ExxonMobil Earns $2.7 Billion in First Quarter 2021
Exxon Mobil Corporation today announced estimated first quarter 2021 earnings of $2.7 billion, or $0.64 per share assuming dilution, compared with a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, or $0.01 per share assuming dilution. First quarter capital and exploration expenditures were $3.1 billion, $4 billion lower than the first quarter of 2020.
First Quarter 2021 Results and Management Perspectives
- Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove debt reduction of over $4 billion
- Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional structural cost savings
- Advanced several initiatives to reduce emissions and launched Low Carbon Solutions business to commercialize extensive low-carbon technology portfolio
- Added three new directors to strengthen board experience in energy, capital allocation and complex business transitions