$XOM (-0.4%) | Exxon Mobil Q3'24 Earnings Highlights:

🔹 Adjusted EPS: $1.92 (Est. $1.87) 🟢

🔹 Total Revenue: $90.03B (Est. $87.15B) 🟢

🔹 Free Cash Flow: $11.3B

🔸 Sees FY24 Capex Outlook: $28B (Est. $25B)

Q3 Segment Performance

Upstream

🔹 Earnings: $6.16B

🔹 Production: 4,582 KOEBD (Est. 4,522) 🟢

🔹 Record liquids production at 3.2 million BPD

Energy Products

🔹 Earnings: $1.3B (UP from $0.95B in Q2)

🔹 Sales Volume: 5,580 KBD (UP 10% YoY)

Chemical Products

🔹 Earnings: $893M

🔹 Sales Volume: 4,830 KT

🔹 Increased margins from lower North American feed costs

Specialty Products

🔹 Earnings: $794M

🔹 Sales Volume: 1,959 KT

🔹 Record year-to-date earnings driven by high-value product sales and improved margins

Shareholder Returns

🔹 Returned $9.8B to shareholders in Q3 (including dividends and share repurchases)

🔹 Increased Q4 dividend by 4% to $0.99/share

🔸 Full-year share repurchase target: Over $19B

🔸 On Track To Deliver Cumulative Savings Of $15B Through End Of 2027 Vs 2019

Strategic & Operational Highlights

🔸 Leading in carbon capture and storage, with 6.7 million metric tons of CO2 contracted for storage annually

🔸 New agreements with ADNOC and Mitsubishi for hydrogen and ammonia production at the Baytown facility

🔸 Exclusive licensing for Neuvokas’s composite rebar technology for high-value, lower-emission products

🔸 Largest offshore CO2 storage site secured in the U.S. Gulf Coast

CEO Darren Woods' Commentary

🔸 "Our enterprise-wide transformation is enhancing structural earnings and supporting record shareholder returns. We lead the industry in CO2 capture commitments and are positioned to drive long-term value through cost efficiencies and strategic asset optimization."