Please post your thoughts from the 4Q2023 Earnings Call on 2 February 2023
https://investor.exxonmobil.com/earnings
(1) Cumulative Structural Cost Savings between 2019 and 2023: $9.7 B vs. 2019; leading peers
(2) 2024: continued growth in shareholder value: Continual progress in structural cost savings; $15 billion by 2027. Translation: Asset sales and staff reduction will continue from 2024 to 2027.
https://www.offshore-technology.com/news/exxonmobil-q4-2023-earnings/?cf-view&cf-closed
ExxonMobil reports 40% fall in Q4 2023 earnings
The US oil and gas company's results were impacted by unfavourable identified items, including a substantial $2bn impairment.
February 5, 2024
ExxonMobil has reported a decline in its fourth-quarter (Q4) earnings of 2023, with figures showing a 40.1% drop to $7.63bn from the $12.75bn reported in the same period of 2022.
The US oil and gas company’s results were impacted by unfavourable identified items, including a substantial $2bn impairment due to regulatory challenges in California.
The oil and gas industry has seen a downturn in profits by roughly a third from the record highs of 2022, as prices fell following the initial surge caused by the conflict in Ukraine, reported Reuters.
Exxon noted that the impairments were partly balanced by positive tax and divestment-related items.
The company’s full-year earnings were $36bn, down from $55.74bn in 2022.
OP, this company is so ffu-kked up. ExxonMobil RIP. You were a good place to work. You'll be remembered.
company going nowhere except doing business with itself to the benefit of the top 20%..
That statement is an indictment of the PDS and the people recycling of PDS moments . Also the so called Hi POS running around changing gigs every 18 months. All they do i nothing but convolute things .
At 8% per year for 4 years, I.e. (0.92)^4 = 0.716. Which means after 4 years, 28 percent of the current staff will be gone. Look around you, among 3 of your buddies and you, one will be out of XOM by 2027.
Couldn't even be bothered to listen to it this quarter. Results weak, stock flat, company going nowhere except doing business with itself to the benefit of the top 20%.
Is this what great looks like?
Engineering students don’t. It’s from a publication we heavily influence to have that metric within the USA O&G industry. We’re behind every significant company outside of pure O&G (e.g. Coke, HP, Google, Amazon, General Mills, etc). It’s a terrible lie to highlight this both internally and externally which shows the lack of integrity by some of our senior leaders.
Well, that and glassdoor has us ranked last for employee sentiment amongst all competitors.
The engineering students they've been plugging for a year to hide the fact you have almost 0 new engineers anymore from the USA.
Cost savings because we're using chatbots for customer experience?!? Yay?
Didn't know that new engineering students consider exxon a great place to work.