2024

Billion

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Exxon Mobil Corporation (NYSE: XOM) announced its <a href="https://investor.exxonmobil.com/news-events/press-releases/detail/1162/exxonmobil-announces-first-quarter-2024-results" target="_blank" aria-label="first-quarter 2024 earnings (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">first-quarter 2024 earnings</a>, showcasing strong financial and operational performance despite facing industry headwinds. <br><br>The company reported earnings of $8.2 billion and cash flow from operating activities of $14.7 billion. This performance was bolstered by significant achievements, including a quarterly gross production of over 600,000 oil-equivalent barrels per day in Guyana and the final investment decision on the sixth major development in the region.</p>
<p>Additionally, ExxonMobil saw growth in performance chemical sales volumes and delivered record first-quarter refining throughput while maintaining excellent turnaround performance. <br><br>The company also reported a reduction in operated methane emissions intensity by more than 60% since 2016, highlighting its commitment to environmental stewardship. These results underscore ExxonMobil’s strategic focus on execution excellence, creating substantial value for society and its shareholders.</p>
<h3 id="exxonmobil-s-q1-eps-missed-revenue-beat">ExxonMobil’s Q1 EPS Missed, Revenue Beat</h3>
<p>Comparing the current performance against expectations, ExxonMobil’s first-quarter earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) of $2.06 fell short of the anticipated $2.21. <br><br>However, the company’s revenue for the quarter stood at $80.41 billion, slightly above the expected $78.31 billion. This discrepancy between earnings and revenue performance can be attributed to the dynamic nature of the industry’s refining margins and natural gas prices, which have normalized within the ten-year historical range after last year’s highs. <br><br>Despite these challenges, ExxonMobil’s strategic investments in high-value, high-growth markets and its focus on cost reduction and operational efficiency have effectively enabled it to navigate the volatile market conditions.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="exxonmobil-aims-to-spend-23b-to-25b-in-capital-and-exploration-expenditures">ExxonMobil Aims to Spend $23B to $25B in Capital and Exploration Expenditures</h3>
<p>Looking ahead, ExxonMobil provided guidance that continues to reflect the company’s strategic vision and operational excellence. The corporation plans to maintain capital and exploration expenditures within the range of $23 billion to $25 billion for the full year. <br><br>This disciplined approach to investment underscores ExxonMobil’s commitment to growing its earnings power through strategic asset investments and cost management. Moreover, the company’s ongoing technological investments aim to extend its reach into new markets, such as advanced recycling and carbon capture, positioning ExxonMobil to capture increased value from its core competitive advantages.<br><br>The guidance also focuses on delivering cumulative structural cost savings totaling $15 billion by the end of 2027, further demonstrating ExxonMobil’s commitment to operational efficiency and shareholder value creation.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/exxonmobils-80-41-billion-q1-revenue-beats-expectations-eps-miss/">ExxonMobil’s $80.41 Billion Q1 Revenue Beats Expectations, EPS Miss</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

ExxonMobil’s $80.41 Billion Q1 Revenue Beats Expectations, EPS Miss

Table of Contents

Tokenist

Other articles published on Apr 26, 2024

Arkham Intel Discovers WBIT Bitcoin ETP Wallets Linked to Wisdomtree

Robert Kiyosaki Forecasts Tough Times Ahead for U.S. Economy

ARK Development Report - April 26, 2024

BloFin Sponsors TOKEN2049 Dubai and Celebrates the SideEvent: WhalesNight AfterParty 2024 (26 Apr)

CryptoQuant CEO Disagrees with DOJ’s Intent on Samourai Wallet Founders’ Charge

Spot Bitcoin ETFs Rocked By Outflows, BTC Price Succumbs To Bears

Join our free newsletter for daily crypto updates!