No. of Recommendations: 3
Slightly off topic, but Exxon has been discussed here in connection with OXY, a substantial BRK holding.
Exxon Mobil (XOM) +0.5% pre-market Tuesday after raising its earnings growth outlook to $25 billion and cash flow growth to $35 billion during the 2024-30 period, a $5 billion increase for both metrics from its previous plan, with no capital spending increase from its previous forecast for $28 billion-$33 billion in annual spending through 2030.
Exxon (XOM) projects earnings growth will average 13% annually through 2030, with double-digit cash flow growth, and even higher per-share growth via ongoing share repurchases.
The company said it expects to generate ~$145 billion in cumulative surplus cash flow over the next five years at $65 real Brent, with return on capital employed now surpassing 17% in 2030.
Exxon (XOM) expects upstream production to reach 5.5 million boe/day by 2030, compared with its previous forecast for 5.4 million, including output from its assets in the Permian Basin and Guyana reach 3.7 million boe/day by 2030.
The company said the increased earnings and cash flow outlook in its Corporate Plan through 2030 reflects stronger contributions from advantaged assets, a more profitable business mix, and lower operating costs.
https://seekingalpha.com/news/4529617-exxon-raises...Oil and gas is not going away anytime soon. Maybe Buffett bought the wrong oil company.
