ExxonMobil reports $8.6 billion Q3 2024 earnings, hits record 3.2M barrels/day production

ExxonMobil has reported impressive financial and operational performance for the third quarter of 2024, highlighting its strength in energy production and sustainability initiatives. The company posted earnings of US$8.6 billion, with cash flow from operations totaling US$17.6 billion and free cash flow reaching US$11.3 billion.

Operationally, ExxonMobil achieved record liquids production of 3.2 million barrels per day, driven by strategic investments and efficiency improvements. High-value product sales increased by 10% compared to the previous year, reflecting the company’s focus on meeting growing global energy demands.

In sustainability, ExxonMobil advanced its carbon capture and hydrogen projects, securing several new contracts and demonstrating its commitment to reducing emissions and transitioning to low-carbon solutions.

ExxonMobil also rewarded shareholders by returning US$9.8 billion through dividends and share repurchases, underscoring its dedication to delivering value. Additionally, the company announced a 4% increase in its quarterly dividend, now at US$0.99 per share.

Chairman and CEO Darren Woods emphasised ExxonMobil’s balanced approach to meeting immediate energy needs while investing in future-focused technologies. He highlighted the company’s strong financial position and continued focus on innovation to deliver sustainable energy solutions.