Exxon Mobil reported first-quarter earnings Friday that beat Wall Avenue expectations, however declined from the prior yr as crude oil costs have fallen sharply on fears that President Donald Trump’s tariffs will hit international demand.
The oil main stated quantity progress within the Permian Basin and Guyana mixed with cost-cutting measures largely offset decrease earnings from weak oil costs. U.S. crude costs have fallen 18% this yr as Trump’s tariffs increase fears of slower demand on the identical time producers in OPEC+ plan to extend provide.
Exxon shares have been up lower than 1% in premarket buying and selling after the outcomes.
Here’s what Exxon reported for the primary quarter in contrast with what Wall Avenue was anticipating, based mostly on a survey of analysts by LSEG:
- Earnings per share: $1.76 vs. $1.73 per share anticipated
- Income: $83.13 billion, vs. $86.72 billion anticipated
Exxon stated its income declined 6% to $7.71 billion, or $1.76 per share, from $8.22 billion, or $2.06 per share, in the identical quarter final yr.
The oil main’s international manufacturing enterprise posted earnings of $6.76 billion within the quarter, a rise of about 19% from $5.66 billion in the identical interval a yr in the past. Earnings within the section rose because of progress within the Permian and Guyana in addition to price financial savings.
Earnings in Exxon’s U.S. manufacturing section soared greater than 70% to $1.87 billion from $1.05 billion in the identical quarter in 2024.
Exxon’s international manufacturing got here in at 4.55 million barrels per day, a rise of 20% in comparison with 3.78 million bpd within the year-ago interval.
Exxon stated first-quarter capital expenditures of $5.9 billion have been in step with its steerage of $27 billion to $29 billion for 2025.
The corporate stated it returned $9.1 billion to shareholders within the quarter, together with $4.3 billion in dividends and $4.8 billion in share purchases.
Read the full earnings release here.
It is a creating story. Please examine again for updates.
