BAKU, Azerbaijan, April 30. ExxonMobil saw robust cash flow from operations in 1Q2024, amounting to $14.7 billion, with free cash flow reaching $10.1 billion, Trend reports.
According to the company, shareholder distributions totaled $6.8 billion for the quarter, comprising $3.8 billion in dividends and $3.0 billion in share repurchases.
Notably, the share-repurchase program experienced a brief pause following the Pioneer S-4 filing but resumed post-Pioneer's special shareholder meeting, the company noted.
Looking ahead, assuming favorable market conditions, the annual rate of share repurchases is set to escalate to $20 billion after the transaction concludes, Exxon expects.
Meanwhile, ExxonMobil's earnings (excluding identified items) in 1Q2024 amounted to $8.2 billion, or $2.06 per share assuming dilution. This marked a decrease of 29 percent from $11.6 billion recorded in the same period of 2023.