ExxonMobil's second-quarter adjusted earnings rose 67% to $14.7 billion, or $3.52 per share, missing the $3.60 analysts expected. Free cash flow surged to $17.2 billion, enabling the company to return an industry-leading $9.4 billion to shareholders, including $4.3 billion in dividends. The oil giant also reduced debt by $7 billion, lowering its net debt-to-capital ratio to 11%, further fortifying its dividend foundation. Exxon has increased its dividend for 42 consecutive years.
Exxon Mobil CorpEarnings missed estimates but free cash flow surged, enabling industry-leading shareholder returns and debt reduction, strengthening dividend foundation.
