https://www.nasdaq.com/articles/exxonmobil-xom-tops-q3-earnings-estimates-plans-%2410b-buyback-2021-10-29
3 replies (most recent on top)
Need to keep that $10 billion in savings so not have to borrow during next downturn.
Stock buybacks have 0% Rate of return. Maybe 5% ROR if consider not have to pay dividends on boughtback stock.
Pay off all debt, keep billions in savings, and invest in high ROR projects instead of disposing of money in buybacks.
Assets can be easily written off or divested, actions speaks louder than words.
Employees are EM's greatest asset (until not) - used to generate rewards for shareholders. EM has always put money where its mouth is.