Financial Data and Key Metrics Changes - The company reported earnings of $7.7 billion, a 4% increase sequentially, excluding identified items [8] - Generated $13 billion of cash flow from operations, leading all integrated oil companies (IOCs) [8] - Achieved a net debt to capital ratio of 7%, leading large-cap industrials and all IOCs [5] Business Line Data and Key Metrics Changes - Sold $1.8 billion of assets in the quarter, primarily from divestments in the Upstream [8] - Since 2019, the company has sold $24 billion of non-core assets, strategically reshaping its portfolio and increasing earnings power by $4 billion at current prices and margins [9] - Plans to lower breakevens to $35 per barrel by 2027 and $30 per barrel by 2030 [9] Market Data and Key Metrics Changes - The company is experiencing significant downward pressure on prices and margins due to increased operational expenditures and market volatility [4] - The chemical business is facing challenges from a market glut, with industry margins below historical averages [37] Company Strategy and Development Direction - The company is focused on investing in advantaged projects to meet the ongoing demand for reliable and affordable energy [7] - Plans to maintain a strong balance sheet while continuing to invest in profitable growth and share success with shareholders [12] - The company aims to grow high-value products to 80% of total product solutions earnings by 2030 [15] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of flexibility in investment decisions based on market conditions and long-term fundamentals [30] - The company is prepared to respond to market challenges and capitalize on opportunities presented by a low-price environment [30] - Management expressed confidence in the long-term demand for energy and the company's ability to deliver on its plans [7] Other Important Information - The company distributed $9.1 billion of cash, including $4.8 billion in share buybacks, achieving a three-year total shareholder return of 60% [19] - The company has ramped up investor engagements significantly over the past five years, resulting in zero shareholder proposals for the first time since 1958 [21] Q&A Session Summary Question: How does the company exercise flexibility in its investment portfolio? - Management emphasized that decisions are based on market conditions and long-term marginal costs, ensuring that operational momentum is not compromised [28][30] Question: What is the impact of recent market developments on the chemicals business? - Management noted that while the industry faces a supply glut, the company continues to focus on high-value products and efficient operations [37][40] Question: Will the company maintain its share buyback pace regardless of market volatility? - Management confirmed the commitment to continue buybacks, viewing lower stock prices as buying opportunities while ensuring investments in advantaged projects [50] Question: What is the current status of the Baytown Blue Hydrogen project? - Management indicated that the project is competitive and progressing well, with customer agreements being a key focus for moving forward [66][68] Question: How does the company view potential M&A opportunities in a low-price environment? - Management stated that while they are always on the lookout for opportunities, the focus remains on leveraging existing strengths and capabilities [59] Question: What is the status of the litigation against the European Union regarding the windfall tax? - Management noted that legal processes are slow, and no specific timeline for resolution is available [93]

Core Viewpoint - Exxon Mobil Corporation (XOM) reported first-quarter 2025 earnings per share of $1.76, exceeding the Zacks Consensus Estimate of $1.72, but down from $2.06 a year ago [1] - Total quarterly revenues of $83.13 billion fell short of the Zacks Consensus Estimate of $84.49 billion, although it showed an increase from $83.08 billion in the previous year [1] Operational Performance - Upstream segment earnings (excluding identified items) reached $6.76 billion, up from $5.66 billion in the year-ago quarter, driven by production growth from Guyana, the Permian Basin, and structural cost savings [3] - U.S. operations generated a profit of $1.87 billion, compared to $1.05 billion in the same quarter of 2024, while non-U.S. operations reported a profit of $4.89 billion, up from $4.61 billion [4] - Average production was 4,551 thousand barrels of oil equivalent per day (MBoe/d), an increase from 3,784 MBoe/d a year ago, surpassing estimates of 4,238.2 MBoe/d [4] Production and Price Realization - Liquids production increased to 3,139 thousand barrels per day (MBbls/d) from 2,557 MBbls/d in the prior-year quarter, attributed to higher output from the U.S. and Asia [5] - Natural gas production totaled 8,470 million cubic feet per day (Mmcf/d), up from 7,362 Mmcf/d reported a year ago [5] - Crude price realization in the U.S. was $69.41 per barrel, down from $74.96 a year ago, and below the estimate of $69.73; non-U.S. crude price realization decreased to $68.12 per barrel from $72 [6] - Natural gas price in the U.S. was $3.38 per thousand cubic feet (Mcf), higher than $2.22 a year ago, but below the estimate of $3.72; non-U.S. natural gas price declined to $10.17 per Mcf from $11.37 [7] Segment Performance - Energy Products segment profit (excluding identified items) was $827 million, down from $1.4 billion a year ago, affected by weaker refining margins [8] - Chemical Products unit recorded a profit of $273 million, lower than $785 million in the year-ago quarter, primarily due to weaker margins and higher costs [9] - Specialty Products unit reported a profit of $655 million, down from $761 million a year ago, impacted by higher market development and feed costs [11] Financials - ExxonMobil generated a cash flow of $12.95 billion from operations and asset divestments, with capital and exploration spending of $5.94 billion [12] - Total cash and cash equivalents stood at $18.51 billion, while long-term debt totaled $32.82 billion [12]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Exxon Mobil (XOM) came out with quarterly earnings of $1.76 per share, beating the Zacks Consensus Estimate of $1.74 per share. This compares to earnings of $2.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.15%. A quarter ago, it was expected that this oil and natural gas company would post earnings of $1.55 per share when it actually produced earnings of $1.67, delivering a surprise of 7.74%.Over the last four quarters, ...

Financial Performance & Shareholder Value - 1Q25 earnings reached $7.7 billion, driven by execution excellence, advantaged portfolio, and cost discipline[9] - Shareholder distributions exceeded $9 billion, supported by a strong balance sheet[9] - Structural cost savings amounted to $12.7 billion compared to 2019, with an additional $0.6 billion YTD[24, 35] - 1Q25 cash flow from operations was $13 billion[24] Strategic Initiatives & Production - Upstream production included 4.6 million oil-equivalent barrels per day (Moebd)[11] - The company is increasing the percentage of advantaged assets versus total production, targeting >60% by 2030[10, 11] - High-value product sales volume reached 3.44 million tons in 1Q25[14] Project Start-ups & Future Outlook - Operations commenced at the China Chemical Complex with 2.5 million tons per annum (Mta) of Polyethylene/Polypropylene capacity[9, 21] - The second Advanced Recycling unit in Baytown, Texas, added 80 million lbs/yr of plastic waste processing capacity[9, 23] - The company is targeting ~$18 billion in structural cost savings by 2030 compared to 2019[16] - Full-year cash capex is projected to be $27-$29 billion, supporting advantaged opportunities[35]

Financial Data and Key Metrics Changes - The company reported earnings of $7.7 billion in the first quarter, a decrease of approximately $500 million compared to the same quarter last year, primarily due to market forces across its businesses [29] - Cash flow from operations reached $13 billion, the highest among all integrated oil companies, with a five-year compound annual growth rate of cash flow from operations being double that of the next highest IOC [23][24] - The net debt to capital ratio was 7%, leading all other integrated oil companies, with total distributions to shareholders amounting to $9.1 billion, including $4.8 billion in share buybacks [14][25] Business Line Data and Key Metrics Changes - In the upstream segment, more than 60% of production is expected to come from advantaged assets in the Permian, Guyana, and LNG by 2030, contributing to an increase in upstream profitability from $10 to $13 per barrel [15] - The company's advantaged projects delivered $2.1 billion of earnings in 2024, with expectations of roughly $4 billion per year more from these projects by the end of the decade [16] - The company produced approximately 3.5 million tons of performance chemicals, lubricants, and lower emission fuels in the first quarter, showing growth compared to the same period last year [16] Market Data and Key Metrics Changes - Crude prices remained roughly flat, while natural gas prices improved due to stronger global demand driven by LNG exports and colder weather in the U.S. and Europe [26] - Global industry refining margins were lower, particularly in Asia Pacific, but the company's energy products business generated higher sequential margins due to its majority weighting in the North American market [27] - Chemical margins stayed below the ten-year range, but the chemicals business performed well due to a focus on high-value chemical products and cost reductions [28] Company Strategy and Development Direction - The company maintains a disciplined approach to capital allocation, focusing on long-term growth by investing in advantaged opportunities across its portfolio [5][10] - The company is executing on 10 key project startups in 2025, including the China Chemical Complex and an advanced recycling unit in Baytown, which are expected to deliver significant earnings [11][20] - The company aims to achieve $18 billion in structural savings by 2030, having already delivered $12.7 billion in savings since 2019 [19][24] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of flexibility in navigating economic uncertainty and emphasized that the company is built to excel in any market environment [3][4] - The company is prepared to capitalize on opportunities despite ongoing economic challenges, with a focus on disciplined capital allocation and leveraging competitive advantages [38] - Management expects scheduled maintenance in the upstream segment to decrease volumes in the second quarter, but anticipates ramping up production at the China Chemical Complex [36] Other Important Information - The company has secured contracts for carbon capture and storage, aiming to permanently store 30 million tons of CO2 by 2030 [14] - The company showcased a revolutionary EV battery case prototype made from Proxima products, indicating a strong position in the growing market for high-performance materials [12][13] Q&A Session Summary Question: What are the expectations for the second quarter? - The company expects scheduled maintenance in the upstream segment to decrease volumes by about 100,000 oil equivalent barrels per day compared to the first quarter [36] - Lower scheduled maintenance in Product Solutions is anticipated, with production ramping up at the China Chemical Complex throughout the year [36] Question: How is the company addressing economic uncertainty? - Management reiterated that the company is built to excel in any market environment and remains focused on its proven strategy and cost discipline [38]

Financial Data and Key Metrics Changes - The company reported earnings of $7.7 billion in the first quarter, a decrease of approximately $500 million compared to the same quarter last year, primarily due to market forces across its businesses [27] - Cash flow from operations reached $13 billion, the highest among all integrated oil companies, with a five-year compound annual growth rate of cash flow from operations being double that of the next highest IOC [22][24] - The net debt to capital ratio was 7%, leading all other integrated oil companies, and the company distributed $9.1 billion to shareholders, including $4.8 billion in share buybacks [14][24] Business Line Data and Key Metrics Changes - In the upstream segment, over 60% of production volume is expected to come from advantaged assets in the Permian, Guyana, and LNG by 2030, contributing to an increase in upstream profitability from $10 to $13 per barrel [15] - The company's advantaged projects delivered $2.1 billion of earnings in 2024, with expectations of roughly $4 billion per year more from these projects by the end of the decade [16] - The company produced approximately 3.5 million tons of performance chemicals, lubricants, and lower emission fuels in the first quarter, showing growth compared to the same period last year [16] Market Data and Key Metrics Changes - Crude prices remained roughly flat, while natural gas prices improved due to stronger global demand driven by LNG exports and colder weather in the U.S. and Europe [25] - Global industry refining margins were lower, particularly in Asia Pacific, but the company's energy products business generated higher sequential margins due to its majority weighting in the North American market [26] - Chemical margins stayed below the ten-year range, but the company's chemicals business performed well due to a focus on high-value chemical products and cost reductions [26] Company Strategy and Development Direction - The company maintains a disciplined approach to capital allocation, focusing on long-term growth by investing in advantaged opportunities across its portfolio [5][6] - The company is executing on 10 key project startups in 2025, including the China Chemical Complex and an advanced recycling unit in Baytown, which are expected to deliver significant earnings [11][19] - The company aims to achieve $18 billion in structural savings by 2030, having already realized $12.7 billion in savings since 2019 [18][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the economic uncertainty due to tariffs and market volatility but emphasized the company's flexibility and strong position to thrive through market cycles [3][4] - The company is built to excel in any market environment, with a focus on proven strategy, superior execution, and cost discipline [36][37] - Management expressed confidence in the company's ability to navigate market cycles and seize opportunities despite ongoing uncertainties [36][37] Other Important Information - The company has signed six large carbon capture and storage contracts, bringing its total CO2 under contract for CCS with third-party customers to 8.7 million tons per annum [13][14] - The company is committed to maintaining industry-leading financial strength while delivering robust returns to shareholders [14][24] Q&A Session Summary Question: What are the expectations for the second quarter? - The company expects scheduled maintenance in Qatar and Canada to decrease volumes by about 100,000 oil equivalent barrels per day compared to the first quarter [34] - There will be lower scheduled maintenance in Product Solutions, with production ramping up at the China Chemical Complex throughout the year [35] - Seasonal tax payments of $2.5 to $3 billion are expected in the second quarter, leading to a working capital outflow [36]

Key Takeaways Energy companies are expected to face a harsh reporting period. Earnings for the broader Zacks Oil & Energy sector expected to be down -22.7% YoY. XOM and CVX are both two energy titans on the reporting docket this week. Earnings season continues to move rapidly, with a notably rich reporting docket this week. A few big-tech names and representatives from many sectors have delivered their quarterly prints, with next week just as exciting.Among the bunch this week are two energy titans, Exxon ...

Group 1: Earnings Reports Overview - Chevron Corp and Exxon Mobil Corp are set to report first-quarter earnings, with both companies experiencing significant stock declines this year [1][3] - Chevron's stock is down nearly 20% in the past month and 7.46% year to date, with expected earnings per share (EPS) of $2.18 on revenue of $48.09 billion [1][4] - Exxon Mobil's shares have dropped over 11% this month and 1.58% year to date, with analysts projecting an EPS of $1.70 on revenue of $86.09 billion [3][4] Group 2: Technical Analysis - Both Chevron and Exxon Mobil stocks are trading below their eight, 20, 50, and 200-day simple moving averages (SMAs), indicating a strongly bearish trend [1][3] - Chevron's 50-day SMA has crossed below the 200-day SMA, forming a "Death Cross," which further validates the bearish outlook [2] Group 3: Market Conditions and Challenges - Both companies are facing earnings pressure due to crude oil price volatility, uncertainties regarding global demand, and challenges from green energy initiatives [4][5] - A notable difference is that Exxon's revenue base is nearly double that of Chevron's for the quarter, providing it with more capacity to absorb macroeconomic pressures [4]

Core Viewpoint - Analysts forecast Exxon Mobil (XOM) will report quarterly earnings of $1.72 per share, reflecting a year-over-year decline of 16.5%, with anticipated revenues of $84.49 billion, an increase of 1.7% compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised downward by 8.2% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior, as empirical studies show a strong correlation between earnings estimate trends and short-term stock performance [3]. Revenue Estimates - Analysts estimate 'Revenues- Sales and other operating revenue' will reach $84.12 billion, indicating a year-over-year change of +4.6% [5]. - 'Revenues- Income from equity affiliates' is projected at $1.17 billion, reflecting a decline of 36.4% from the previous year [5]. - 'Revenues- Sales and other operating revenue- Specialty Products' is expected to be $7.16 billion, showing a significant increase of +55% year over year [6]. - 'Revenues- Sales and other operating revenue- Energy Products' is forecasted to reach $63.39 billion, indicating a slight decline of -1.3% from the prior year [6]. - 'Revenues- Sales and other operating revenue- Upstream- Non-U.S.' is estimated at $3.24 billion, down by 8% year over year, while 'Upstream- United States' is expected to rise by 161% to $5.72 billion [7]. - 'Revenues- Sales and other operating revenue- Chemical Products- Non-U.S.' is projected at $3.67 billion, a change of +0.6%, and 'Specialty Products- Non-U.S.' is expected to reach $5.31 billion, reflecting a +68.5% increase [8]. Production Estimates - Analysts project 'Oil-equivalent production per day' to be 4,584.05 KBOE/D, up from 3,784 KBOE/D in the same quarter last year [9]. - 'Natural gas production available for sale per day - Worldwide' is expected to reach 8,462.62 Mcf/D, compared to 7,362 Mcf/D a year ago [9]. - 'Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - Worldwide' is estimated at 3,139.27 thousand barrels, up from 2,557 thousand barrels in the same quarter last year [10]. - For the United States, 'Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day' is projected at 1,395.05 thousand barrels, compared to 816 thousand barrels a year ago [11]. Stock Performance - Over the past month, Exxon shares have declined by 9%, while the Zacks S&P 500 composite has seen a minor decrease of 0.2% [12].