Exxon Mobil Corporation estimated third-quarter 2021 earnings of $6.8 billion, or $1.57 per share assuming dilution, the company announced on Friday.
According to the statement, third-quarter capital and exploration expenditures were $3.9 billion, bringing year-to-date 2021 investments to $10.8 billion, as the company continued strategic investments in its advantaged assets, including Guyana, Permian Basin and in chemical sector.
'Quarterly earnings increased by $7.4 billion versus 2020 on improved demand and strong operations,' the statement read and added that cash flow from operating activities of $12.1 billion funded capital investments, debt reduction, and dividend.
The firm, starting next year, will share repurchase program of up to $10 billion over 12 to 24 months.
In addition, Exxon Mobil Corporation is on track to achieve 2025 emission-reduction plans by year end.
By Gulsen Cagatay