Exxon Mobil’s fourth-quarter adjusted profit managed to beat Wall Street’s expectations, as the oil and gas company increased production in Permian and Guyana
ByMICHELLE CHAPMAN AP business writer
January 31, 2025, 7: 07 AM
Exxon Mobil posted strong fourth quarter profits as the oil and gas company increased production in the Permian basin at home, and in Guyana.
The Texas company earned $7.61 billion, or $1.72 per share, for the three months ended Dec. 31. It earned $7.63 billion, or $1.91 per share, in the prior-year period.
Removing one time costs and charges, earnings were $1.67 per share.
The results topped Wall Street expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts polled by Zacks Investment Research anticipated earnings of $1.55 per share.
Exxon Mobil said Friday that excluding one-time charges and benefits, earnings rose $1.6 billion due to growth on record production in Guyana, in S