From RTT News:

ExxonMobil reported a 40% profit decline in Q4 due to lower gas and oil realizations. Net income was $7.63 billion or $1.91 per share, down from $12.75 billion or $3.09 per share. The results included $2.3 billion in unfavorable identified items, leading to adjusted earnings of $2.48 per share.

ExxonMobil’s Q4 total revenues decreased to $84.34 billion from $95.43 billion, with Wall Street expecting revenues of $85.23 billion. The oil-equivalent production remained flat at 3.82 million barrels per day. Segment earnings for upstream, energy products, chemicals, and speciality products declined from last year.

The corporation spent $7.76 billion in Q4 for capital and exploration, strengthening its portfolio with East Texas upstream assets divestment. The quarter also saw the launch of Mobil Lithium business, with plans to supply one million EVs per year by 2030 and first production in 2027.

ExxonMobil declared a first-quarter dividend of $0.95 per share, payable on March 11, 2024. For more earnings news and stocks information, visit rttnews.com.



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