ExxonMobil Earns $2.7 Billion in First Quarter 2021

May 4, 2021 | Oil & Gas | Energy Facts Staff Writer | 3min

Exxon Mobil Corporation today announced estimated first quarter 2021 earnings of $2.7 billion, or $0.64 per share assuming dilution, compared with a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, or $0.01 per share assuming dilution. First quarter capital and exploration expenditures were $3.1 billion, $4 billion lower than the first quarter of 2020.

First Quarter 2021 Results and Management Perspectives

  • Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove debt reduction of over $4 billion
  • Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional structural cost savings
  • Advanced several initiatives to reduce emissions and launched Low Carbon Solutions business to commercialize extensive low-carbon technology portfolio
  • Added three new directors to strengthen board experience in energy, capital allocation and complex business transitions