ExxonMobil has announced an update to its Corporate Plan through 2030, raising its outlook for earnings and cash flow growth based on stronger contributions from advantaged assets, an increasingly profitable business mix, and lower operating costs. The revised plan reflects the impact of the company’s multi-year transformation and the durable competitive advantages that continue to underpin its performance.
The updated plan projects earnings growth of $25 billion and cash flow growth of $35 billion by 2030, compared with 2024, on a constant price and margin basis. These improvements represent a $5 billion increase in both metrics versus the previous plan and are expected to be achieved without any increase in capital spending. ExxonMobil anticipates delivering this growth while generating a return on capital employed of more than 17 percent by the end of the decade.
The company’s strengthened financial outlook is also supported by disciplined capital allocation and operational execution. Earnings growth is expected to average 13 percent per year through 2030, alongside double-digit cash flow growth and even higher growth on a per-share basis, supported by continued share repurchases. Over the next five years, ExxonMobil expects to generate approximately $145 billion in cumulative surplus cash flow, assuming a real Brent price of $65.
In addition to its financial performance, ExxonMobil reported continued progress against its emissions-reduction objectives. The company has already achieved its planned reductions in greenhouse gas and flaring intensity and expects to meet its 2030 methane intensity reduction targets ahead of schedule.
ExxonMobil remains one of the largest dividend payers in the S&P 500 and has increased its annual dividend per share for 43 consecutive years, placing it among a small group of companies with such a track record. The company is on track to repurchase $20 billion of its shares this year and intends to maintain that level of buybacks through 2026, subject to market conditions.
The updated Corporate Plan underscores ExxonMobil’s focus on leveraging its capabilities to deliver resilient performance and long-term shareholder value across a range of future market environments.
For more information visit www.exxonmobil.com
