ExxonMobil (XOM.US) expects both profit and cash flow to grow by 2030, and ROIC will exceed 17%

The Zhitong Finance App learned that before the market on Tuesday, ExxonMobil (XOM.US) announced that it will raise the 2024-2030 profit growth forecast to 25 billion US dollars and the cash flow growth forecast to 35 billion US dollars. The two indicators are each 5 billion US dollars higher than the previous plan; at the same time, the capital expenditure forecast of 28 billion to 33 billion US dollars per year until 2030 remains unchanged.

Exxon expects the average annual profit growth rate to reach 13% and cash flow to achieve double-digit growth by 2030; and through continued share repurchases, the earnings per share growth rate will reach a higher level.

The company said that on the premise that the actual price of Brent crude oil remains at 65 US dollars per barrel, the cumulative surplus cash flow is expected to reach about 145 billion US dollars over the next five years; by 2030, the return on invested capital (ROIC) will exceed 17%.

Exxon expects upstream production to reach 5.5 million barrels of oil equivalent per day by 2030, higher than the previous forecast of 5.4 million barrels of oil equivalent per day; of these, production from assets in the Permian Basin and Guyana will reach 3.7 million barrels of oil equivalent per day by 2030.

The company said the improvement in profit and cash flow prospects in its corporate plan up to 2030 reflects the increased contribution of high-quality assets, a more profitable business portfolio, and lower operating costs.

As of press release, ExxonMobil's pre-market share price rose 0.5% to $116.58.