
- Traders’ next checkpoints include Friday’s U.S. jobs report and Exxon’s Jan. 30 earnings release.
Exxon Mobil Corp shares jumped 3.7% to $122.91 in after-hours trading on Thursday. This boost came as oil prices bounced back and energy stocks broadly rallied. Investors were also reacting to a company filing released before quarterly earnings.
The update matters because Exxon’s “earnings considerations” snapshot gives one of the first clear glimpses of how the oil giant is shaping up before reporting season, even as estimates fluctuate with every shift in crude prices and fuel margins. These early numbers from the company might influence analysts’ forecasts ahead of management’s Q&A later this month. 1
Energy stocks led the S&P 500 sectors on Thursday, while the overall market hardly shifted, ending almost unchanged. Investors are eagerly awaiting Friday’s U.S. employment report, searching for clues on interest rates and the economy. This uneasy environment keeps traders on edge, even when markets barely move. 2
In its filing, Exxon cautioned that changes in liquids prices could shave off about $0.8 billion to $1.2 billion from its fourth-quarter upstream earnings; upstream means the company’s oil and gas production segment. It also pointed to a possible gas price swing, ranging from a $0.3 billion loss to a modest $0.1 billion gain. On the other side, “industry margins” — a broad label covering refining and chemicals — showed signs of being a possible bright spot for parts of the business. 3
Analysts expect Exxon to report adjusted earnings of $1.66 per share this quarter, according to LSEG data highlighted in recent reports. “Many brokers… have yet to mark to market,” said Scotiabank analysts, stressing the need to revise forecasts with current commodity prices rather than leaning on outdated figures. 4
Oil prices surged more than 3% on Thursday, hitting their highest levels in two weeks. Brent crude closed at $61.99 a barrel, while U.S. WTI ended the day at $57.76. Traders faced a tangle of events: unrest in Venezuela paired with supply jitters tied to Russia, Iraq, and Iran. Raymond James strategist Pavel Molchanov cautioned that Iranian oil exports “could be at risk” depending on how the situation develops. 5
Peers have begun dropping early clues. Take Shell, for example: it posted a loss in its chemicals and products division for the fourth quarter and said oil trading results were “significantly” weaker than the prior quarter. This prompted analysts to slash their forecasts and question how fast buybacks can materialize. 6
Exxon, meanwhile, cautioned that this snapshot isn’t meant as an earnings forecast and leaves out many factors like operating performance, unexpected shutdowns, or currency swings. The company also highlighted potential “identified items” such as impairments and restructuring charges — those line items that can swing reported profits even if core operations remain steady. 7
Investors will be watching closely to see if crude holds steady as Friday’s session approaches. Meanwhile, the upcoming payrolls report might jolt rate expectations. Exxon said it plans to release its fourth-quarter results around 5:30 a.m. CT on Friday, Jan. 30. 8
