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Exxon Mobil's strong fourth quarter fueled by rising production in the Permian, Guyana

By MICHELLE CHAPMAN - Jan 31, 2025, 07:36 AM ET
Last Updated - Jan 31, 2025, 07:36 AM EST
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File - A sign marks the entrance to an ExxonMobil fuel storage and distribution facility in Irving, Texas, Jan. 25, 2023. (AP Photo/LM Otero, File)

Exxon Mobil’s fourth-quarter adjusted profit managed to beat Wall Street’s expectations, as the oil and gas company increased production in Permian and Guyana

Exxon Mobil posted strong fourth quarter profits as the oil and gas company increased production in the Permian basin at home, and in Guyana.

The Texas company earned $7.61 billion, or $1.72 per share, for the three months ended Dec. 31. It earned $7.63 billion, or $1.91 per share, in the prior-year period.

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Removing one time costs and charges, earnings were $1.67 per share.

The results topped Wall Street expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts polled by Zacks Investment Research anticipated earnings of $1.55 per share.

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