Exxon Mobil Corporation announced fourth-quarter 2024 earnings of $7.6 billion, or $1.72 per share, with full-year 2024 earnings reaching $33.7 billion, or $7.84 per share. Cash flow from operating activities for Q4 was $12.2 billion, and free cash flow stood at $8.0 billion.
The company's capital and exploration expenditures for Q4 were $7.5 billion, bringing the full-year total to $27.6 billion, in line with guidance. ExxonMobil achieved $12.1 billion in cumulative structural cost savings relative to 2019, including an additional $2.4 billion in 2024.
Fourth-quarter net production was 4.6 million oil-equivalent barrels per day, an increase of 20,000 oil-equivalent barrels per day from the prior quarter, driven by higher Permian and Guyana output. This strong production helped offset lower oil prices and weaker refining margins, contributing to the profit beat.
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