Exxon Mobil reported first-quarter 2025 net income attributable to ExxonMobil of $7.713 billion, a decrease from $8.220 billion in the prior-year quarter. Total revenues and other income were $83.130 billion, relatively flat compared to $83.083 billion in Q1 2024.
The company surpassed Wall Street's profit estimates, primarily boosted by higher oil and gas production from its advantaged assets in Guyana and the Permian Basin. Upstream net income increased to $6.756 billion from $5.660 billion in Q1 2024, with production rising to 4.551 million oil-equivalent barrels per day.
However, the Energy Products segment saw net income decrease sharply to $827 million from $1.376 billion in Q1 2024, mainly due to lower industry refining margins. Chemical Products net income also fell to $273 million from $785 million, impacted by weaker margins and lower base volumes.
Specialty Products net income decreased to $655 million from $761 million, influenced by lower base volumes and higher new product development expenses. Corporate and Financing expenses increased to $798 million, primarily due to lower interest income and unfavorable foreign exchange effects.
ExxonMobil distributed $4.335 billion as dividends and used $4.804 billion for share repurchases in Q1 2025. The company's net debt to capital ratio stood at 7.1% at the end of Q1 2025, reflecting a strong balance sheet.
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