Energy firm ExxonMobil beats Q4 revenue expectations

Overview

• Oil and gas giant's Q4 revenue beat analyst expectations

• EPS for Q4 was $1.53

• Company achieved $15.1 bln in cumulative structural cost savings since 2019

Outlook

• ExxonMobil plans to repurchase $20 bln of shares through 2026

• Company expects cash capital expenditures of $27-$29 bln in 2026

• ExxonMobil aims for $20 bln in structural cost savings by 2030

Result Drivers

• UPSTREAM PRODUCTION - Highest annual upstream production in over 40 years, driven by record output from the Permian Basin and Guyana

• STRUCTURAL COST SAVINGS - Achieved $15.1 bln in cumulative structural cost savings since 2019, supporting earnings

• REFINING MARGINS - Higher industry refining margins and record refinery throughput contributed to increased earnings in Energy Products

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"

• Wall Street's median 12-month price target for Exxon Mobil Corp is $134.00, about 4.6% below its January 29 closing price of $140.51

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nBw3C6Crja

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