ExxonMobil Q1 results beat estimates despite profit drop

ExxonMobil posted first-quarter 2025 earnings of $7.7 billion, or $1.76/share, slightly down from $8.2 billion a year earlier. Yet, earnings beat the Zacks Consensus Estimate of $1.72/share. Cash flow from operations reached $13 billion, with free cash flow at $8.8 billion.

The earnings decline was mainly due to lower refining margins, weaker crude prices, and higher costs tied to growth initiatives, though these were partially offset by volume growth in the Permian and Guyana and $0.6 billion in additional structural cost savings.

In chemicals, quarterly earnings fell to $273 million from $785 million a year ago, due to weaker margins, lower volumes, and project startup costs. Operations began at the company’s China Chemical Complex, which will produce up to 1.7 million tons/year of polyethylene and 850,000 tons/year of polypropylene, with ramp-up underway.