Exxon Mobil Surpasses Earnings Estimates but Falls Short on Revenue

Exxon Mobil Corporation (NYSE: XOM) reported strong fourth-quarter earnings that beat analyst expectations, though revenue came in lower than projected. Despite this, the company’s stock rose 0.9% following the announcement.

Key Financial Highlights – Q4 2024:

• Earnings: $7.6 billion ($1.72 per share)
• Adjusted Earnings (Excluding Identified Items): $1.67 per share (vs. analyst estimate of $1.55)
• Revenue: $83.43 billion, below the expected $85.35 billion

Full-Year 2024 Performance:

• Net Earnings: $33.7 billion ($7.84 per share), down from $36.0 billion ($8.89 per share) in 2023
• Cash Flow from Operations: $55.0 billion
• Free Cash Flow: $34.4 billion

CEO Remarks & Operational Strength

Darren Woods, Chairman & CEO of Exxon Mobil, highlighted:

“Our transformed company delivered unmatched value in 2024. Operationally, we delivered strong results on safety, reliability, and emissions. Financially, we delivered some of our highest earnings and operating cash flow in a decade.”

Production & Growth Areas:

• Record Output in the Permian Basin & Guyana
  • Net production: 4.3 million oil-equivalent barrels per day, up 16% YoY
  • Record sales of high-value products

Shareholder Returns & Buyback Plans:

• Distributed $36.0 billion to shareholders in 2024 (dividends + share repurchases)
• Extended $20 billion annual share buyback program through 2026