Exxon Mobil profits beat as manufacturing enlargement and price cuts offset the edge of falling oil costs

Exxon Mobil reported first-quarter profits Friday that beat Wall Side road expectancies, however declined from the prior yr as crude oil costs have fallen sharply on fears that President Donald Trump’s price lists will accident world call for.

The oil main stated quantity enlargement within the Permian Basin and Guyana blended with cost-cutting measures in large part offset decrease profits from vulnerable oil costs. U.S. crude costs have fallen 18% this yr as Trump’s price lists carry fears of slower call for on the identical month manufacturers in OPEC+ plan to extend provide.

Exxon stocks had been up lower than 1% in premarket buying and selling then the consequences.

Here’s what Exxon reported for the primary quarter when put next with what Wall Side road was once anticipating, in keeping with a survey of analysts by way of LSEG: 

• Income in keeping with proportion: $1.76 vs. $1.73 in keeping with proportion anticipated
• Income: $83.13 billion, vs. $86.72 billion anticipated

Exxon stated its income declined 6% to $7.71 billion, or $1.76 in keeping with proportion, from $8.22 billion, or $2.06 in keeping with proportion, in the similar quarter utmost yr. Income got here in at $83.13 billion, quite upper than $83.08 billion a yr in the past.

The oil main’s world manufacturing trade posted profits of $6.76 billion within the quarter, an build up of about 19% from $5.66 billion in the similar length a yr in the past. Earnings within the department rose because of enlargement within the Permian and Guyana in addition to charge financial savings.

Income in Exxon’s U.S. manufacturing department soared greater than 70% to $1.87 billion from $1.05 billion in the similar quarter in 2024.

Exxon’s world manufacturing got here in at 4.55 million barrels in keeping with presen, an build up of 20% in comparison to 3.78 million bpd within the year-ago length.

Its refining trade posted a benefit of $827 million, unwell 40% from $1.38 billion within the first quarter of 2024 because of decrease refining margins.

Exxon stated first-quarter capital expenditures of $5.9 billion had been in keeping with its steering of $27 billion to $29 billion for 2025.

The corporate stated it returned $9.1 billion to shareholders within the quarter, together with $4.3 billion in dividends and $4.8 billion in proportion purchases.

Read the full earnings release here.