Exxon Mobil Corporation (NYSE: XOM) reported its financial performance for the fourth quarter of 2024. The company achieved earnings of $7.6 billion, translating to $1.72 per share. This performance was primarily driven by significant production milestones in the Permian and Guyana regions. The quarter also saw cash flow from operating activities reaching $12.2 billion, with free cash flow standing at $8.0 billion. Capital and exploration expenditures were aligned with expectations, totaling $7.5 billion for the quarter, contributing to a full-year total of $27.6 billion.
ExxonMobil Fails to Meet EPS, Revenue Expectations in Q4 2024The company highlighted its strategic transformation as a key driver behind these results. ExxonMobil reported record sales volumes of high-value products, which played a crucial role in offsetting lower base volumes resulting from non-strategic asset divestments and scheduled maintenance. The company also achieved $12.1 billion in cumulative structural cost savings since 2019, which helped to counterbalance inflationary pressures and support growth initiatives.ExxonMobil’s quarterly results were slightly below market expectations. Analysts had projected an earnings per share (EPS) of $1.77 and revenue of $85.35 billion for the quarter. The reported EPS of $1.72 ($1.67 adjusted) and revenue of $81.06 billion fell short of these forecasts.Despite this, the company maintained strong operational performance, with record production levels and high-value product sales mitigating the impact of declining industry refining margins and natural gas prices.Compared to the previous year, the company’s full-year earnings of $33.7 billion marked a decrease from $36.0 billion in 2023.This decline was attributed to unfavorable identified items, including a $2.0 billion impairment in California due to regulatory challenges. However, excluding these items, ExxonMobil’s earnings showcased resilience, driven by volume growth from advantaged assets and structural cost savings.
ExxonMobil Optimistic About Growth Prospects, Declares First Quarter Dividend of $0.99ExxonMobil remains optimistic about its growth prospects. The company has outlined plans to extend its annual $20 billion share-repurchase program through 2026, reflecting confidence in its ability to generate substantial earnings and cash flow.ExxonMobil also declared a first-quarter dividend of $0.99 per share, continuing its tradition of increasing annual dividends for 42 consecutive years. The company anticipates continued strong cash flow from operations and asset sales, with a focus on maintaining industry-leading shareholder distributions.More By This Author:Bitcoin Hits $105,820.58 Amidst Growing Institutional Adoption, Texas Seeks BTC ReserveIBM Projects A 5% Revenue Growth For 2025 Amid AI And Cloud SuccessCigna Group Falls Short Of Q4 Expected EPS
