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  • Exxon Mobil (XOM) Q4 earnings


    Exxon beats fourth-quarter estimates with higher Permian, Guyana output

    Exxon Mobil on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.

    Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data.

    The No. 1 U.S. oil producer reported total earnings of $33.46 billion for full-year 2024, down from $38.57 billion the year earlier.

    The company became the largest oil producer in the Permian basin in 2024, the biggest U.S. oilfield, after closing its acquisition of Pioneer Natural Resources in May.

    Exxon’s low production costs in the basin and its lucrative and prolific projects in Guyana have bolstered the company’s profits despite lower oil prices and a decline in profits for making fuel.

    The company signaled earlier this month that sharply lower oil refining margins would cut earnings by between $300 million and $700 million compared to the third quarter.

    The startup of new oil refineries by other companies in Asia and Africa led to higher global fuel supply, even as demand for gasoline and diesel lagged expectations.

    The refining business remains under pressure as the additional supply enters the market, said Exxon Chief Financial Officer Kathryn Mikells in an interview.

    “That’s really what we’re watching as we look ahead to 2025,” she said.

    The company previously said that impairments across the business would cost about $600 million in the fourth quarter. The charges come from selling non-strategic assets, including a joint venture in Nigeria, Mikells said.

    The largest U.S. oil producer continues to expect a decision by September in its arbitration challenge to Chevron’s acquisition of oil producer Hess, she said. If Chevron proceeds, it would gain a foothold in Guyana’s oil projects.

    While the deal has been approved by U.S. regulators, Exxon and CNOOC, which are Hess’ partners in the Guyana oil joint venture, say they have a contractual first right to buy Hess’ stake.

    Shareholder returns via buybacks and dividends totaled $36 billion in 2024, up from $32 billion the previous year. The shareholder distributions, a cornerstone of Big Oil’s strategy to court investors, were covered by Exxon’s free cash flow of $36.2 billion.



    Exxon Mobil (XOM) reports strong fourth quarter earnings

    Exxon Mobil (XOM) has released its fourth quarter earnings report, showcasing impressive results despite the challenges posed by the ongoing pandemic and fluctuating oil prices.

    The oil giant reported earnings of $3.66 billion, or $0.86 per share, exceeding analysts’ expectations of $0.63 per share. This marks a significant improvement from the previous quarter, where Exxon Mobil reported a loss of $680 million.

    Revenue for the quarter also surpassed estimates, coming in at $46.54 billion compared to the projected $45.01 billion. This increase can be attributed to higher oil prices and improved operational efficiency.

    Exxon Mobil’s CEO, Darren Woods, expressed optimism about the company’s future prospects, stating that they are well-positioned to capitalize on the recovering global economy and increasing demand for energy.

    Investors have reacted positively to the news, with XOM stock climbing in after-hours trading. With a strong fourth quarter performance and promising outlook, Exxon Mobil is proving to be a resilient player in the energy sector.

    Tags:

    Exxon Mobil, XOM, Q4 earnings, Exxon Mobil earnings report, Exxon Mobil stock, oil and gas industry, energy sector, financial news, Exxon Mobil performance, quarterly earnings, Exxon Mobil stock analysis, Exxon Mobil financial results.

    #Exxon #Mobil #XOM #earnings

  • Exxon beats Q4 estimates with higher Permian, Guyana output


    By Sheila Dang

    HOUSTON (Reuters) – Exxon Mobil on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.

    Its profit was $7.39 billion or $1.67 per share, beating analyst estimates of $1.56, LSEG data showed.

    Exxon’s low production costs in the basin and its lucrative and prolific projects in Guyana have bolstered the company’s profits despite lower oil prices and a decline in profits on making fuel.

    The No. 1 U.S. oil producer reported earnings of $33.46 billion for 2024, down from $38.57 billion the year earlier. Exxon shares were unchanged in trading before the bell on Friday.

    The company became the largest oil producer in the Permian basin in 2024, the biggest U.S. oilfield, after closing its acquisition of Pioneer Natural Resources in May.

    Its fourth-quarter adjusted earnings from oil and gas production was $6.28 billion, up from $4.15 billion in the same quarter last year. Production reached 4.6 million barrels of oil equivalent per day.

    Earnings from producing gasoline and diesel was $323 million, down from $3.2 billion a year earlier. Exxon signaled earlier this month that sharply lower oil refining margins would cut earnings by between $300 million and $700 million compared to the third quarter.

    The startup of new oil refineries by other companies in Asia and Africa led to higher global fuel supply, even as demand for gasoline and diesel lagged expectations.

    The refining business remains under pressure as the additional supply enters the market, Chief Financial Officer Kathryn Mikells said in an interview.

    “That’s really what we’re watching as we look ahead to 2025,” she said.

    The company said impairments across the business cost $608 million in the fourth quarter. The charges come from selling assets, including a joint venture in Nigeria, Mikells said.

    Exxon continues to expect a decision by September in its arbitration challenge to Chevron’s acquisition of oil producer Hess, she said. If Chevron proceeds, it would gain a foothold in Guyana’s oil projects.

    While the deal has been approved by U.S. regulators, Exxon and China’s CNOOC, which are Hess’ partners in the Guyana oil joint venture, say they have a contractual first right to buy Hess’ stake.

    Shareholder returns via buybacks and dividends totaled $36 billion in 2024, up from $32 billion.

    The shareholder distributions, a cornerstone of Big Oil’s strategy to court investors, were covered by Exxon’s free cash flow of $36.2 billion.

    (Reporting by Sheila Dang in Houston; editing by Simon Webb, Michael Perry and Jason Neely)



    Exxon Mobil Corporation has reported better-than-expected fourth-quarter results, boosted by strong production levels in the Permian Basin and Guyana. The oil giant announced earnings of $1.58 per share, surpassing analyst estimates of $1.45 per share.

    Exxon’s Permian Basin operations saw a significant increase in output, with production up 15% compared to the previous quarter. This growth was driven by improved well performance and operational efficiencies. In Guyana, the company’s Liza Phase 1 project continued to ramp up production, contributing to overall higher output levels.

    Despite challenges in the global oil market, Exxon’s focus on high-margin assets like the Permian Basin and Guyana has paid off. The company’s strong performance in these key regions has helped to offset weaker results in other parts of its portfolio.

    Looking ahead, Exxon is optimistic about its growth prospects, particularly in the Permian Basin and Guyana. The company has several major projects in the pipeline, including the development of additional phases in Guyana and continued expansion in the Permian Basin.

    Overall, Exxon’s strong fourth-quarter results demonstrate the company’s ability to deliver consistent performance even in challenging market conditions. With a focus on high-margin assets and strategic investments, Exxon is well-positioned for continued growth in the future.

    Tags:

    Exxon, Q4 earnings, Permian Basin, Guyana, oil production, revenue, financial performance, energy sector, Exxon Mobil, quarterly results, shale oil, offshore drilling, stock market, investment opportunities

    #Exxon #beats #estimates #higher #Permian #Guyana #output

  • Exxon foe Engine No. 1 to build fossil fuel plants with Chevron


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    Engine No. 1, the hedge fund that bested ExxonMobil in a fight over its approach to climate change, is teaming up with the supermajor’s rival Chevron to build fossil fuel plants to meet soaring artificial intelligence-driven power demand.

    The former activist investor said on Tuesday it was forming a joint venture with Chevron and agreed to a partnership with energy company GE Vernova to develop natural gas power plants under a fast-track timeline.

    The venture comes four years after Engine No. 1 launched one of Wall Street’s most audacious proxy wars against Exxon, arguing that the oil major faced an “existential business risk” by pinning its future to fossil fuels.

    At the time the hedge fund claimed Exxon had not adequately considered that oil and gas demand could decline, saying the producer lacked a “credible plan to protect value in an energy transition”.

    Although it held only 0.2 per cent of Exxon’s shares, Engine No. 1 won three seats on its board in a victory that sent shockwaves across corporate America and became the emblematic victory of the environmental, social and governance movement.

    Chris James, Engine No. 1’s founder and chief investment officer, said the investment with Chevron was consistent with its previous Exxon campaign.

    “This is not a pivot. The Exxon campaign was focused on governance and capital allocation as a way to create value for shareholders. It was not about ideology or fossil fuels or renewables,” James told the Financial Times.

    “This partnership with Chevron and GE is about allocating capital in an economy that is undergoing a re-industrialisation and needs dramatically more power . . . This will lead to value creation for shareholders.” 

    The companies plan to co-locate power plants with data centres and deliver up to four gigawatts of electricity — enough to power up to 3.5mn homes — by 2027.

    The investment, which analysts estimate at up to $8bn, is part of a race by energy companies to capitalise on surging power demand forecasts linked to the rollout of AI data centres.

    “This is the beginning of these AI wars,” James said, referring to the race between China and the US to harness a technology its boosters believe will transform the global economy.

    “We all know that China has an enormous amount of power available. But if we are really going to do a digital re-industrialisation of the US we’re going to need to make these investments at scale,” James said.

    Engine No. 1’s decision comes as Wall Street and large businesses across the US beat a steady retreat from ESG and other progressive programmes that have drawn fire from President Donald Trump and Republicans.

    James, a hedge fund industry veteran who made a fortune as a technology and biotech investor, has taken Engine Number 1 in a different direction since the Exxon campaign. In 2023 he announced the hedge fund would put $780mn into the base metals business of Brazilian miner Vale and told the FT that he never considered himself an activist investor.

    “I consider myself an investor and activism is a tool of last resort, not a strategy,” he said.

    The investors said they expected the gas plants to be designed with the flexibility to integrate carbon capture and storage — a technology that has yet to achieve full commercial and technical feasibility.

    The gas plant joint venture also marks a strategic shift for Chevron, which is entering the electricity business a few months after Exxon also declared plans to build gas power plants to fuel AI data centres.

    The announcement on Tuesday came a day after tech stocks slumped on news that China had developed a cheaper AI model that could need far less power than Silicon Valley’s energy-intensive AI systems.

    “We still see the growth in electricity demand being significant, just in the rest of this decade, not to mention past it,” said Jeff Gustavson, president of Chevron New Energies.

    “AI will be the big driver, but there are other drivers: reshoring of US manufacturing and just overall electrification in the pursuit of a lower carbon energy future.”

    Climate Capital

    Where climate change meets business, markets and politics. Explore the FT’s coverage here.

    Are you curious about the FT’s environmental sustainability commitments? Find out more about our science-based targets here



    In a surprising turn of events, Exxon foe Engine No. 1 has announced plans to partner with Chevron to build fossil fuel plants. The move comes as a shock to many, as Engine No. 1 has been a vocal critic of Exxon’s fossil fuel practices in the past.

    The decision to team up with Chevron has raised eyebrows in the environmental community, with many questioning Engine No. 1’s commitment to fighting climate change. Critics argue that building new fossil fuel plants goes against the urgent need to transition to renewable energy sources.

    Despite the backlash, Engine No. 1 has defended its decision, stating that partnering with Chevron will allow for more sustainable practices within the fossil fuel industry. The company has emphasized the importance of innovation and technology in reducing carbon emissions and mitigating the impact of fossil fuel production.

    Only time will tell how this partnership will unfold, but one thing is clear – the debate over the future of fossil fuels is far from over. Stay tuned for updates on this controversial collaboration between Exxon foe Engine No. 1 and Chevron.

    Tags:

    Exxon foe Engine No. 1, Chevron, fossil fuel plants, sustainable energy, environmental activism, energy industry, renewable energy, climate change, green energy, clean technology, fossil fuel alternatives, energy transition, carbon emissions, oil and gas industry.

    #Exxon #foe #Engine #build #fossil #fuel #plants #Chevron

  • Exxon Mobil: Don’t Let This Buying Opportunity Go To Waste (Upgrade) (NYSE:XOM)


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    JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a “Top Analyst To Follow” for Technology, Software, and Internet, as well as for Growth and GARP.

    He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks.

    He focuses on identifying growth investing opportunities that present the most attractive risk/reward upside potential. His approach combines sharp price action analysis with fundamentals investing.

    He tends to avoid overhyped and overvalued stocks while capitalizing on battered stocks with significant upside recovery possibilities.

    He runs the investing group Ultimate Growth Investing which specializes in identifying high-potential opportunities across various sectors. He focuses on ideas that has strong growth potential and well-beaten contrarian plays, with an 18 to 24 month outlook for the thesis to play out.

    The group is designed for investors seeking to capitalize on growth stocks with robust fundamentals, buying momentum, and turnaround plays at highly attractive valuations.

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    Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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    Exxon Mobil: Don’t Let This Buying Opportunity Go To Waste (Upgrade) (NYSE:XOM)

    Investors, listen up! Exxon Mobil (NYSE:XOM) is currently offering a prime buying opportunity that should not be missed. With the recent upgrade in its stock rating, now is the time to take advantage of this undervalued gem.

    Exxon Mobil is a global leader in the energy industry, with a proven track record of success and stability. Despite facing challenges in the past, the company has taken significant steps to improve its financial position and strategic direction.

    The recent upgrade in its stock rating is a clear indicator that Exxon Mobil is on the right path towards growth and profitability. With a strong balance sheet and promising growth prospects, this is the perfect time to invest in this industry giant.

    Don’t let this buying opportunity go to waste. Take advantage of Exxon Mobil’s potential for long-term gains and secure your position in this solid investment today. Trust us, you won’t regret it.

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