An ExxonMobil gas station in Washington, DC, on November 28, 2023.
Al Drago | Bloomberg | Getty Images
ExxonMobil on Friday reported its second-highest second-quarter results in the past decade, as the company achieved record production in Guyana and the Permian Basin.
Exxon Mobil shares rose more than 1% before the bell.
What’s this Exxon Corporation reported as second season Compared to Wall Street expectations, according to a survey of analysts by LSEG:
- Earnings per share: $2.14 vs expected $2.01
- income: US$93.06 billion, expected US$90.99 billion
Exxon Mobil reported net profit of $9.2 billion, or $2.14 a share, up 17% from a profit of $7.9 billion, or $1.94 a share, a year earlier.
Revenue rose to $93.06 billion from $82.91 billion a year ago, enough to beat analysts’ expectations of $90.99 billion, according to LSEG.
Year-to-date, the oil major’s paper profit was $17.5 billion, down 9% from $19.3 billion in the same period in 2023, as refining margins and natural gas prices fell.
Production rose 15% from the first quarter, or 574,000 barrels per day, to 4.4 million barrels, driven by records in Guyana and the Permian Basin.
Capital and exploration spending totaled $7 billion in the quarter, with $700 million coming from the acquisition of Pioneer Natural Resources, which closed in May, bringing total spending this year to nearly $13 billion. ExxonMobil expects capital expenditures of $28 billion this year.
ExxonMobil shares have risen nearly 17% since the start of 2024.
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