Investing.com -- Exxon Mobil Corporation (NYSE: XOM) shares gained around 1.5% in premarket trading on Friday after the company topped first-quarter expectations.

XOM reported first-quarter adjusted earnings per share of $1.16, exceeding the analyst estimate of $1.03. Revenue reached $85.14 billion, surpassing the consensus estimate of $81.24 billion.

The company posted earnings of $4.2 billion, or $1.00 per share, for the quarter. Excluding identified items, earnings were $4.9 billion, or $1.16 per share. Earnings excluding both identified items and unfavorable estimated timing effects totaled $8.8 billion, or $2.09 per share.

The timing effects of $3.9 billion primarily reflected the mismatch between the valuation of financial derivatives and associated physical transactions. Identified items of $0.7 billion reflected losses on settled financial hedges not offset by physical shipments due to Middle East supply disruptions, stemming for the war between the U.S. and Iran.

The company generated cash flow from operating activities of $8.7 billion and delivered shareholder distributions of $9.2 billion, including $4.3 billion in dividends and $4.9 billion in share repurchases.

"This quarter demonstrated that ExxonMobil is a fundamentally stronger company than it was just a few years ago, built to perform through disruption and across market cycles," said Darren Woods, chairman and chief executive officer. "Events in the Middle East tested that strength with the safety of our people remaining our top priority. Those events also underscored the importance of reliable, affordable energy products and the value of the capabilities we have built to deliver them," said Darren Woods, chairman and chief executive officer."

Upstream earnings excluding identified items and estimated timing effects reached $6.3 billion, supported by advantaged volume growth in Guyana and the Permian Basin. Net production reached 4.6 million oil-equivalent barrels per day, with Guyana setting a quarterly production record exceeding 900 thousand gross barrels of oil per day. Golden Pass LNG achieved first production from Train 1 in March, increasing U.S. LNG exports by 5%.

Cash capital expenditures totaled $6.2 billion, consistent with the company's full-year guidance range of $27-$29 billion. The company declared a second-quarter dividend of $1.03 per share, payable June 10, 2026.