The company announced estimated first quarter 2021 earnings of $2.7 billion, or $0.64 per share assuming dilution, compared with a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, or $0.01 per share assuming dilution. First quarter capital and exploration expenditures were $3.1 billion, $4 billion lower than the first quarter of 2020. Oil-equivalent production was 3.8 million barrels per day, up 3 percent from the fourth quarter of 2020. Excluding entitlement effects, government mandates and divestments, oil-equivalent production was up 2 percent. During severe winter weather in Texas in February, ExxonMobil cogeneration facilities generated 400 megawatts of electricity, helping to power about 200,000 homes. The severe weather event reduced first quarter earnings by nearly $600 million across all businesses from decreased production and lower sales volumes, repair costs, and the net impact of energy purchases and sales. All affected facilities have resumed normal operations. Exxon Mobil shares offer strong total return possibilities to 2024-2026. Recovery potential is relatively attractive
if the expected comeback in fuel demand takes place. Meanwhile, the dividend provides strong income.
• Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove
debt reduction of over $4 billion.
• Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional
structural cost savings.
if the expected comeback in fuel demand takes place. Meanwhile, the dividend provides strong income.
• Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove
debt reduction of over $4 billion.
• Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional
structural cost savings.
