Exxon Mobil - XOM STOCK NEWS

Imperial Oil has announced it will host its 2025 corporate guidance outlook call and presentation on Thursday, December 12. The event, starting at 9 a.m. MT, will be led by chairman, president and CEO Brad Corson and vice-president of investor relations Peter Shaw. The presentation will include brief remarks followed by a Q&A session with covering analysts. The webcast will be available for one year on Imperial's website, with alternative access through SEDAR+ if technical difficulties arise with the EDGAR system.

ExxonMobil (NYSE: XOM) announces plans to invest over $200 million to expand advanced recycling operations at Baytown and Beaumont, Texas. The expansion will add 350 million pounds per year of recycling capacity, bringing total capacity to 500 million pounds annually. The company aims to reach 1 billion pounds of global recycling capacity by 2027 through additional projects in North America, Europe, and Asia. The Baytown facility, operational since 2022, has already processed over 70 million pounds of plastic waste. The new operations are expected to start in 2026, serving customers in more than 15 countries across multiple sectors.

ExxonMobil (NYSE: XOM) and LG Chem have signed a non-binding MOU for a lithium carbonate offtake agreement of up to 100,000 metric tons. The lithium will be supplied from ExxonMobil's planned U.S. project to LG Chem's Tennessee cathode plant, expected to be the largest in the U.S. with an annual capacity of 60,000 tons. The project will utilize Direct Lithium Extraction (DLE) technology, promising approximately two-thirds less carbon intensity than hard rock mining. The final investment decision depends on establishing commercially competitive regulatory frameworks.

Imperial Oil has declared a quarterly dividend of 60 cents per share for the fourth quarter of 2024, maintaining the same level as the third quarter. The dividend will be payable on January 1, 2025, to shareholders of record as of December 3, 2024. As Canada's largest petroleum refiner, Imperial has maintained a consistent dividend payment record for over 100 years, with 30 consecutive years of annual dividend increases.

Imperial reported Q3 2024 net income of $1,237 million, down from $1,601 million in Q3 2023. The company achieved record upstream production of 447,000 gross oil-equivalent barrels per day, the highest third quarter in over 30 years. Kearl production matched its highest-ever Q3 at 295,000 barrels per day. Cold Lake production reached 147,000 barrels per day, boosted by Grand Rapids project. Refinery utilization was 90% amid planned turnarounds. The company returned $1,528 million to shareholders through $322 million in dividends and $1,206 million in share repurchases.

ExxonMobil (XOM) reported third-quarter 2024 earnings of $8.6 billion, or $1.92 per share. The company achieved its highest liquids production in over 40 years at 3.2 million barrels per day and delivered record high-value product sales volumes, up 10% year-to-date. Cash flow from operating activities was $17.6 billion with free cash flow of $11.3 billion. The company returned $9.8 billion to shareholders and increased its fourth-quarter dividend by 4% to $0.99 per share. Year-to-date earnings were $26.1 billion, down from $28.4 billion in 2023, mainly due to lower refining margins and natural gas prices.

ExxonMobil (NYSE: XOM) has announced the release date for its third quarter 2024 financial results. The company will issue a press release on Friday, November 1, 2024, at 5:30 a.m. CT, available at investor.exxonmobil.com. A live conference call will be held at 8:30 a.m. CT, featuring:

• Darren Woods, Chairman and CEO
• Kathy Mikells, Senior VP and CFO
• Jim Chapman, VP, Treasurer and Investor Relations

Investors can access the call via webcast or by calling (877) 400-0505 (Toll-free) or (786) 789-4835 (Local), using passcode 3923895. An archive replay and presentation materials will be available on the investor website after the call.

Imperial Oil (TSE: IMO, NYSE American: IMO) has announced its upcoming 2024 Third Quarter Earnings Call, scheduled for Friday, November 1. The call will be hosted by Brad Corson, chairman, president and CEO, and Peter Shaw, vice-president of investor relations, following the company's third quarter earnings release that morning.

The event will begin at 9 a.m. MT and will be accessible via webcast. Mr. Corson will provide brief remarks before taking questions from Imperial's covering analysts. The webcast will be available for one year on the company's website. In case of technical difficulties with the EDGAR system, investors are advised to check Imperial's website or Canada's SEDAR+ system for the earnings information.

ExxonMobil has secured the largest offshore carbon dioxide (CO2) storage lease in the U.S., covering over 271,000 acres in Texas state waters. This agreement with the Texas General Land Office (GLO) complements ExxonMobil's onshore CO2 storage portfolio and strengthens the U.S. Gulf Coast's position as a carbon capture and storage (CCS) leader.

The lease will directly benefit the Texas Permanent School Fund, enhancing education for Texas children while reducing emissions and promoting community development. ExxonMobil, which operates the largest CO2 pipeline network in the U.S., is well-positioned to leverage its infrastructure and storage space to deliver an end-to-end CCS solution.

This move aligns with ExxonMobil's commitment to CCS and its growing roster of customers ready to deploy the technology, driving substantial emissions reductions along the Gulf Coast.