Exxon Mobil Corporation, one of the world's largest publicly traded energy providers and chemical manufacturers, reported its third-quarter financial results for 2024 on November 1, 2024. The company announced earnings of $8.6 billion, or $1.92 per share, a slight decrease from the second quarter's $9.24 billion, or $2.14 per share. Despite the decline, the results marked one of Exxon Mobil's strongest third quarters in a decade, attributed to the company's enterprise-wide transformation which improved earnings power. The company achieved its highest liquids production in over 40 years, with 3.2 million barrels per day, and delivered record high-value product sales volumes in Product Solutions, up 10% over the prior year-to-date. Exxon Mobil also returned $9.8 billion to shareholders in the quarter and increased...Show More

Exxon Mobil Corporation, one of the world's largest publicly traded energy providers and chemical manufacturers, reported its third-quarter financial results for 2024 on November 1, 2024. The company announced earnings of $8.6 billion, or $1.92 per share, a slight decrease from the second quarter's $9.24 billion, or $2.14 per share. Despite the decline, the results marked one of Exxon Mobil's strongest third quarters in a decade, attributed to the company's enterprise-wide transformation which improved earnings power. The company achieved its highest liquids production in over 40 years, with 3.2 million barrels per day, and delivered record high-value product sales volumes in Product Solutions, up 10% over the prior year-to-date. Exxon Mobil also returned $9.8 billion to shareholders in the quarter and increased the fourth-quarter dividend to $0.99 per share. The company continues to lead in carbon capture and storage development, with a new customer agreement increasing CO2 off-take under contract to 6.7 million metric tons per year. Capital and exploration expenditures for the third quarter stood at $7.2 billion, bringing the year-to-date total to $20 billion, in line with full-year guidance. The company's debt-to-capital ratio was 13%, and the net-debt-to-capital ratio was 5%, reflecting year-to-date debt repayment of $4.7 billion and a period-end cash balance of $27.0 billion.