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ExxonMobil earns $23 billion in 2021, initiates $10 billion share repurchase program

XOM STOCK UPDATE:

Exxon Mobil Corporation announced the fourth-quarter 2021 earnings of $8.9 billion, or $2.08 per share assuming dilution, resulting in full-year earnings of $23 billion, or $5.39 per share assuming dilution. Capital and exploration expenditures were $5.8 billion in the fourth quarter and $16.6 billion for the full year 2021, in line with guidance.

Darren Woods, chairman and chief executive officer stated that “Our effective pandemic response, focused investments during the down-cycle, and structural cost savings positioned us to realize the full benefits of the market recovery in 2021….. Our new streamlined business structure is another example of the actions we are taking to further strengthen our competitive advantages and grow shareholder value.  We’ve made great progress in 2021 and our forward plans position us to lead in cash flow and earnings growth, operating performance, and the energy transition.” 

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