ExxonMobil(US:XOM) Youtube·2025-10-31 12:55Core Viewpoint - Exxon Mobil reported strong third-quarter results, with adjusted earnings per share of $1.88, exceeding the consensus estimate of $1.82, although revenue fell short of expectations at $85.3 billion compared to the anticipated $86.5 billion [2][3] Financial Performance - The third quarter marked the highest earnings per share since the merger with Exxon Mobil, reflecting significant cost reduction efforts since 2019, with an expected additional $2.5 billion in cost reductions for the year [3][4] - Cumulatively, the company has achieved over $14 billion in cost reductions since 2019, outperforming industry competitors [4] Production and Growth - Production levels from the Permian Basin and Guyana are at record highs, contributing to a strong quarter despite mixed price environments [5] - The company plans to grow earnings by $20 billion and cash flow by $30 billion through 2030, supported by the delivery of ten major projects, with eight already completed on or ahead of schedule [6][7] Market Reaction - Despite strong results, the stock experienced a 1.6% decline, potentially due to market concerns about growing production amid falling oil prices, which historically has led to challenges for companies in the sector [7][8] Cost Management and Profitability - The company has more than doubled its profitability per barrel of oil since 2019, maintaining a low cost of production with a break-even cost of $35 per barrel [10][12] - Investments are focused on projects that generate double-digit returns at low costs, ensuring competitiveness in commodity markets [13][15] Workforce and Restructuring - The company announced layoffs of approximately 2,000 employees as part of a restructuring effort in the EU and Canada, aimed at improving effectiveness rather than cost-cutting [17][20] - The overall demand for Exxon Mobil's services remains strong, with healthy growth in global economies and no significant challenges in attracting talent [21]