Exxon Mobil (NYSE: XOM) reported first-quarter 2025 earnings that surpassed analyst expectations, although revenue came in below forecasts as softer refining margins and crude prices weighed on performance.
Net income for the quarter totaled $7.7 billion, or $1.76 per share, beating the Wall Street estimate of $1.73 per share. Revenue was $83.13 billion, missing expectations of $86.09 billion.
Earnings were down from $8.2 billion, or $2.06 per share, in the same period last year. Exxon attributed the decline to a significant drop in industry refining margins and crude prices, though continued structural cost reductions and higher output from strategic assets partially offset the impact.
Production rose 20% year-over-year to 4.6 million oil-equivalent barrels per day, supported by growth in the Permian Basin and Guyana. The upstream segment delivered $6.8 billion in earnings, up from $5.7 billion a year earlier, aided by the Pioneer acquisition.
Cash flow from operations reached $13.0 billion, while free cash flow stood at $8.8 billion. Exxon returned $9.1 billion to shareholders during the quarter, including $4.3 billion in dividends and $4.8 billion in share repurchases.
The company reaffirmed its full-year capital expenditure outlook of $27 billion to $29 billion, citing progress on strategic initiatives, including the start-up of its China Chemical Complex and a second advanced recycling unit in Baytown, Texas.
As of the latest update, Exxon Mobil (NYSE: XOM) shares are down 1.06%, trading at $105.08 in pre-market trading on Monday.
David Kirakosyan is a seasoned financial journalist with nearly a decade of hands-on experience in covering the U.S. stock markets. Since 2016, he has written thousands of equity news articles, detailed market analyses, and investment insights for trusted platforms like Benzinga, Investing.com, and StreetInsider. David holds a Master of Science in Finance and is a Level 2 CFA® candidate, reflecting his deep commitment to financial expertise and ethical standards. His reporting combines real-world market experience with a strong academic foundation, helping readers make informed decisions backed by reliable information. Read Full Bio
