🔹 Adj. EPS: $2.06 (Est. $2.19) 🔴; DOWN -40.3% YoY
🔹 Revenue: $48.3B (Est. $47.0B) 🟢; DOWN -7.5% YoY
🔹 Net Income: $3.2B (Est. $4.03B) 🔴; DOWN -52% YoY
🔹 Operating Cash Flow (CFFO): $8.7B (Est. $8.68B) 🟡; DOWN -29.8% YoY
Segment Performance:
🔹 Upstream Earnings: $4.30B (Est. $2.34B) 🟢; UP +171.4% YoY
🔹 U.S. Upstream Earnings: $1.42B (Est. $1.98B) 🔴
🔹 International Upstream Earnings: $2.88B (Est. $2.47B) 🟢
🔹 Downstream Earnings: -$248M (Est. $188.5M) 🔴
🔹 U.S. Downstream Earnings: -$348M (Est. $132M) 🔴
🔹 International Downstream Earnings: $100M (Est. $194M)
Production Metrics:
🔹 Total Production: 3,350K BOE/d (UP +7% YoY)
🔹 U.S. Production: 1,646K BOE/d (UP +19% YoY)
🔹 International Production: 1,704K BOE/d (DOWN -5% YoY)
🔹 Liquids Production (U.S.): 1,189K BBL/d
🔹 Liquids Production (Intl.): 797K BBL/d
🔹 Natural Gas Production (U.S.): 2,743 MMCF/d
🔹 Natural Gas Production (Intl.): 5,437 MMCF/d
Financial & Operational Metrics:
🔹 Free Cash Flow (FCF): $4.4B (Est. $7.57B) 🔴; DOWN -45.7% YoY
🔹 Capital Expenditure (Capex): $4.3B (Est. $4.08B) 🟡
🔹 Dividend Increase: +5% to $1.71/share, payable March 10, 2025
FY25 Guidance & Strategic Updates:
🔹 FY25 Initial Oil Production Target: 1M BOE/d
🔹 Organic Capex Range: $14B-$16B (Prev. $14.5B-$15.5B)
🔹 Buyback Commitment: $10B-$20B per year, depending on market conditions
🔹 **Targeting $2B-$3B in structural cost reductions by end of 2026
CEO Mike Wirth's Commentary:
🔸 "In 2024, we delivered record production, returned a record $27B to shareholders, and made key strategic advancements, including major project startups and acquisitions."