SEATTLE (Oil Monster): ExxonMobil Corporation announced third quarter 2023 financialand operating results.
According to the company press release, it generated strong third quarter earnings of $9.1 billion or $2.25 per diluted share. The company reported $16.0 billion of operating cash flow. The cash flow from operations was up significantly by $6.6 billion when matched with the prior quarter. Its cash balance surged higher by $3.4 billion. The company’s global refinery throughput at 4.2 million barrels per day is the best-ever third quarter figure.
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ExxonMobil recorded capital and exploration expenditures of $6.0 billion during the third quarter of the year. It expects the full year 2023 capital and exploration expenditures to be at the top end of the previously announced guidance of $23-$25 billion. Also, the company returned $8.1 billion to shareholders during the quarter and raised the Q4 dividend to $0.95 per share.
The company further strengthened its portfolio by closing the divestment of Thailand refinery during the quarter. The asset sales and divestments generated $0.9 billion in cash proceedings.
Commenting on the results, Darren Woods, chairman and chief executive officer noted that the company delivered another quarter of strong operational performance, earnings and cash flows.
