Exxon Mobil Corporation announced Tuesday 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.
“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,” said Darren Woods, chairman and chief executive officer. “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.”
The company reported $48 billion of cash flow from operating activities, the highest level since 2012, more than covering capital investments, debt reduction, and dividend
Structural costs were reduced by an additional $1.9 billion, increasing total savings to nearly $5 billion versus 2019, the company said, adding that its balance sheet has been strengthened to pre-pandemic levels by paying down $20 billion in debt.
Exxon Mobil said it expects to achieve 2025 emission-reduction plans four years ahead of schedule