From Nasdaq: 2024-11-09 08:45:00

ExxonMobil (NYSE: XOM) has seen a significant increase in profitability over the past five years, delivering industry-leading cash returns to shareholders. CEO Darren Woods shared the company’s success secrets during the third-quarter conference call, highlighting strong earnings despite moderate commodity prices. ExxonMobil’s ongoing transformation has focused on reducing costs and making high-return investments, particularly in refining. The company aims to double its earnings potential by 2027 through strategic investments, cost savings, and portfolio optimization.

With a focus on its best assets and cost efficiency, ExxonMobil has become a more profitable company, achieving impressive third-quarter earnings growth. The company’s long-term strategy includes significant investments in advantaged upstream assets and expanding its presence in liquefied natural gas. By continuing to enhance profitability and capture cost savings, ExxonMobil is set to grow even more profitable in the future, making it an attractive investment in the oil sector.



Read more at Nasdaq: The Secret to How ExxonMobil Has Transformed Into a Much More Profitable Energy Company