Quarterly earnings season is one of Wall Street’s oldest rituals. Every three months, public companies pause, tally everything up, and hand investors a detailed accounting of their operations. Exxon Mobil thinks that cadence might be due for a rethink.
Exxon Mobil CFO Neil Hansen submitted an 11-page letter to the Securities and Exchange Commission on June 24, 2026, formally backing a proposed rule that would let public companies switch from mandatory quarterly filings to optional semiannual reporting.
What the SEC actually proposed
The SEC floated this idea in May 2026, introducing a framework that would give companies a choice: keep filing the full quarterly 10-Q, or shift to a twice-yearly schedule using a new form called the 10-S.
Companies that go semiannual would still be able to provide abbreviated quarterly updates through an 8-K item, so investors would not be completely in the dark between reporting periods. The distinction matters: this is optional flexibility, not a blanket removal of quarterly disclosure requirements.
