ExxonMobil 4Q 2024 Earnings Call January 31, 2025 1
Delivering leading shareholder value from fundamental transformation of the business Full-year earnings of 34 B Cash capex of 26 B; Industry-leading underpinned by advantaged disciplined investing in total shareholder return of…
Competitive advantages deliver leading value today and a long runway of profitable growth Delivering advantaged Investing in unmatched Delivering leading growth and strong opportunities in traditional shareholder returns…
Driving long-term earnings growth Upstream Product Solutions Company-wide % advantaged assets of total Upstream production1 Advantaged projects and high-value product sales growth2 Cumulative structural cost savings (B) vs. 2019 5.4…
2025 project start-ups: executing our uniquely advantaged growth plans China Chemical Complex U.K. Fawley Hydrofiner U.S. Advanced Recycling Units Canada Strathcona Renewable Diesel Singapore Resid Upgrade Brazil Bacalhau Guyana…
Track record of delivering leading shareholder value, outperforming IOCs on key financial metrics 2024 GAAP earnings 2024 cash flow from operations Structural cost savings vs. 2019 34 B Earnings ex. identified items of 33.5B 55 B…
Macro Integrated portfolio delivers leading performance across commodity cycles 2024 crude and gas prices Industry prices / margins near 10-year average; 10-year annual range1 4Q24 gas prices higher on seasonal demand Refining…
2024 vs. 2023 Business transformation driving leading financial performance ENERGY CHEMICAL SPECIALTY CORP & UPSTREAM TOTAL PROD PROD PROD FIN 2023 GAAP Earnings / (Loss) 21.3 12.1 1.6 2.7 (1.8) 36.0 Additional European taxes on…
4Q24 vs. 3Q24 Business transformation driving leading financial performance ENERGY CHEMICAL SPECIALTY CORP & UPSTREAM TOTAL PROD PROD PROD FIN 3Q24 GAAP Earnings / (Loss) 6.2 1.3 0.9 0.8 (0.5) 8.6 3Q24 Earnings / (Loss) ex.…
Effective capital allocation growing shareholder value Cash flow Strong earnings drove Billion USD free cash flow of 34B 5.0 (25.6) Full-year cash capex of 26B supporting 55.0 advantaged growth (36.0) 31.6 Free cash flow…
Upstream Product Solutions Corporate Lower seasonal scheduled Corporate & financing Higher seasonal maintenance to increase expenses expected to be scheduled maintenance volumes by 80 Koebd 400M-600M 70 Koebd impact from First…
Extending our track record of leading performance into 2025 Lead in safety, operating, Leveraging advantages to capitalize Executing capital allocation priorities and financial performance on unmatched opportunity set and returning…
Q&A 14
2024 vs. 2023: Upstream Advantaged assets delivering strong earnings growth Upstream year-over-year earnings ex. ident. items Million USD 2024 production of 4.3 Moebd; record Permian 830 volumes of 1.2 Moebd 280 25,175 (1,350)…
2024 vs. 2023: Energy Products Portfolio high-grading and structural cost savings improving underlying results Energy Products year-over-year earnings ex. ident. items Margins down from Million USD historic 2023 levels 11,998…
2024 vs. 2023: Chemical Products Earnings growth driven by advantaged footprint and high-value product sales Improved margins on Chemical Products year-over-year earnings ex. ident. items Million USD North America feed advantage…
2024 vs. 2023: Specialty Products High-margin differentiated products yield consistently strong earnings Delivered record earnings Specialty Products year-over-year earnings ex. ident. items Million USD ex. identified items1 130…
4Q24 vs. 3Q24: Upstream Continued strong earnings driven by record advantaged asset production Upstream quarter-on-quarter earnings ex. ident. items Million USD 6,283 4Q24 production of 6,158 (40) 4.6 Moebd; record Guyana…
4Q24 vs. 3Q24: Energy Products Operational excellence underpins solid results in lower-margin environment Lower margins driven by Energy Products quarter-on-quarter earnings ex. ident. items North America Million USD 1,309 Base…
4Q24 vs. 3Q24: Chemical Products Generating positive earnings and cash flow at bottom-of-cycle conditions Chemical Products quarter-on-quarter earnings ex. ident. items Million USD Margins declined on 893 higher feed costs in…
4Q24 vs. 3Q24: Specialty Products Portfolio of high-value products reliably delivering strong earnings Specialty Products quarter-on-quarter earnings ex. ident. items Million USD Higher margins offset seasonally lower 794 60…
Enhanced disclosures and transparency Earnings sensitivities for Upstream, Energy Products, and Modeling Toolkit Chemical Products (located in Investors section of our website) Platform containing select historical and…
Upstream Project details Location Projects Gross Investment Basis Capacity1 Next Milestone Yellowtail +250 Kbd Start-up in 2025 Uaru +250 Kbd Start-up in 2026 Guyana Whiptail +250 Kbd Start-up in 2027 Hammerhead +150 Kbd FID in…
Product Solutions Project details Aggregate investment basis Estimated Product Solutions Segment Projects volume/capacity impact start-up timing +1,650 Kta Polyethylene Capacity Chemical Products China Chemical Complex 2025 +850…
Low Carbon Solutions Project details Investment basis Estimated Business area Projects/Agreements volume/capacity impact start-up timing CF Industries, Donaldsonville, Louisiana 2.0 MTA Carbon Dioxide 2025 (Ammonia Production)…
Supplemental information SELECTED EARNINGS DRIVER DEFINITIONS Advantaged volume growth. Represents earnings impact from change in volume/mix from advantaged assets, advantaged projects, and high-value products. See supplemental…
Supplemental information DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Advantaged assets (Advantaged growth projects). When used in reference to our Upstream business, includes Permian (heritage Permian and Pioneer), Guyana,…
Supplemental information DEFINITIONS AND NON-GAAP FINANCIAL MEASURE RECONCILIATIONS Distributions to shareholders (shareholder distributions). The Corporation distributes cash to shareholders in the form of both dividends and share…
Supplemental information CASH CAPITAL EXPENDITURES 4Q24 Additions to property, plant and equipment 6,837 Net investments and advances 646 Less: inflows from noncontrolling interests for major projects (20) Total cash capital…
Supplemental information FREE CASH FLOW 4Q24 2024 Net cash provided by operating activities (U.S. GAAP) 12,229 55,022 Additions to property, plant and equipment (6,837) (24,306) Proceeds from asset sales and returns of investments…
Supplemental information CALCULATION OF STRUCTURAL COST SAVINGS 2019 2024 Components of operating costs From ExxonMobils Consolidated statement of income (U.S. GAAP) Production and manufacturing expenses 36.8 39.6 Selling, general…
Supplemental information AVERAGE CAPITAL EMPLOYED 2019 2020 2021 2022 2023 2024 Business uses: asset and liability perspective Total Assets 362.6 332.8 338.9 369.1 376.3 453.5 Less liabilities and noncontrolling interests share of…
Supplemental information RETURN ON AVERAGE CAPITAL EMPLOYED 2020 2021 2022 2023 2024 Net income (loss) attributable to ExxonMobil (U.S. GAAP) (22.4) 23.0 55.7 36.0 33.7 Financing costs (after-tax) Gross third-party debt (1.3) (1.2)…
Supplemental information ADJUSTED RETURN ON AVERAGE CAPITAL EMPLOYED 2019 2020 2021 2022 2023 2024 (Ex. assets under construction and cash) Net income (loss) attributable to ExxonMobil (U.S. GAAP) (22.4) 23.0 55.7 36.0 33.7 Total…
Supplemental information Slide 4 Slide 4 (cont.) 1) We sustained our 0.02 workforce Lost-Time Incident Rate again in 2024. Our workforce 4) End-to-end CCS system entails integration of CO2 capture, transportation, and storage. Lost-Time…
Supplemental information Slide 8 Slide 13 1) 10-year range includes 2010-2019, a representative 10-year business cycle which avoids 1) Earnings from projects listed on Slide 6. Earnings exclude identified items and are adjusted the…
Loading...
