ExxonMobil (XOM 0.77%), a comprehensive energy provider with significant operations in upstream oil and gas exploration, chemical manufacturing, and downstream refining, released its first-quarter earnings on April 26.
By harnessing leading-edge technology and a broad patent portfolio, the company continually adapts its strategy to meet global energy demand. Recent years have seen the company focus on strategic investments to bolster its portfolio, notably in lower-emission technologies and high-return projects like those in Guyana and the Permian Basin.
ExxonMobil remains committed to its foundational business while steering toward a more diversified energy mix. This dual focus places significant emphasis on technological innovation, regulatory compliance, environmental stewardship, talent development, and maintaining a competitive industry position.
Quarterly highlights
Exxon had a lot to tell investors about, including:
- Adjusted earnings of $8.2 billion, down from $11.6 billion a year ago.
- Earnings per share came in at $2.06, which was below analysts' estimate.
- Free cash flow of $10.1 billion, down from $11.4 billion a year ago.
- Capital and exploration expenditures were $5.8 billion in the quarter, in line with the company's plans for the full year.
- ExxonMobil's dividend policy remains robust, with the quarterly dividend remaining at $0.95. The stock yields around 3%.
- Strategic investments in key high-return projects are set to propel future growth, with emphasis on expanding its low-cost supply portfolio and reducing emissions, underscoring the company's proactive stance on energy evolution.
