Exxon Mobil Corporation ( XOM ) shares are trading higher after the company reported fourth-quarter results. 

Total revenues and other income stood at $83.4 billion, missing the consensus of $86.6 billion.

Net production in the fourth quarter was 4.6 million oil-equivalent barrels per day, an increase of 20,000 oil-equivalent barrels per day from the prior quarter.

Related: Oil Price Drop To Cut Exxon Mobil’s Q4 Upstream Earnings By Up To $0.9 Billion: Details

Adjusted net profit came in at $7.39 billion, down from $8.61 billion in the prior quarter. Adjusted EPS stood at $1.67, beating the consensus of $1.56.

Exxon’s capital and exploration expenditures stood at $7.51 billion in the fourth quarter, bringing 2024 expenditures to $27.6 billion.

The company achieved a cumulative structural cost savings of $12.1 billion versus 2019, including savings of $0.8 billion in the quarter and $2.4 billion during the year.

The company expects to deliver cumulative savings of $18 billion through the end of 2030 versus 2019.

Dividend & Repurchase: Exxon expects a first-quarter dividend per share of $0.99, payable on March 10, to shareholders of record as of February 12, 2025.

The company’s shareholder distributions totaled $36.0 billion in 2024, comprising $16.7 billion in dividends and $19.3 billion in share repurchases.

As announced earlier, ExxonMobil ( XOM ) plans to expand its annual $20 billion share repurchase program through 2026. 

Darren Woods, chairman and chief executive officer, said, “Financially, we delivered some of our highest earnings and operating cash flow in a decade. We earned returns higher than our peers and well above our cost of capital, and we distributed more cash to shareholders than all but five companies in the entire S&P 500.”

“We’re confident we’ll deliver on the plans we laid out to generate significantly more earnings and cash – not only to 2030, but well beyond. Our unique investment opportunities give us profitable growth well into the future, which underpins our financial strength and ability to return significant cash to shareholders.”

Investors can gain exposure to XOM via iShares U.S. Energy ETF ( IYE ) and SPDR Select Sector Fund – Energy Select Sector .

Price Action: XOM shares are up 0.91% at $110.57 premarket at the last check Friday.

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