The earnings call highlighted significant achievements, including strong earnings, dividend increases, and advancements in both upstream production and low carbon solutions. However, challenges like the delay in the Golden Pass project and market conditions in China were noted. Overall, the highlights outweighed the lowlights, reflecting a positive sentiment.

Company Guidance

In the third quarter of 2024, Exxon Mobil reported earnings of $8.6 billion, marking it as one of the best third quarters in the past decade. The company's Energy Products business saw year-to-date earnings double compared to the same period in 2019, attributed to reduced costs, high-return investments, and strategic divestments. Notable achievements included a $5 billion cost reduction versus 2019, a 24% reduction in turnaround costs, and significant structural cost savings. Exxon Mobil also increased its quarterly dividend by 4% to $0.99 per share, continuing a 42-year streak of annual dividend increases. The upstream business experienced a 24% year-over-year production increase, reaching 4.6 million oil-equivalent barrels per day, and showcased technological advancements such as drilling record-breaking 18,350-foot laterals on Pioneer acreage. The company also made strides in low-carbon solutions, working on the world's largest low-carbon hydrogen production facility and securing the largest offshore CO2 storage site in the U.S. Additionally, Exxon Mobil is advancing new technology-driven ventures like Proxxima, with a potential $30 billion market by 2030, aimed at sectors such as infrastructure and automotive.

Strong Earnings Performance

Exxon Mobil announced earnings of $8.6 billion in Q3 2024, one of the best third quarters in the past decade.

Energy Products Business Improvement

Year-to-date earnings in 2024 have doubled compared to the same period in 2019 on a constant margin basis. Cost reductions achieved, particularly in Energy Products, with a 24% reduction in turnaround costs compared to previous periods.

Dividend Increase

Exxon Mobil announced a 4% increase in the quarterly dividend, marking 42 consecutive years of annual dividend increases.

Upstream Production Growth

Production increased to 4.6 million oil equivalent barrels per day, a 24% increase versus the prior year quarter.

Low Carbon Solutions Progress

Advancements in low carbon hydrogen production and carbon capture and storage, including securing the largest offshore CO2 storage site in the U.S.

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Exxon Mobil (GB:0R1M) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0R1M Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 31, 2025	2024 (Q4)	1.76 / -	2.48	―	―	―
Nov 01, 2024	2024 (Q3)	1.88 / 1.92	2.27	-15.42% (-0.35)
Aug 02, 2024	2024 (Q2)	2.02 / 2.14	1.94	10.31% (+0.20)
Apr 26, 2024	2024 (Q1)	2.19 / 2.06	2.83	-27.21% (-0.77)
Feb 02, 2024	2023 (Q4)	2.19 / 2.48	3.4	-27.06% (-0.92)
Oct 27, 2023	2023 (Q3)	2.37 / 2.27	4.45	-48.99% (-2.18)
Jul 28, 2023	2023 (Q2)	2.04 / 1.94	4.14	-53.14% (-2.20)
Apr 28, 2023	2023 (Q1)	2.60 / 2.83	2.07	36.71% (+0.76)
Jan 31, 2023	2022 (Q4)	3.29 / 3.40	2.05	65.85% (+1.35)
Oct 28, 2022	2022 (Q3)	3.86 / 4.45	1.58	181.65% (+2.87)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0R1M Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 01, 2024	$116.14	$115.74	-0.34%
Aug 02, 2024	$115.29	$114.41	-0.77%
Apr 26, 2024	$117.57	$114.06	-2.99%
Feb 02, 2024	$99.56	$100.05	+0.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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