CLAIM #63985 · Exxon Mobil Corp (XOM) · 2022Q3 earnings call · Oct 28, 2022 · due Dec 31, 2027
“In aggregate, the work we are doing today is delivering critical products in a very short market. Longer term, we're delivering improvements that strengthen our structural advantages, meet society's growing needs for energy and modern products, reduce greenhouse gas emissions and double earnings and cash flow by 2027 versus 2019.”
Darren Woods · CEO
How to check this claim
Look at: Annual earnings and cash flow (e.g., net income and cash flow from operations), full year
It came true if: FY2027 earnings and cash flow each >= 2x FY2019 reported levels
Where: Company annual report / 10-K income statement and cash flow statement
In context
“tinued to strengthen our industry-leading portfolio and increased production from our high-return assets in Guyana and the Permian. In addition, earlier this month, our low carbon solutions business signed the largest-of-its-kind customer contract to capture and store up to 2 million metric tons per year of CO2. This is a strong indication of the growth opportunity we have in this new business. We've also continued to actively manage our portfolio, announcing the Aera Upstream and Billings refinery divestments and closing the sales of our Romanian Upstream affiliate and XTO Energy Canada. Our diversified portfolio of advantaged businesses and robust balance sheet provide a strong foundation to invest in value-accretive projects and drive attractive shareholder returns through the cycle. In aggregate, the work we are doing today is delivering critical products in a very short market. Longer term, we're delivering improvements that strengthen our structural advantages, meet society's growing needs for energy and modern products, reduce greenhouse gas emissions and double earnings and cash flow by 2027 versus 2019. In short, profitably leading our industry toward a net zero future. Thank you. Jennifer Driscoll: Thank you, Darren. Before we start our Q&A session, I have two important announcements to share with you all. Please mark your calendar for our annual Corporate Plan Update scheduled for Thursday, December 8 at 8:30 a.m. Central Standard Time, where I'll be joined by Kathy Mikells to share the details of our corporate plan. Additionally, please keep an eye out for our 2022 Advancing Climate Solutions report. We expect to publish it online in mid-December. Now with that, we'll begin our Q&A session. I'll turn it back to you, Katie. Operator: [Operator Instructions]. We will take our first question from Devin McDermott with Morgan Stanley. Devin McDermott: So they were very strong results this”
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SEC filings for XOM ↗ · Claim quote is verbatim from the 2022Q3 earnings call.