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Exxon Mobil Corporation (NYSE:XOM) shares are trading higher after the company reported first-quarter results.
Total revenues and other income stood at $83.1 billion, missing the consensus of $86.1 billion.
ExxonMobil's total output held steady at 4.55 million barrels of oil equivalent per day in Q1.
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Adjusted earnings dropped to $7.71 billion from $8.22 billion in Q4 2024, weighed down by weaker refining margins and lower crude prices.
Adjusted EPS stood at $1.76, beating the consensus of $1.70.
Operating cash flow from operating activities stood at $13.0 billion and free cash flow came in at $8.8 billion in the quarter.
Exxon's capital expenditures stood at $5.9 billion in the quarter, including $5.9 billion of additions to property, plant, and equipment.
The company achieved a cumulative structural cost savings of $12.7 billion versus 2019, including savings of $0.6 billion in the quarter.
The company expects to deliver cumulative savings of $18 billion through the end of 2030 versus 2019.
Dividend & Repurchase: Exxon expects a second-quarter dividend per share of $0.99, payable on June 10, to shareholders of record as of May 15, 2025.
The company's shareholder distributions totaled $9.1 billion in the quarter, comprising $4.3 billion in dividends and $4.8 billion in share repurchases.
As announced earlier, ExxonMobil plans to expand its annual $20 billion share repurchase program through 2026.
Darren Woods, chairman and chief executive officer, said, "This year, we're starting up 10 advantaged projects that are expected to generate more than $3 billion of earnings in 2026 at constant prices and margins. Continuously leveraging our competitive advantage is enabling the company to excel in the current market environment and deliver on our plans through 2030 and far into the future."
Investors can gain exposure to XOM via EA Series Trust Strive U.S. Energy ETF (NYSE:DRLL) and Fidelity MSCI Energy Index ETF (NYSE:FENY).
Price Action: XOM shares are up 1.22% at $107.07 premarket at the last check Friday.
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