Exxon Mobil reported third-quarter 2024 earnings of $8.6 billion, a decrease from $9.1 billion in the same period the previous year. The decline was attributed to weaker industry refining margins and higher upstream depreciation, partially offset by favorable timing effects from derivatives and increased volumes from advantaged upstream investments. Capital and exploration expenditures rose to $7.2 billion, up from $6.0 billion in the third quarter of 2023. For the first nine months of 2024, earnings were $26.1 billion, down from $28.4 billion in the prior year, with capital and exploration expenditures totaling $20.0 billion, an increase from $18.6 billion. ExxonMobil distributed $12.3 billion in dividends and repurchased $13.8 billion of common stock during the first nine months of 2024. The company's upstream sector saw increased earnings from higher volumes in the Permian...Show More

Exxon Mobil reported third-quarter 2024 earnings of $8.6 billion, a decrease from $9.1 billion in the same period the previous year. The decline was attributed to weaker industry refining margins and higher upstream depreciation, partially offset by favorable timing effects from derivatives and increased volumes from advantaged upstream investments. Capital and exploration expenditures rose to $7.2 billion, up from $6.0 billion in the third quarter of 2023. For the first nine months of 2024, earnings were $26.1 billion, down from $28.4 billion in the prior year, with capital and exploration expenditures totaling $20.0 billion, an increase from $18.6 billion. ExxonMobil distributed $12.3 billion in dividends and repurchased $13.8 billion of common stock during the first nine months of 2024. The company's upstream sector saw increased earnings from higher volumes in the Permian and Guyana, while the energy products sector faced decreased earnings due to weaker refining margins. Chemical products earnings improved due to lower North American feed costs, and specialty products benefited from stronger basestocks and finished lubes margins. ExxonMobil's future plans include investing in high-return projects, maintaining a strong balance sheet, and sharing success with shareholders through consistent share repurchases and a growing dividend. The company anticipates an investment level of approximately $28 billion in 2024, with actual spending potentially varying based on project progress and acquisitions.