ExxonMobil reported first-quarter 2025 earnings of $7.7 billion, a decline from $8.2 billion in Q1 2024, due to lower oil prices. However, results exceeded analyst expectations, driven by increased production in the Permian Basin and offshore Guyana. Earnings per share fell to $1.76 from $2.06, but surpassed the $1.73 estimate. Cash flow from operations also dropped to $13.0 billion from $14.7 billion a year earlier. Exxon remains confident in its resilience, citing structural and cost-saving efforts.
ExxonMobil’s Q1 earnings were supported by production growth in the Permian and Guyana, cost savings, and favorable timing, which offset declines from weaker refining margins, lower crude prices, and higher growth-related expenses. Upstream earnings rose by $1.1 billion year-over-year to $6.8 billion, with net production up 20% to 4.6 million barrels per day, boosted by the Pioneer acquisition. While refining and chemicals earnings declined year-over-year, global refining profits doubled from Q4 due to stronger North American margins and reduced seasonal costs.
ExxonMobil returned $9.1 billion to shareholders in Q1, including $4.3 billion in dividends and $4.8 billion in share buybacks, aligning with its $20 billion annual repurchase plan through 2026. CEO Darren Woods emphasized the company’s resilience amid market uncertainty. Meanwhile, Chevron met analyst expectations, with its refining segment rebounding from a Q4 2024 loss.
