ExxonMobil has updated its corporate plan through 2030, announcing higher targets for earnings and cash flow. The company now expects its earnings to grow by $25 billion and its cash flow to grow by $35 billion from 2024 to 2030.
The improved outlook is based on stronger performance from key assets, including those in the Permian Basin, Guyana, and liquefied natural gas (LNG) operations. ExxonMobil also credits cost savings and increased efficiency from its technology and transformation efforts.
These updates have contributed to a rise in ExxonMobil’s share price as investors responded positively to the new targets.
What did ExxonMobil announce in its 2030 plan update?
ExxonMobil raised its targets for earnings and cash flow growth through the year 2030.
What is driving ExxonMobil's improved outlook?
The company's growth is driven by strong performance in key oil and gas assets, cost savings, and more efficient operations.
How did the market react to ExxonMobil's announcement?
ExxonMobil's shares went up after the company revealed its higher earnings and cash flow targets.
Sources
ExxonMobil Raises Its 2030 Plan – Transformation Delivering Higher Earnings, Str...
Business Wire
Business Wire
SPRING, Texas--(BUSINESS WIRE)--ExxonMobil today updated its Corporate Plan through 2030. The Plan's increased earnings and cash flow outlook reflects stronger contributions from advantaged assets, a more profitable business mix, and lower operating costs; all driven by the company's unique set of d...
Exxon forecasts higher earnings growth through 2030
Reuters
Reuters
Top U.S. oil producer Exxon Mobil on Tuesday raised its earnings growth outlook to $25 billion and cash flow growth to $35 billion from 2024 to 2030.
Exxon Mobil Sees Higher Earnings, Greater Returns in New 2030 Plan
WSJ
WSJ
The company expects $25 billion in earnings growth and $35 billion in cash flow growth through the end of the decade, driven by improvements from its multiyear transformation.
ExxonMobil shares rise after raising earnings and cash flow targets
Proactive Investors
Proactive Investors
Exxon Mobil Corp (NYSE:XOM, XETRA:XONA) raised its expectations for future earnings and cash flow, citing growth in key assets in the Permian Basin, Guyana, and liquefied natural gas (LNG), along with additional cost savings. The energy giant updated its corporate plan through 2030, projecting $25 b...
Why ExxonMobil Rallied Today
The Motley Fool
The Motley Fool
Exxon raised its 2030 earnings and cash flow targets. The company sees increasing efficiency from its proprietary technology, cost savings programs, and advantaged oil and gas fields.
Exxon Mobil Corporation (XOM) Discusses Corporate Plan Transformation, Enhanced...
Seeking Alpha
Seeking Alpha
Exxon Mobil Corporation (XOM) Discusses Corporate Plan Transformation, Enhanced Earnings and Cash Flow Targets, and Emissions Reduction Progress Transcript
Exxon Puts Clean Hydrogen Investing on Pause. The Industry Is Reeling.
Barrons
Barrons
The company also said it reduced its low-carbon spending target to $20 billion from $30 billion through 2030.
ExxonMobil Now Expects to Make Even More Money By 2030 (Without Any Help From Oi...
The Motley Fool
The Motley Fool
Exxon anticipates delivering an additional $5 billion of earnings growth by 2030. The Permian Basin is fueling its even more optimistic outlook.
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