ExxonMobil reports 14% drop in Q4 net profit

Financial Performance - ExxonMobil reported a net profit of $6.5 billion, or $1.53 per diluted share, for Q4 2025, a 14% decrease from $7.6 billion, or $1.72 per diluted share, in Q4 2024 [1] - For the full year 2025, earnings reached $28.8 billion, down from $33.7 billion in 2024, attributed to weaker crude prices, lower chemical margins, and increased depreciation costs [2] - The company generated $12.7 billion in cash flow from operating activities and recorded free cash flow of $5.6 billion in Q4 2025 [1] Shareholder Distributions - Shareholder distributions for Q4 2025 totaled $9.5 billion, comprising $4.4 billion in dividends and $5.1 billion in share repurchases [1] - For the full year 2025, total shareholder distributions amounted to $37.2 billion, including $17.2 billion in dividends and $20 billion in share repurchases [2] Operational Highlights - Upstream operations generated annual earnings of $21.4 billion, despite challenges from lower crude realizations and higher depreciation costs compared to $25.4 billion in the previous year [4] - Production reached its highest level in over four decades at 4.7 million oil-equivalent barrels per day [4] - The company achieved record refinery throughput levels, supporting substantial shareholder distributions [6] Cost Management and Savings - ExxonMobil has realized cumulative structural cost savings of $15.1 billion since 2019, surpassing all other international oil companies [3][6] - The company reported a debt-to-capital ratio of 14%, supported by an ending cash balance of $10.7 billion [3] Segment Performance - Energy Products recorded full-year earnings of $7.4 billion, driven by improved refining margins and record throughput [4] - Chemical Products reported earnings of $800 million, reflecting lower margins despite high-value product sales [4] - Specialty Products contributed $2.9 billion in earnings, although this was a reduction from the previous year due to higher development spending and unfavorable currency fluctuations [5]