Exxon Mobil (XOM) Raises its 2030 Corporate Plan Outlook

Group 1 - Exxon Mobil Corporation (NYSE:XOM) is raising its earnings growth forecast to $25 billion and cash flow growth to $35 billion for the 2024-2030 period, reflecting a $5 billion increase from its previous plan [2] - The company aims to increase total upstream production to 5.5 million oil-equivalent barrels per day (boepd) by 2030, up from a previous forecast of 5.4 million boepd, expecting earnings from the upstream business to grow by over $14 billion through the end of the decade [3] - Exxon Mobil has increased its cumulative structural cost savings plan by $2 billion, targeting $20 billion in reductions by 2030 compared to 2019, and anticipates generating approximately $145 billion in cumulative surplus cash flow over the next five years at $65 real Brent [4] Group 2 - The company plans to repurchase $20 billion of its shares this year and intends to maintain this pace through 2026, reinforcing its position as the second-largest dividend payer in the S&P 500 [4]