Exxon Mobil Corporation reported its financial results for the third quarter and the first nine months of 2024, highlighting significant revenue and income figures. For the three months ended September 30, 2024, the company generated revenues and other income of $90,016 million, with sales and other operating revenue at $87,792 million. This represents a consistent performance compared to the same period in 2023, where revenues were also $87,792 million. However, net income attributable to ExxonMobil for Q3 2024 was $8,610 million, a decrease from $9,070 million in Q3 2023.
For the nine months ended September 30, 2024, total revenues reached $266,159 million, slightly down from $268,531 million in the previous year. Net income for this period was $27,108 million, a decline from $29,342 million in 2023. Earnings per share for Q3 2024 were reported at $1.92, compared to $2.09 in Q3 2023.
Comprehensive income for Q3 2024 was $10,285 million, an increase from $8,979 million in the same quarter of 2023. However, comprehensive income for the nine months ended September 30, 2024, decreased to $27,053 million from $29,711 million in 2023.
ExxonMobil's total assets increased significantly to $461,916 million as of September 30, 2024, up from $376,317 million at the end of 2023. Total equity also rose to $276,400 million, compared to $212,538 million at year-end 2023. The company’s cash and cash equivalents decreased to $26,926 million from $31,539 million at the end of 2023.
Strategically, ExxonMobil completed the acquisition of Pioneer Natural Resources Company on May 3, 2024, which added over 850 thousand net acres in the Midland Basin of West Texas and proved reserves exceeding 2 billion oil-equivalent barrels. The acquisition involved issuing 545 million shares of ExxonMobil common stock, valued at $63 billion on the acquisition date.
Capital and exploration expenditures for Q3 2024 were $7.2 billion, an increase of $1.1 billion from the same quarter in 2023. For the first nine months of 2024, these expenditures totaled $20.0 billion, up $1.5 billion from the previous year. The company distributed $12.3 billion to shareholders through dividends in the first nine months of 2024.
Overall, ExxonMobil's performance reflects a mix of stable revenue generation, strategic acquisitions, and increased capital expenditures, alongside a decline in net income compared to the previous fiscal period.
About EXXON MOBIL CORP
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