Exxon Mobil (NYSE:XOM) posted mixed financial results for the third quarter, as earnings exceeded market expectations while revenue fell slightly short of forecasts. Shares of the oil and gas major declined more than 1% in premarket trading following the announcement.
The company reported earnings per share of $1.88, beating the consensus estimate of $1.83, while revenue came in at $85.3 billion, just below the projected $86.48 billion.
Net production increased by 139,000 barrels of oil equivalent per day, bringing the total to 4.8 million barrels per day. Operating cash flow reached $14.8 billion, and free cash flow stood at $6.3 billion for the quarter.
“ExxonMobil had a strong third quarter, continuing to demonstrate that we are truly in a league of our own,” said Darren Woods, ExxonMobil’s chairman and CEO. “We delivered the highest earnings per share we’ve had compared to other quarters in a similar oil-price environment.”
During the quarter, ExxonMobil returned $9.4 billion to shareholders through dividends and share repurchases, and raised its fourth-quarter dividend to $1.03 per share, reinforcing its long-term commitment to shareholder returns.