ExxonMobil's second-quarter profit beat expectations, eyes acquisition opportunities
author: Ann
2025-08-06
The largest U.S. oil producer has made it clear it is ready to take advantage of lower oil prices by making acquisitions, but only if it is confident it can create additional value.
The energy industry has been plagued by price volatility as increased production by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) pushed global benchmark Brent crude prices down 11% this quarter.
Global tariffs imposed by U.S. President Donald Trump have exacerbated price weakness by increasing the likelihood of a weakening global economy, with knock-on effects on oil demand. ExxonMobil said its oil and gas production reached its highest level in any second quarter since the merger of Exxon and Mobil 25 years ago.
ExxonMobil CEO Darren Woods said in a statement: "The second quarter once again demonstrated the value of our strategy and competitive advantages, which will continue to deliver returns to shareholders regardless of market conditions or geopolitical developments." Adjusted earnings for the second quarter were $7.1 billion, or $1.64 per share, exceeding analysts' consensus estimate of $1.56 per share, according to data compiled by the London Stock Exchange Group.
ExxonMobil shares fell 1.8% in early trading. During the quarter, ExxonMobil paid $4.3 billion in dividends and repurchased $5 billion worth of its own stock. This repurchase activity puts the company on track to meet its annual target of $20 billion.
The company's key production areas include the Permian Basin, the largest oil field in the United States, and the prolific Stabroek Block offshore Guyana. ExxonMobil has previously stated that the low-cost production from these fields enables it to remain profitable even during periods of weak oil prices. Global oil and gas production totaled 4.6 million barrels of oil equivalent per day (BOE/D) during the quarter, up from 4.5 million BOE/D in the previous quarter.
The energy industry has been plagued by price volatility as increased production by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) pushed global benchmark Brent crude prices down 11% this quarter.
Global tariffs imposed by U.S. President Donald Trump have exacerbated price weakness by increasing the likelihood of a weakening global economy, with knock-on effects on oil demand. ExxonMobil said its oil and gas production reached its highest level in any second quarter since the merger of Exxon and Mobil 25 years ago.
ExxonMobil CEO Darren Woods said in a statement: "The second quarter once again demonstrated the value of our strategy and competitive advantages, which will continue to deliver returns to shareholders regardless of market conditions or geopolitical developments." Adjusted earnings for the second quarter were $7.1 billion, or $1.64 per share, exceeding analysts' consensus estimate of $1.56 per share, according to data compiled by the London Stock Exchange Group.
ExxonMobil shares fell 1.8% in early trading. During the quarter, ExxonMobil paid $4.3 billion in dividends and repurchased $5 billion worth of its own stock. This repurchase activity puts the company on track to meet its annual target of $20 billion.
The company's key production areas include the Permian Basin, the largest oil field in the United States, and the prolific Stabroek Block offshore Guyana. ExxonMobil has previously stated that the low-cost production from these fields enables it to remain profitable even during periods of weak oil prices. Global oil and gas production totaled 4.6 million barrels of oil equivalent per day (BOE/D) during the quarter, up from 4.5 million BOE/D in the previous quarter.
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