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Exxon Mobil | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC announcement ·  Feb 2 16:58
Summary by Moomoo AI
Exxon Mobil Corporation announced its fourth-quarter 2023 earnings on February 2, 2024, revealing a profit of $7.6 billion, a decrease from the previous quarter's $9.1 billion and the previous year's $12.75 billion. The company's full-year earnings for 2023 were reported at $36.0 billion, down from $55.74 billion in 2022. The earnings call was led by Jennifer Driscoll, Vice President of Investor Relations, alongside Darren Woods, Chairman and CEO, and Kathy Mikells, Senior Vice President and CFO. Exxon Mobil also discussed its acquisition of Pioneer Natural Resources, expected to close in Q2 2024, which is anticipated to create significant shareholder value and accelerate Pioneer's net zero ambitions by 15 years to 2035. The company plans to increase its share repurchase pace to $20 billion annually through 2025 post-acquisition. Additionally, Exxon...Show More
Exxon Mobil Corporation announced its fourth-quarter 2023 earnings on February 2, 2024, revealing a profit of $7.6 billion, a decrease from the previous quarter's $9.1 billion and the previous year's $12.75 billion. The company's full-year earnings for 2023 were reported at $36.0 billion, down from $55.74 billion in 2022. The earnings call was led by Jennifer Driscoll, Vice President of Investor Relations, alongside Darren Woods, Chairman and CEO, and Kathy Mikells, Senior Vice President and CFO. Exxon Mobil also discussed its acquisition of Pioneer Natural Resources, expected to close in Q2 2024, which is anticipated to create significant shareholder value and accelerate Pioneer's net zero ambitions by 15 years to 2035. The company plans to increase its share repurchase pace to $20 billion annually through 2025 post-acquisition. Additionally, Exxon Mobil paused its share repurchase program in January due to Pioneer's S-4 filing but expects to resume after Pioneer's special shareholder meeting on February 7th. The company's Upstream portfolio will be transformed by the Pioneer transaction, aiming for more efficient resource recovery with lower emissions. Exxon Mobil's 2023 results included industry-leading earnings, increased production in Guyana and the Permian, and record annual refinery throughput. The company also launched the new MobilTM Lithium business, aiming to supply up to one million EVs per year by 2030.
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