Exxon Mobil ‘Back on Track’ to Meet Double Earnings Target, CEO Says

Exxon Mobil set a target in 2018 of increasing earnings to $31 billion by 2025—from 2017’s adjusted profit of $15 billion, excluding the impact of U.S. tax reform and impairments.

Sabrina Valle, Reuters

Exxon Mobil Corp.’s CEO said on Nov. 10 the company is confident it will hit a target to double earnings and cash flow from operations, adding that consumers and governments must decide how quickly the world moves to cleaner fuels.

Oil and gas prices have reached multiyear highs this year, boosting results across the energy industry. The largest U.S. oil producer posted a historic loss of $22.4 billion in 2020 as oil prices tanked amid low fuel consumption during the coronavirus pandemic.

“We are back on track to deliver the growth and earnings and cash flow we anticipated,” CEO Darren Woods said in an online event organized by the New York Times.

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