Exxon Mobil has announced fourth-quarter 2024 earnings of $7.6 billion, or $1.72 per share assuming dilution. Cash flow from operating activities was $12.2 billion and free cash flow was $8.0 billion. Capital and exploration expenditures, and cash capital expenditures were both $7.5 billion in the fourth quarter, bringing the full-year expenditures to $27.6 billion and $25.6 billion, respectively – both in line with full-year guidance. For full-year 2024, the company reported earnings of $33.7 billion, or $7.84 per share assuming dilution.
- Business transformation drove industry-leading 2024 financial performance(1)
- Delivered $33.7 billion in earnings and $55.0 billion in cash flow from operations – third best year in a decade
- Achieved record production in Permian and Guyana, and record sales volumes of high-value products
- Distributed $36.0 billion to shareholders – more than all but five companies in the S&P 500(1)
- Achieved $12.1 billion cumulative structural cost savings since 2019; more than offsetting inflation and growth
'Our transformed company delivered unmatched value in 2024,' said Darren Woods, chairman and chief executive officer. 'The proof is in our performance. Operationally, we delivered strong results on safety, reliability, and emissions. Financially, we delivered some of our highest earnings and operating cash flow in a decade. We earned returns higher than our peers(3) and well above our cost of capital, and we distributed more cash to shareholders than all but five companies in the entire S&P 500(1).'
'As we look ahead, we’ve built a long runway of value creation. We’re confident we’ll deliver on the plans we laid out to generate significantly more earnings and cash – not only to 2030, but well beyond. Our unique investment opportunities give us profitable growth well into the future, which underpins our financial strength and ability to return significant cash to shareholders.'
(1)Leading financial performance compared to IOCs include metrics such as earnings, cash flow from operations and total shareholder returns. Where applicable, individual metrics referencing the IOCs or S&P 500 are actuals for companies that reported results on or before January 30, 2025, or estimated using Bloomberg consensus as of January 30. IOCs include each of BP, Chevron, Shell and TotalEnergies.
(2) Assuming dilution.
(3) ROCE for ExxonMobil is 2024 full-year. ROCE for IOCs is based on public filings and estimated using available year-to-date third-quarter annualized figures.
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Source: ExxonMobil
