Summary
ExxonMobil Corporation (XOM) reported revenues of $87.8 billion for the third quarter of 2024 and $258.2 billion for the first nine months of the year. Net income attributable to ExxonMobil for the third quarter was $8.6 billion, a slight decrease from $9.1 billion in the prior year period. For the first nine months, net income was $26.1 billion, down from $28.4 billion in the same period of 2023. The company's performance was impacted by weaker industry refining margins and higher Upstream depreciation, partially offset by favorable timing effects from derivatives and increased volumes from advantaged Upstream investments, notably from the Permian Basin and Guyana. The acquisition of Pioneer Natural Resources, completed in May 2024, continues to be integrated and contributed to higher volumes. Total capital and exploration expenditures for the nine months were $20.0 billion, an increase from the prior year, reflecting continued investment in growth projects. The company returned significant capital to shareholders through $12.3 billion in dividends and $13.8 billion in share repurchases during the first nine months of 2024. ExxonMobil maintains a strong liquidity position with substantial cash and cash equivalents.
Financial Highlights
41 data points| Revenue | $90.02B |
| SG&A Expenses | $2.30B |
| Operating Expenses | $76.99B |
| Interest Expense | $207.00M |
| Net Income | $8.61B |
| EPS (Basic) | $1.92 |
| EPS (Diluted) | $1.92 |
| Shares Outstanding (Basic) | 4.46B |
Key Highlights
- 1Third quarter 2024 net income attributable to ExxonMobil was $8.6 billion, a decrease from $9.1 billion in Q3 2023.
- 2First nine months 2024 net income attributable to ExxonMobil was $26.1 billion, a decrease from $28.4 billion in the first nine months of 2023.
- 3Revenue for the nine months ended September 30, 2024, was $258.2 billion, an increase from $253.0 billion in the same period of 2023.
- 4The company invested $20.0 billion in capital and exploration expenditures during the first nine months of 2024, up from $18.6 billion in the prior year.
- 5Shareholders received $12.3 billion in dividends and $13.8 billion in share repurchases during the first nine months of 2024.
- 6The acquisition of Pioneer Natural Resources in May 2024 is being integrated and contributed to increased Upstream volumes.
- 7Weaker industry refining margins and higher Upstream depreciation impacted third quarter earnings, offset by favorable timing effects and advantaged volume growth.