ExxonMobil Corporation delivered a robust financial performance for the fourth quarter, surpassing analyst earnings projections despite falling short on revenue expectations. The energy behemoth reported quarterly earnings of $6.5 billion, equating to $1.53 per share. This performance, while strong, represents a decline from the $7.61 billion, or $1.72 per share, recorded in the same period the previous year.
A critical metric for investors, adjusted earnings excluding one-time events, reached $1.71 per share. This figure exceeded the Wall Street consensus estimate of $1.68 per share, as compiled by Zacks Investment Research. The company maintains a policy of not adjusting its officially reported results for such non-recurring items.
The quarter was notably driven by a significant uptick in production output. Net production rose to 5 million oil-equivalent barrels per day, a marked increase from 4.7 million in the third quarter. This surge was largely fueled by exceptional results from two key operational regions: the Permian Basin, which yielded 1.8 million oil-equivalent barrels per day, and projects in Guyana, which are rapidly approaching a gross production level of 875,000 barrels per day.
However, total revenue for the quarter was reported at $82.31 billion, slightly below the analyst forecast of $83.18 billion. This revenue shortfall, combined with external geopolitical factors, seemingly influenced investor sentiment. Consequently, ExxonMobil’s stock experienced a pre-market dip of over 2% on the announcement day.
The reporting period was also shadowed by geopolitical commentary from the White House. President Donald Trump indicated a predisposition to exclude ExxonMobil from future operations in Venezuela. This statement followed public skepticism from the company’s leadership regarding the viability of oil investments in the country following the political upheaval and ousting of former President Nicolás Maduro. Encouraging U.S. energy firms to invest and aid in rebuilding Venezuela’s crippled oil infrastructure remains a stated priority for the Trump administration.