🔹 Adj EPS: $1.76 (Est. $1.76) 🟡
🔹 Total Revenue & Other Income: $83.13 B (Est. $81.35 B) 🟢
🔹 Cash Flow from Operations: $13.0 B; Free Cash Flow: $8.8 B
🔹 Shareholder Distributions: $9.1 B ($4.3 B dividends + $4.8 B buybacks)
🔹 Net-Debt-to-Capital: 7 % (down 5 pp YoY)
Guidance / Capital
🔹 FY-25 Net Cash Capex: $27 B – $29 B (re-affirmed)
🔹 Annual Share-Repurchase Program: up to $20 B/yr through 2026
Segment Performance
Upstream
🔹 Earnings: $6.76 B; + $1.10 B YoY
🔹 Production: 4,551 koe b/d (Est. 4,609) 🔴; +20 % YoY (Permian + Guyana growth, Pioneer deal)
Energy Products (Refining & Fuels)
🔹 Earnings: $827 M; –40 % YoY on weaker industry margins
🔹 Refinery Throughput: 3,810 kbd (Est. 3,837) 🔴
Chemical Products
🔹 Earnings: $273 M; –65 % YoY on lower margins & start-up costs
🔹 Chemical Sales: 4.78 Mt
Specialty Products
🔹 Earnings: $655 M; –14 % YoY; resilient high-value lubes & additives mix
Operational & Strategic Updates
🔸 Started up China Chemical Complex (1.7 Mt/yr PE, 850 kt/yr PP) ahead of schedule & under budget.
🔸 Second advanced-recycling unit (Baytown) online; doubles plastic-waste processing to 80 M lb/yr.
🔸 Ten “advantaged” projects slated for 2025 start-up, expected to add >$3 B earnings by 2026 at constant prices.
🔸 Cumulative structural cost savings vs 2019 now $12.7 B; targeting $18 B by 2030.
Management Commentary
🔸 CEO Darren Woods: “Our eight-year transformation leaves us built for any environment. Advantaged growth volumes, disciplined capital, and $13 B quarterly operating cash show we’re on track to deliver through 2030 and beyond.”