BAKU, Azerbaijan, February 3. ExxonMobil recorded robust earnings of $36 billion in 2023, Trend reports.
According to the company's latest financial results, that is down by almost $20 billion year-on-year ($55.7 billion in 2022).
In the fourth quarter, ExxonMobil's earnings amounted to $7.6 billion, showing a decrease from the third quarter's $9.1 billion. The decline was primarily attributed to identified items, with a reduction of $2.3 billion, largely stemming from asset impairments. However, this was partially offset by favorable tax and divestment-related items. Excluding these identified items, earnings reached $10 billion, marking an increase of $0.8 billion compared to the third quarter.
Furthermore, in 2023, ExxonMobil managed to make $55.4 billion in cash flow from operating (CFFO) activities and handed out a generous $32.4 billion to its shareholders ($14.9 billion in dividends and $17.4 billion in share repurchases).
In the fourth quarter, the company achieved robust cash flow from operations, reaching $13.7 billion, and generated free cash flow amounting to $8 billion. Over the entire year, ExxonMobil's CFFO increased by $1.9 billion, accompanied by a noteworthy free cash flow of $36.1 billion.