ExxonMobil Corporation announced on Friday that its GAAP earnings in the fourth quarter of its fiscal 2023 amounted to $7.63 billion, falling 40% year on year. Earnings per common share stood at $1.91 after declining 38% from the fourth trimester in 2022. Total revenues and other income were 11% lower and landed at $84.34 billion.
"Our consistent strategy and execution excellence across the business delivered industry-leading earnings and enabled us to return more cash to shareholders than our peers in 2023 … These results demonstrate the fundamental improvements we've made to our business, reflecting our progress in high-grading our portfolio through investments in advantaged projects and select divestments, while, at the same time, driving a higher level of efficiency and effectiveness throughout the business," Chairman and CEO Darren Woods noted.
ExxonMobil's stock was 1.77% higher in premarket trade following the release of the fourth-quarter figures.
