What's Going On With ExxonMobil Stock Today?

Shares of Exxon Mobil Corporation (NASDAQ:XOM) are trading higher Tuesday after the oil and gas company highlighted a stronger outlook for earnings and cash flow in its corporate plan.

• Exxon Mobil shares are trending higher. What’s driving XOM shares up?

What To Know: ExxonMobil updated its corporate plan through 2030, forecasting increases of $5 billion in earnings and cash flow growth with no capital spending increase. This puts expected earnings growth at $25 billion and cash flow growth at $35 billion by 2030.

"Several years ago, when we began to transform this company, we did so with one objective: to fully unlock our competitive advantages. Today, our transformation is driving industry-leading results," said Darren Woods, ExxonMobil chairman and CEO. "With our updated plan, we're extending that leadership position.”

Earnings growth is projected to average 13% per year through 2030, with double-digit cash flow growth, and even higher per-share growth, driven by ongoing share repurchases. The company also increased its cumulative structural cost savings plan by $2 billion to a total of $20 billion and said it expects all 2030 corporate GHG emissions intensity plans to be achieved in 2026.

Over the next five years, ExxonMobil expects to generate roughly $145 billion in cumulative surplus cash flow. Currently the second largest dividend payer in the S&P 500, the company has increased its annual dividend per share for 43 consecutive years. It remains on track to repurchase $20 billion worth of its shares this year, with plans to maintain that pace through 2026.

ExxonMobil announced on a conference call following the update that CFO Kathy Mikells will retire in February 2026.

XOM Price Action: Shares were up 2.41%, trading at $118.78 at the time of publication, according to Benzinga Pro.

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