Summary by Futu AI
Exxon Mobil Corporation announced its fourth-quarter 2023 earnings on February 2, 2024, revealing a profit of $7.6 billion, a decrease from the previous quarter's $9.1 billion and the previous year's $12.75 billion. The company's full-year earnings for 2023 were reported at $36.0 billion, down from $55.74 billion in 2022. The earnings call was led by Jennifer Driscoll, Vice President of Investor Relations, alongside Darren Woods, Chairman and CEO, and Kathy Mikells, Senior Vice President and CFO. Exxon Mobil also discussed its acquisition of Pioneer Natural Resources, expected to close in Q2 2024, which is anticipated to create significant shareholder value and accelerate Pioneer's net zero ambitions by 15 years to 2035. The company plans to increase its share repurchase pace to $20 billion annually through 2025 post-acquisition. Additionally, Exxon...Show More