Law Offices of Howard G. Smith Encourages Sable Offshore Corp. (SOC) Investors To Inquire About Securities Fraud Class Action
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN SABLE OFFSHORE CORP. (SOC), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On May 19, 2025, Sable announced that it had resumed oil production from one of three offshore platforms related for its Las Flores pipelines ('Onshore Pipeline') in California.
Then, on May 23, 2025, the California State Land Commission sent Sable a letter regarding its May 19th announcement, warning that it 'appears to mischaracterize the nature of recent activities, causing significant public confusion and raising questions regarding Sable's intentions,' and that Sable had conflated offshore well testing activities required by a federal regulatory agency with the restart of operations.
Then, on May 28, 2025, the Santa Barbara County Superior Court approved a preliminary injunction from the California Coastal Commission regarding Sable's maintenance and repair work in the coastal zone related to the Onshore Pipeline.
On this news, Sable's stock price fell $5.04, or 15.3%, to close at $27.89 per share on May 28, 2025, thereby injuring investors.
Then, on June 4, 2025, Sable disclosed that a Santa Barbara County Superior Court Judge had granted 'temporary restraining orders prohibiting [Sable] from restarting transportation of oil through the Las Flores Pipeline System.'
On this news, Sable's stock price fell $0.94, or 3.9%, to close at $23.10 per share on June 4, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants represented that Sable Offshore Corp. had restarted oil production off the coast of California when it had not; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Contact Us To Participate or Learn More:
If you purchased Sable securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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LyondellBasell reports second quarter 2025 earnings
HOUSTON and LONDON, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Net income: $115 million, $202 million excluding identified items1 Diluted earnings per share: $0.34 per share; $0.62 per share excluding identified items EBITDA: $606 million, $715 million excluding identified items Cash from operating activities: $351 million Returned $536 million to shareholders through dividends and share repurchases Continued to execute on strategy while navigating the cycle with operational and financial discipline: Announced the planned sale of select European assets to further optimize the business portfolio Deferring construction of Flex-2 project to preserve capital during the cycle downturn Cash Improvement Plan on track to achieve an increased run-rate of $600 million dollars for 2025 while expanding into 2026 with an incremental target of $500 million LyondellBasell Industries (NYSE: LYB) (the "company") today announced results for the second quarter 2025. Comparisons with the prior quarter and second quarter 2024 are available in the following table: Table 1 - Earnings Summary Three Months Ended Six Months Ended June 30,2025 March 31,2025 June 30,2024 June 30,2025 June 30,2024 Sales and other operating revenues $ 7,658 $ 7,677 $ 8,678 $ 15,335 $ 16,982 Net income 115 177 924 292 1,397 Diluted earnings per share 0.34 0.54 2.82 0.88 4.25 Weighted average diluted share count 322 324 326 323 326 EBITDA1 606 655 1,643 1,261 2,689 Net income excluding identified items $ 202 $ 110 $ 724 $ 312 $ 1,157 Diluted earnings per share excluding identified items 0.62 0.33 2.20 0.95 3.52 Gain on sale of business, pre-tax — — (293 ) — (293 ) Asset write-downs, pre-tax 32 — — 32 — Cash Improvement Plan costs, pre-tax 20 — — 20 — Dutch PO joint venture exit costs, pre-tax — 117 — 117 — European transaction costs, pre-tax 10 — — 10 — Loss (income) from discontinued operations, pre-tax 47 (196 ) 26 (149 ) (26 ) EBITDA excluding identified items 715 576 1,330 1,291 2,293 (1) See 'Information Related to Financial Measures' for a discussion of the company's use of non-GAAP financial measures and Tables 2-5 for reconciliations or calculations of these financial measures. 'Identified items' include adjustments for lower of cost or market ("LCM"), gain on sale of business, asset write-downs in excess of $10 million in aggregate for the period, Cash Improvement Plan costs, Dutch PO joint venture exit costs, European transaction costs and discontinued operations. 'As we advance our three-pillar strategy, LYB continues to grow and upgrade our core businesses through disciplined capital allocation that extends our competitive advantage. We are expanding our Cash Improvement Plan to help navigate a prolonged cyclical downturn. Our Value Enhancement Program and portfolio optimization actions remain on track to reap the benefits from a cycle recovery," said Peter Vanacker, LyondellBasell chief executive officer. "We are encouraged by recent improvements in pricing and demand for polyolefins, and we remain cautiously optimistic regarding policy developments to address excess capacity in China and revitalize the European chemical industry. LYB is well-positioned to capture these market tailwinds and create durable, long-term value for our shareholders through consistent execution of our strategy.' SECOND QUARTER 2025 RESULTSThe company reported net income for the second quarter 2025 of $115 million, or $0.34 per diluted share. During the quarter, the company recognized identified items of $87 million, net of tax. These items, which impacted second quarter earnings by $0.28 per share, related to asset write-downs, transaction costs, the Cash Improvement Plan, and discontinued operations. Second quarter 2025 EBITDA was $606 million, or $715 million excluding identified items. In North America, the successful completion of turnarounds at the company's Channelview complex enabled higher operating rates that supported a sequential improvement in integrated polyethylene volumes and margins. Domestic demand for polyethylene and polypropylene was seasonally stronger, led by solid demand from consumer packaging, healthcare, and building and construction as well as increased demand from infrastructure markets. A June increase in polyethylene contract prices is providing momentum for third quarter profitability. In Europe, lower feedstock costs helped improve integrated polyethylene margins while polyolefins volumes benefited from increased seasonal demand. Intermediate Chemicals profitability improved with stronger styrene margins due to lower benzene costs and price support from second quarter industry outages. Oxyfuels margins fell as lower crude oil prices limited the typical seasonal uplift from the summer driving season. During the second quarter, global markets began to adapt to trade volatility, contributing to a more stable operating environment across several product chains. LyondellBasell generated $351 million in cash from operating activities during the second quarter. The company maintained its balanced approach to capital allocation by investing $539 million in capital expenditures and returning $536 million to shareholders through dividends and share repurchases. At the end of the quarter, LYB held $1.7 billion in cash and cash equivalents and maintained $6.4 billion in available liquidity. STRATEGY HIGHLIGHTSLYB continued to execute on its three-pillar strategy by taking decisive actions to reshape its asset base and enhance long-term value creation. The planned sale of four European assets repositions LYB to better serve global markets from a more cost-advantaged asset base. To better align investment levels with cash generation, LYB will delay construction of the Flex-2 project. The Cash Improvement Plan has been expanded and is targeting at least $1.1 billion in cash improvements over 2025 and 2026 to protect the balance sheet and support shareholder returns. The company remains firmly committed to a balanced approach to capital allocation to ensure safe and reliable operations, disciplined growth and shareholder returns while maintaining an investment-grade balance sheet. OUTLOOKIn the third quarter, the company expects North American integrated polyethylene margins to improve due to the completion of planned maintenance in April and increased prices supported by solid domestic demand and stronger export volumes. In Europe, steady seasonal demand and favorable feedstock costs are expected to continue. Ongoing capacity rationalizations across the region should help to balance regional supply and demand. Oxyfuels margins are expected to remain low for the remainder of the summer season. LYB continues to carefully evaluate potential risks and opportunities associated with evolving tariffs and global trade flows. To align with global demand and the company's planned maintenance, LYB expects third quarter operating rates of 85% for North American olefins and polyolefins (O&P) assets, 75% for European O&P assets and 80% for Intermediates & Derivatives (I&D) assets. CONFERENCE CALLLYB will host a conference call August 1 at 11 a.m. ET. Participants on the call will include Chief Executive Officer Peter Vanacker, Executive Vice President and Chief Financial Officer Agustin Izquierdo, Executive Vice President of Global Olefins and Polyolefins Kim Foley, Executive Vice President of Intermediates and Derivatives Aaron Ledet, Executive Vice President of Advanced Polymer Solutions Torkel Rhenman and Head of Investor Relations David Kinney. For event access, the toll-free dial-in number is 1-877-407-8029, international dial-in number is 201-689-8029 or click the CallMe link. The slides and webcast that accompany the call will be available at A replay of the call will be available from 1 p.m. ET August 1 until September 1, 2025. The replay toll-free dial-in numbers are 1-877-660-6853 and 201-612-7415. The access ID for each is 13746206. ABOUT LYONDELLBASELLWe are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit or follow @LyondellBasell on LinkedIn. FORWARD-LOOKING STATEMENTSThe statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this release, the words 'estimate,' 'believe,' 'continue,' 'could,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'should,' 'will,' 'expect,' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results could differ materially based on factors including, but not limited to, market conditions, the business cyclicality of the chemical and polymers industries; the availability, cost and price volatility of raw materials and utilities, particularly the cost of oil, natural gas, and associated natural gas liquids; our ability to successfully implement initiatives identified pursuant to our Value Enhancement Program and generate anticipated earnings; competitive product and pricing pressures; labor conditions; our ability to attract and retain key personnel; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, supplier disruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation interruptions, spills and releases and other environmental risks); the supply/demand balances for our and our joint ventures' products, and the related effects of industry production capacities and operating rates; our ability to manage costs; future financial and operating results; our ability to align our assets and grow and upgrade our core, including completing the proposed sale of certain European assets; our ability to reduce our fixed costs and increase cash flow; legal and environmental proceedings; tax rulings, consequences or proceedings; the impacts of tariffs and trade disruptions; technological developments, and our ability to develop new products and process technologies; our ability to meet our sustainability goals, including the ability to operate safely, increase production of recycled and renewable-based polymers to meet our targets and forecasts, and reduce our emissions and achieve net zero emissions by the time set in our goals; our ability to procure energy from renewable sources; our ability to build a profitable Circular & Low Carbon Solutions business; potential governmental regulatory actions; political unrest and terrorist acts; risks and uncertainties posed by international operations, including foreign currency fluctuations; and our ability to comply with debt covenants and to repay our debt. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the 'Risk Factors' section of our Form 10-K for the year ended December 31, 2024, which can be found at on the Investors page and on the Securities and Exchange Commission's website at There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law. This release contains time sensitive information that is accurate only as of the date hereof. Information contained in this release is unaudited and is subject to change. We undertake no obligation to update the information presented herein except as required by law. INFORMATION RELATED TO FINANCIAL MEASURESThis release makes reference to certain non-GAAP financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. We report our financial results in accordance with U.S. generally accepted accounting principles, but believe that certain non-GAAP financial measures, such as EBITDA, and EBITDA, net income and diluted EPS exclusive of identified items provide useful supplemental information to investors regarding the underlying business trends and performance of the company's ongoing operations and are useful for period-over-period comparisons of such operations. Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP. We calculate EBITDA as net income (loss) plus interest expense (net), provision for (benefit from) income taxes, and depreciation and amortization. EBITDA should not be considered an alternative to profit or operating profit for any period as an indicator of our performance, or as an alternative to operating cash flows as a measure of our liquidity. We also present EBITDA, net income and diluted EPS exclusive of identified items. Identified items include adjustments for 'lower of cost or market" ('LCM'), gain on sale of business, asset write-downs in excess of $10 million in aggregate for the period, Cash Improvement Plan costs, Dutch PO joint venture exit costs, European transaction costs and discontinued operations. Asset write-downs include impairments of goodwill, impairments of long-lived assets, a write-down of a related party loan receivable and a fourth quarter 2024 deferred tax valuation allowance for one of our Chinese joint ventures recognized in Income (loss) from equity investments. Our inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out ('LIFO') inventory valuation methodology, which means that the most recently incurred costs are charged to cost of sales and inventories are valued at the earliest acquisition costs. Fluctuation in the prices of crude oil, natural gas and correlated products from period to period may result in the recognition of charges to adjust the value of inventory to the lower of cost or market in periods of falling prices and the reversal of those charges in subsequent interim periods, within the same fiscal year as the charge, as market prices recover. A gain or loss on sale of a business is calculated as the consideration received from the sale less its carrying value. Property, plant and equipment are recorded at historical costs. If it is determined that an asset or asset group's undiscounted future cash flows will not be sufficient to recover the carrying amount, an impairment charge is recognized to write the asset down to its estimated fair value. Goodwill is tested for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of a reporting unit with goodwill is below its carrying amount. If it is determined that the carrying value of the reporting unit including goodwill exceeds its fair value, an impairment charge is recognized. We assess our equity investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If the decline in value is considered to be other than temporary the investment is written down to its estimated fair value. Valuation allowances are provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. In June 2025, we announced plans to sell select olefins & polyolefins assets and the associated business in Europe, resulting in selling expenses, separation costs and employee-related charges (collectively referred to as "transaction costs"). In April 2025, the Company announced the Cash Improvement Plan, focused on strengthening financial performance, which resulted in employee-related charges across all segments. In March 2025, we announced plans to permanently close our Dutch PO joint venture asset, resulting in the recognition of shutdown-related costs. In February 2025, we ceased business operations at our Houston refinery. Accordingly, our refining business, previously disclosed as the Refining segment, is reported as a discontinued operation. These non-GAAP financial measures as presented herein, may not be comparable to similarly titled measures reported by other companies due to differences in the way the measures are calculated. In addition, we include calculations for certain other financial measures to facilitate understanding. This release contains time sensitive information that is accurate only as of the time hereof. Information contained in this release is unaudited and subject to change. LyondellBasell undertakes no obligation to update the information presented herein except to the extent required by law. Additional operating and financial information may be found on our website at Source: LyondellBasell Industries Investor Contact: David Kinney +1 713-309-7141Media Contact: Nick Facchin +1 713-309-4791 Table 2 - Reconciliations of Net Income to Net Income Excluding Identified Items and to EBITDA Including and Excluding Identified Items Three Months Ended Six Months Ended Millions of U.S. dollars June 30,2025 March 31,2025 June 30,2024 June 30,2025 June 30,2024 Net income $ 115 $ 177 $ 924 $ 292 $ 1,397 Identified items less: Gain on sale of business, pre-tax(a) — — (293 ) — (293 ) add: Asset write-downs, pre-tax(b) 32 — — 32 — add: Cash Improvement Plan costs, pre-tax(c) 20 — — 20 — add: Dutch PO joint venture exit costs, pre-tax(d) — 117 — 117 — add: European transaction costs, pre-tax(e) 10 — — 10 — less: Loss (income) from discontinued operations, pre-tax(f) 47 (196 ) 26 (149 ) (26 ) add: (Benefit from) provision for income taxes related to identified items (22 ) 12 67 (10 ) 79 Net income excluding identified items $ 202 $ 110 $ 724 $ 312 $ 1,157 Net income $ 115 $ 177 $ 924 $ 292 $ 1,397 Provision for income taxes 62 78 249 140 371 Depreciation and amortization 332 323 387 655 752 Interest expense, net 97 77 83 174 169 EBITDA 606 655 1,643 1,261 2,689 Identified items less: Gain on sale of business(a) — — (293 ) — (293 ) add: Asset write-down(b) 32 — — 32 — add: Cash Improvement Plan costs(c) 20 — — 20 — add: Dutch PO joint venture exit costs(d) — 117 . — 117 — add: European transaction costs(e) 10 — — 10 — less: EBITDA from discontinued operations(f) 47 (196 ) (20 ) (149 ) (103 ) EBITDA excluding identified items $ 715 $ 576 $ 1,330 $ 1,291 $ 2,293 (a) In 2024, we sold our U.S. Gulf Coast-based Ethylene Oxide and Derivatives ("EO&D") business, resulting in the recognition of a gain in our Intermediates & Derivatives ("I&D") segment.(b) Includes asset write-downs in excess of $10 million in aggregate for the period. The second quarter of 2025 includes a non-cash impairment of property, plant and equipment of $32 million related to the European assets classified as held for sale within our Olefins & Polyolefins – Europe, Asia & International ("O&P-EAI") segment.(c) In April 2025, the Company announced the Cash Improvement Plan, focused on strengthening financial performance, which resulted in employee-related charges across all segments.(d) In March 2025, we announced plans to permanently close our Dutch PO joint venture asset within the I&D segment, resulting in the recognition of shutdown-related costs.(e) In June 2025, we announced plans to sell select olefins & polyolefins assets and the associated business in Europe, resulting in selling expenses, separation costs and employee-related charges in our O&P-EAI segment.(f) In February 2025, we ceased business operations at our Houston refinery. Accordingly, our refining business, previously disclosed as the Refining segment, is reported as a discontinued operation. The related operating results of our refining business are reported as discontinued operations for all periods presented. Table 3 - Reconciliation of Diluted EPS to Diluted EPS Excluding Identified Items Three Months Ended Six Months Ended June 30,2025 March 31,2025 June 30,2024 June 30,2025 June 30,2024 Diluted earnings per share $ 0.34 $ 0.54 $ 2.82 $ 0.88 $ 4.25 Identified items less: Gain on sale of business — — (0.68 ) — (0.68 ) add: Asset write-downs(a) 0.07 — — 0.07 — add: Cash Improvement Plan costs 0.05 — — 0.05 — add: Dutch PO joint venture exit costs — 0.27 — 0.27 — add: European transaction costs 0.03 — — 0.03 — less: Loss (income) from discontinued operations 0.13 (0.48 ) 0.06 (0.35 ) (0.05 ) Diluted earnings per share excluding identified items $ 0.62 $ 0.33 $ 2.20 $ 0.95 $ 3.52 (a) Includes asset write-downs in excess of $10 million in aggregate for the period. Table 4 - Calculation of Cash and Liquid Investments and Total Liquidity Millions of U.S. dollars June 30, 2025 Cash and cash equivalents and restricted cash $ 1,704 Short-term investments — Cash and liquid investments 1,704 add: Availability under Senior Revolving Credit Facility 3,750 Availability under U.S. Receivables Facility 900 Total liquidity $ 6,354 Table 5 - Calculation of Dividends and Share Repurchases Three Months Ended Millions of U.S. dollars June 30, 2025 Dividends paid - common stock $ 445 Repurchase of Company ordinary shares 91 Dividends and share repurchases $ 536 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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ExxonMobil Announces Second-Quarter 2025 Results
Delivered industry-leading results, earnings of $7.1 billion and cash flow from operations of $11.5 billion1 Returned industry-leading $9.2 billion to shareholders, on pace to purchase $20 billion in shares this year2 Repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May 2024 Commenced start-up of Singapore Resid Upgrade, Fawley Hydrofiner and Strathcona Renewable Diesel projects SPRING, Texas, August 01, 2025--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM): Results Summary 2Q25 1Q25 Changevs1Q25 Dollars in millions (except per share data) YTD 2025 YTD 2024 Changevs YTD2024 7,082 7,713 -631 Earnings (U.S. GAAP) 14,795 17,460 -2,665 7,082 7,713 -631 Earnings Excluding Identified Items (non-GAAP) 14,795 17,460 -2,665 1.64 1.76 -0.12 Earnings Per Common Share ³ 3.40 4.20 -0.80 1.64 1.76 -0.12 Earnings Excluding Identified Items Per Common Share (non-GAAP) ³ 3.40 4.20 -0.80 Exxon Mobil Corporation today announced second-quarter 2025 earnings of $7.1 billion, or $1.64 per share assuming dilution. Cash flow from operating activities was $11.5 billion and free cash flow was 5.4 billion. Shareholder distributions totaled $9.2 billion, including $4.3 billion of dividends and $5.0 billion of share repurchases, consistent with the company's announced plans. "The second quarter, once again, proved the value of our strategy and competitive advantages, which continue to deliver for our shareholders no matter the market conditions or geopolitical developments," said Darren Woods, ExxonMobil chairman and chief executive officer. "We achieved our highest second-quarter Upstream production since the merger of Exxon and Mobil more than 25 years ago. It was also our best quarter yet for high-value product sales volumes in Product Solutions. Since 2019, we've delivered $13.5 billion in structural cost savings, more than all other IOCs combined.4 And our 2030 structural cost savings plan exceeds their cumulative cost savings targets.4 We began start-up operations for the first six of ten key projects this year and remain on track to start up the remaining four. Collectively, these projects are expected to improve our earnings power by more than $3 billion in 2026 at constant prices and margins.5 These results demonstrate how our competitive advantages are delivering industry-leading value today and providing a long runway of profitable growth far into the future." 1 Earnings and cash flow from operations, adjusted for consistency on items reported under U.S. GAAP for the IOCs with actual reported results on or before July 31, 2025, or using reported FactSet consensus as of July 31, 2025. IOCs includes each of BP, Chevron, Shell and TotalEnergies. 2 Shareholder distributions for the IOCs are actuals for companies that reported results on or before July 31, 2025, or estimated using FactSet consensus as of July 31, 2025. IOCs includes each of BP, Chevron, Shell and TotalEnergies. 3 Assuming dilution. 4 IOC structural cost savings reflect reported cost savings as of July 31, 2025. Sourced from IOC disclosures. 5 Earnings contributions are adjusted to 2024 $65/bbl real Brent (assumes annual inflation of 2.5%) and 10-year average Energy, Chemical, and Specialty Product margins, which refer to the average of annual margins from 2010-2019. Financial Highlights Year-to-date earnings were $14.8 billion versus $17.5 billion in the first half of 2024. Advantaged volume growth in the Permian and Guyana, additional structural cost savings and favorable timing effects partially offset lower earnings due to weaker crude prices, a decline in industry refining margins, higher depreciation costs and lower base volumes from strategic divestments. The company achieved year-to-date Structural Cost Savings of $1.4 billion. Since 2019, the company has delivered $13.5 billion of cumulative Structural Cost Savings, more than all cost savings reported by other IOCs combined. The company expects to deliver $18 billion of cumulative savings through the end of 2030 versus 2019, also exceeding the total targets disclosed by other IOCs. Generated strong cash flow from operations of $24.5 billion and free cash flow of $14.2 billion in the first half of the year. Industry-leading year-to-date shareholder distributions of $18.4 billion included $8.6 billion of dividends and $9.8 billion of share repurchases, consistent with the company's plan to deliver $20 billion of share repurchases this year. The company has repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May of 2024. The Corporation declared a third-quarter dividend of $0.99 per share, payable on September 10, 2025, to shareholders of record of Common Stock at the close of business on August 15, 2025. The company's industry-leading debt-to-capital and net-debt-to-capital ratio was 13% and 8%, respectively, reflecting debt repayment of $4.7 billion year-to-date. The period-end cash balance was $15.7 billion.1 Cash capital expenditures were $6.3 billion in the second quarter, bringing year-to-date spending to $12.3 billion. This includes $12.2 billion of additions to property, plant and equipment during the first half of 2025. The company expects full-year cash capital expenditures of $27 billion to $29 billion, consistent with previous guidance. 1 Net debt is total debt of $39.0 billion less $14.4 billion of cash and cash equivalents excluding restricted cash. Net-debt to-capital ratio is net debt divided by the sum of net debt and total equity of $270.0 billion. Period-end cash balance includes cash and cash equivalents including restricted cash. ExxonMobil has lower net debt-to-capital and debt-to-capital than all IOCs. Net debt-to-capital and debt-to-capital are sourced from Bloomberg. Figures are actuals for IOCs that reported results on or before July 31, 2025, or estimated using Bloomberg consensus as of July 31, 2025. EARNINGS AND VOLUME SUMMARY BY SEGMENT Upstream 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 Earnings/(Loss) (U.S. GAAP) 1,212 1,870 United States 3,082 3,484 4,190 4,886 Non-U.S. 9,076 9,250 5,402 6,756 Worldwide 12,158 12,734 Earnings/(Loss) Excluding Identified Items (non-GAAP) 1,212 1,870 United States 3,082 3,484 4,190 4,886 Non-U.S. 9,076 9,250 5,402 6,756 Worldwide 12,158 12,734 4,630 4,551 Production (koebd) 4,591 4,071 Upstream year-to-date earnings were $12.2 billion, a decrease of $576 million compared to the first half of 2024. Advantaged assets volume growth in the Permian and Guyana, structural cost savings, favorable foreign exchange, tax impacts and timing effects contributed to earnings. These gains were more than offset by weaker crude realizations and higher depreciation. Year-to-date net production increased 13%, or 520,000 oil-equivalent barrels per day, to 4.6 million oil-equivalent barrels per day driven by the acquisition of Pioneer, partly offset by non-core asset divestments. Second-quarter earnings were $5.4 billion, a decrease of $1.4 billion from the first quarter. Lower crude and natural gas realizations were partially offset by volume growth from advantaged assets, which included record Permian production of 1.6 million oil-equivalent barrels per day, along with structural cost savings. Second-quarter net production was 4.6 million oil-equivalent barrels per day, the highest second-quarter output since the Exxon and Mobil merger more than 25 years ago, and an increase of 79,000 oil-equivalent barrels per day compared to the first quarter. Energy Products 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 Earnings/(Loss) (U.S. GAAP) 825 297 United States 1,122 1,286 541 530 Non-U.S. 1,071 1,036 1,366 827 Worldwide 2,193 2,322 Earnings/(Loss) Excluding Identified Items (non-GAAP) 825 297 United States 1,122 1,286 541 530 Non-U.S. 1,071 1,036 1,366 827 Worldwide 2,193 2,322 5,588 5,283 Energy Products Sales (kbd) 5,436 5,276 Energy Products year-to-date 2025 earnings were $2.2 billion, a decrease of $129 million versus the first half of 2024. Weaker industry refining margins were mostly offset by structural cost savings, lower scheduled maintenance, favorable timing effects and the absence of unfavorable inventory impacts. Second-quarter earnings were $1.4 billion, an increase of $539 million from the first quarter driven by stronger industry refining margins from higher seasonal demand and higher volumes from lower scheduled maintenance, partially offset by unfavorable foreign exchange. The company recently commenced start-up operations at its Fawley Hydrofiner in the United Kingdom. Once fully operational, the facility will upgrade high-sulfur, lower-value distillates to produce an additional 37,000 barrels per day of ultra-low sulfur diesel, growing the company's portfolio of higher value products. The company's Strathcona Renewable Diesel project, Canada's largest renewable diesel facility, has commenced operations, contributing to the growth of higher value products by adding 20,000 barrels per day of capacity.1 Chemical Products 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 Earnings/(Loss) (U.S. GAAP) 255 255 United States 510 1,030 38 18 Non-U.S. 56 534 293 273 Worldwide 566 1,564 Earnings/(Loss) Excluding Identified Items (non-GAAP) 255 255 United States 510 1,030 38 18 Non-U.S. 56 534 293 273 Worldwide 566 1,564 5,264 4,776 Chemical Products Sales (kt) 10,040 9,927 Chemical Products year-to-date earnings were $566 million, a decrease of $998 million versus the first half of 2024. Results were affected by weaker margins and higher project-driven expenses related to the China Chemical Complex, partially offset by structural cost savings. Second-quarter earnings of $293 million were comparable to the first quarter. Higher sales volumes driven by the China Chemical Complex ramp-up offset weaker margins from lower North America feed advantage. 1 Optimizing current production based on product demand, compliance requirements and supplier capabilities for both the renewable feedstock and also the required hydrogen for processing. Specialty Products 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 Earnings/(Loss) (U.S. GAAP) 291 322 United States 613 851 489 333 Non-U.S. 822 661 780 655 Worldwide 1,435 1,512 Earnings/(Loss) Excluding Identified Items (non-GAAP) 291 322 United States 613 851 489 333 Non-U.S. 822 661 780 655 Worldwide 1,435 1,512 2,004 1,936 Specialty Products Sales (kt) 3,940 3,893 Specialty Products continued to deliver strong earnings from its portfolio of high-value products. Year-to-date earnings were $1.4 billion, a decrease of $77 million compared to the first half of the prior year. Higher expenses, including spending on ProxximaTM systems and carbon materials market development, and unfavorable foreign exchange were partially offset by stronger margins and structural cost savings. Earnings increased $125 million versus the first quarter. Stronger basestock margins and record high-value product sales volumes were partially offset by higher new market development costs. The company began start-up of the Singapore Resid Upgrade project during the quarter. Once fully operational, the facility will convert 80,000 barrels per day of lower value fuel oil to higher value products, including 20,000 barrels per day of performance lubricant basestocks for Specialty Products and 50,000 barrels per day of distillates for Energy Products. Corporate and Financing 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 (759) (798) Earnings/(Loss) (U.S. GAAP) (1,557) (672) (759) (798) Earnings/(Loss) Excluding Identified Items (non-GAAP) (1,557) (672) Corporate and Financing year-to-date net charges of $1.6 billion increased $885 million compared to the first half of 2024 mainly due to lower interest income, unfavorable foreign exchange and increased pension-related expenses. Second-quarter net charges of $759 million decreased $39 million versus the first quarter. CASH FLOW FROM OPERATIONS AND ASSET SALES EXCLUDING WORKING CAPITAL 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 7,354 8,033 Net income/(loss) including noncontrolling interests 15,387 18,137 6,101 5,702 Depreciation and depletion (includes impairments) 11,803 10,599 (3,970) (878) Changes in operational working capital, excluding cash and debt (4,848) (2,608) 2,065 96 Other 2,161 (904) 11,550 12,953 Cash Flow from Operating Activities (U.S. GAAP) 24,503 25,224 176 1,823 Proceeds from asset sales and returns of investments 1,999 1,629 11,726 14,776 Cash Flow from Operations and Asset Sales (non-GAAP) 26,502 26,853 3,970 878 Less: Changes in operational working capital, excluding cash and debt 4,848 2,608 15,696 15,654 Cash Flow from Operations and Asset Sales excluding Working Capital (non-GAAP) 31,350 29,461 (176) (1,823) Less: Proceeds from asset sales and returns of investments (1,999) (1,629) 15,520 13,831 Cash Flow from Operations excluding Working Capital (non-GAAP) 29,351 27,832 FREE CASH FLOW 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 11,550 12,953 Cash Flow from Operating Activities (U.S. GAAP) 24,503 25,224 (6,283) (5,898) Additions to property, plant and equipment (12,181) (11,309) (319) (153) Additional investments and advances (472) (744) 246 93 Other investing activities including collection of advances 339 224 176 1,823 Proceeds from asset sales and returns of investments 1,999 1,629 23 22 Inflows from noncontrolling interest for major projects 45 12 5,393 8,840 Free Cash Flow (non-GAAP) 14,233 15,036 CASH CAPITAL EXPENDITURES 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 6,283 5,898 Additions to property, plant and equipment 12,181 11,309 319 153 Additional investments and advances 472 744 (246) (93) Other investing activities including collection of advances (339) (224) (23) (22) Inflows from noncontrolling interests for major projects (45) (12) 6,333 5,936 Total Cash Capital Expenditures (non-GAAP) 12,269 11,817 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 Upstream 3,407 2,983 United States 6,390 5,251 2,262 2,010 Non-U.S. 4,272 4,205 5,669 4,993 Total 10,662 9,456 Energy Products 154 127 United States 281 297 8 251 Non-U.S. 259 687 162 378 Total 540 984 Chemical Products 171 154 United States 325 228 108 137 Non-U.S. 245 579 279 291 Total 570 807 Specialty Products 43 52 United States 95 24 54 58 Non-U.S. 112 139 97 110 Total 207 163 Other 126 164 Other 290 407 6,333 5,936 Worldwide 12,269 11,817 CALCULATION OF STRUCTURAL COST SAVINGS Dollars in billions (unless otherwise noted) Twelve Months EndedDecember 31, Six Months EndedJune 30, 2019 2024 2024 2025 Components of Operating Costs From ExxonMobil's Consolidated Statement of Income (U.S. GAAP) Production and manufacturing expenses 36.8 39.6 18.9 20.2 Selling, general and administrative expenses 11.4 10.0 5.1 5.1 Depreciation and depletion (includes impairments) 19.0 23.4 10.6 11.8 Exploration expenses, including dry holes 1.3 0.8 0.3 0.3 Non-service pension and postretirement benefit expense 1.2 0.1 0.1 0.2 Subtotal 69.7 74.0 34.9 37.6 ExxonMobil's share of equity company expenses (non-GAAP) 9.1 9.6 4.7 5.2 Total Adjusted Operating Costs (non-GAAP) 78.8 83.6 39.6 42.8 Total Adjusted Operating Costs (non-GAAP) 78.8 83.6 39.6 42.8 Less: Depreciation and depletion (includes impairments) 19.0 23.4 10.6 11.8 Non-service pension and postretirement benefit expense 1.2 0.1 0.1 0.2 Other adjustments (includes equity company depreciation and depletion) 3.6 3.7 1.7 2.4 Total Cash Operating Expenses (Cash Opex) (non-GAAP) 55.0 56.4 27.2 28.4 Energy and production taxes (non-GAAP) 11.0 13.9 6.8 7.6 Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP) 44.0 42.5 20.4 20.8 Changevs2019 Changevs2024 EstimatedCumulativevs2019 Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes (non-GAAP) -1.5 +0.4 Market +4.0 +0.3 Activity / Other +6.6 +1.5 Structural Cost Savings -12.1 -1.4 -13.5 This press release references Structural Cost Savings, which describes decreases in cash opex excluding energy and production taxes as a result of operational efficiencies, workforce reductions, divestment-related reductions, and other cost-saving measures, that are expected to be sustainable compared to 2019 levels. Relative to 2019, estimated cumulative Structural Cost Savings totaled $13.5 billion, which included an additional $1.4 billion in the first six months of 2025. The total change between periods in expenses above will reflect both Structural Cost Savings and other changes in spend, including market drivers, such as inflation and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations, mergers and acquisitions, new business venture development, and early-stage projects. Structural Cost Savings from new operations, mergers and acquisitions, and new business venture developments are included in the cumulative Structural Cost Savings. Estimates of cumulative annual Structural Cost Savings may be revised depending on whether cost reductions realized in prior periods are determined to be sustainable compared to 2019 levels. Structural Cost Savings are stewarded internally to support management's oversight of spending over time. This measure is useful for investors to understand the Corporation's efforts to optimize spending through disciplined expense management. ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on August 1, 2025. To listen to the event or access an archived replay, please visit Selected Earnings Driver Definitions Advantaged volume growth. Represents earnings impact from change in volume/mix from advantaged assets, advantaged projects, and high-value products. See frequently used terms on page 11 for definitions of advantaged assets, advantaged projects, and high-value products. Base volume. Represents and includes all volume/mix drivers not included in advantaged volume growth driver defined above. Structural cost savings. Represents after-tax earnings effect of Structural Cost Savings as defined on page 8, including cash operating expenses related to divestments. Expenses. Represents and includes all expenses otherwise not included in other earnings drivers. Timing effects. Represents timing effects that are primarily related to unsettled derivatives (mark-to-market) and other earnings impacts driven by timing differences between the settlement of derivatives and their offsetting physical commodity realizations (due to LIFO inventory accounting). Cautionary Statement Statements related to future events; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions, future earnings power, potential addressable markets, or plans; and other statements of future events or conditions in this release, are forward-looking statements. Similarly, discussion of future carbon capture, transportation and storage, as well as lower-emission fuels, hydrogen, ammonia, lithium, direct air capture, ProxximaTM systems, carbon materials, low-carbon data centers, and other low carbon and new business plans to reduce emissions of ExxonMobil, its affiliates, and third parties, are dependent on future market factors, such as continued technological progress, stable policy support and timely rule-making and permitting, and represent forward-looking statements. Actual future results, including financial and operating performance; potential earnings, cash flow, or rate of return; total capital expenditures and mix, including allocations of capital to low carbon and other new investments; realization and maintenance of structural cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, to reach Scope 1 and 2 net zero in heritage Permian Basin unconventional operated assets by 2030 and in Pioneer Permian assets by 2035, to eliminate routine flaring in-line with World Bank Zero Routine Flaring, to reach near-zero methane emissions from its operated assets and other methane initiatives, and to meet ExxonMobil's emission reduction goals and plans, divestment and start-up plans, and associated project plans as well as technology advances, including the timing and outcome of projects to capture and store CO2, produce hydrogen and ammonia, produce lower-emission fuels, produce lithium, produce ProxximaTM systems, create new advanced carbon materials, and use plastic waste as feedstock for advanced recycling; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; resource recoveries and production rates; and planned Pioneer and Denbury integrated benefits, could differ materially due to a number of factors. These include global or regional changes or imbalances in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices, differentials, and volume/mix for our products; changes in any part of the world in laws, taxes, or regulations including environmental and tax regulations, trade sanctions, and timely granting of governmental permits and certifications; developments or changes in government policies supporting lower carbon and new market investment opportunities or policies limiting the attractiveness of future investment such as the additional European taxes on the energy sector and unequal support for different methods of emissions reduction; variable impacts of trading activities on our margins and results each quarter; changes in interest and exchange rates; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of public health crises, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources, the success of new unconventional technologies, and the ability of new technologies to improve the recovery relative to competitors; the level and outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects and commencement of start-up operations, including reliance on third-party suppliers and service providers; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; government regulation of our growth opportunities; war, civil unrest, attacks against the company or industry and other political or security disturbances; expropriations, seizure, or capacity, insurance, export, import or shipping limitations by foreign governments or laws; changes in market, national or regional tariffs or realignment of global trade and supply chain networks; opportunities for potential acquisitions, investments or divestments and satisfaction of applicable conditions to closing, including timely regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies without impairing our competitive positioning; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Risk Factors of ExxonMobil's 2024 Form 10-K. Actions needed to advance ExxonMobil's 2030 greenhouse gas emission-reductions plans are incorporated into its medium-term business plans, which are updated annually. The reference case for planning beyond 2030 is based on ExxonMobil's Global Outlook (Outlook) research and publication. The Outlook is reflective of the existing global policy environment and an assumption of increasing policy stringency and technology improvement to 2050. Current trends for policy stringency and deployment of lower-emission solutions are not yet on a pathway to achieve net-zero by 2050. As such, the Outlook does not project the degree of required future policy and technology advancement and deployment for the world, or ExxonMobil, to meet net zero by 2050. As future policies and technology advancements emerge, they will be incorporated into the Outlook, and ExxonMobil's business plans will be updated accordingly. References to projects or opportunities may not reflect investment decisions made by ExxonMobil or its affiliates. Individual projects or opportunities may advance based on a number of factors, including availability of stable and supportive policy, permitting, technological advancement for cost-effective abatement, insights from the company planning process, and alignment with our partners and other stakeholders. Capital investment guidance in lower-emission investments is based on our corporate plan; however, actual investment levels will be subject to the availability of the opportunity set and public policy support, and focused on returns. Frequently Used Terms and Non-GAAP Measures This press release includes cash flow from operations and asset sales (non-GAAP). Because of the regular nature of our asset management and divestment program, the company believes it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities for the 2024 and 2025 periods is shown on page 6. This press release also includes cash flow from operations excluding working capital (non-GAAP), and cash flow from operations and asset sales excluding working capital (non-GAAP). The company believes it is useful for investors to consider these numbers in comparing the underlying performance of the company's business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities for the 2024 and 2025 periods is shown on page 6. This press release also includes Earnings/(Loss) Excluding Identified Items (non-GAAP), which are earnings/(loss) excluding individually significant non-operational events with, typically, an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings/(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several periods or several segments. Earnings/(loss) excluding Identified Items does include non-operational earnings events or impacts that are generally below the $250 million threshold utilized for identified items. When the effect of these events is significant in aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. Earnings excluding Identified Items is not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. A reconciliation to each of corporate earnings and segment earnings are shown for 2025 and 2024 periods in Attachments II-a and II-b. Earnings per share amounts are shown on page 1 and in Attachment II-a, including a reconciliation to earnings/(loss) per common share – assuming dilution (U.S. GAAP). This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the Corporation's products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities ("sales-based taxes"). It combines "Income taxes" and "Total other taxes and duties" with sales-based taxes, which are reported net in the income statement. The company believes it is useful for the Corporation and its investors to understand the total tax burden imposed on the Corporation's products and earnings. A reconciliation to total taxes is shown in Attachment I-a. This press release also references free cash flow (non-GAAP). Free cash flow is the sum of net cash provided by operating activities, net cash flow used in investing activities excluding cash acquired from mergers and acquisitions, and inflows from noncontrolling interests for major projects from financing activities. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. Free cash flow is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities. A reconciliation to net cash provided by operating activities for the 2024 and 2025 periods is shown on page 6. This press release also references total cash capital expenditures (non-GAAP). Cash capital expenditures are the sum of additions to property, plant and equipment; additional investments and advances; and other investing activities including collection of advances; reduced by inflows from noncontrolling interests for major projects, each from the Consolidated Statement of Cash Flows. The company believes it is a useful measure for investors to understand the cash impact of investments in the business, which is in line with standard industry practice. A breakdown of cash capex is shown on page 7. References to resources or resource base may include quantities of oil and natural gas classified as proved reserves, as well as quantities that are not yet classified as proved reserves, but that are expected to be ultimately recoverable. The term "resource base" or similar terms are not intended to correspond to SEC definitions such as "probable" or "possible" reserves. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K filed the same day as this news release. The term "project" as used in this news release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Projects or plans may not reflect investment decisions made by the company. Individual opportunities may advance based on a number of factors, including availability of supportive policy, technology for cost-effective abatement, and alignment with our partners and other stakeholders. The company may refer to these opportunities as projects in external disclosures at various stages throughout their progression. Advantaged assets (Advantaged growth projects) when used in reference to the Upstream business, includes Permian, Guyana, and LNG. Advantaged projects refers to capital projects and programs of work that contribute to Energy, Chemical, and/or Specialty Products segments that drive integration of segments/businesses, increase yield of higher value products, or deliver higher than average returns. Base portfolio (Base) in our Upstream segment, refers to assets (or volumes) other than advantaged assets (or volumes from advantaged assets). In our Energy Products segment, refers to assets (or volumes) other than advantaged projects (or volumes from advantaged projects). In our Chemical Products and Specialty Products segments refers to volumes other than high-value products volumes. Compound annual growth rate (CAGR) represents the consistent rate at which an investment or business result would have grown had the investment or business result compounded at the same rate each year. Debt-to-capital ratio is total debt divided by the sum of total debt and equity. Total debt is the sum of notes and loans payable and long-term debt, as reported in the Consolidated Balance Sheet. Government mandates (curtailments) are changes to ExxonMobil's sustainable production levels as a result of production limits or sanctions imposed by governments. High-value products includes performance products and lower-emission fuels. Lower-emission fuels are fuels with lower life cycle emissions than conventional transportation fuels for gasoline, diesel and jet transport. Net-debt-to-capital ratio is net debt divided by the sum of net debt and total equity, where net debt is total debt net of cash and cash equivalents, excluding restricted cash. Total debt is the sum of notes and loans payable and long-term debt, as reported in the consolidated balance sheet. Performance products (performance chemicals, performance lubricants) refers to products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users. Total shareholder return (TSR) is defined by FactSet and measures the change in value of an investment in common stock over a specified period of time, assuming dividend reinvestment. FactSet assumes dividends are reinvested in stock at market prices on the ex-dividend date. Unless stated otherwise, total shareholder return is quoted on an annualized basis. This press release also references Structural Cost Savings, for more details see page 8. Unless otherwise indicated, year-to-date ("YTD") means as of the last business day of the most recent fiscal quarter. Reference to Earnings References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Energy Products, Chemical Products, Specialty Products and Corporate and Financing earnings, and earnings per share are ExxonMobil's share after excluding amounts attributable to noncontrolling interests. Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs. Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated. ATTACHMENT I-a CONDENSED CONSOLIDATED STATEMENT OF INCOME (Preliminary) Dollars in millions (unless otherwise noted) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues and other income Sales and other operating revenue 79,477 89,986 160,535 170,397 Income from equity affiliates 1,462 1,744 2,831 3,586 Other income 567 1,330 1,270 2,160 Total revenues and other income 81,506 93,060 164,636 176,143 Costs and other deductions Crude oil and product purchases 45,327 54,199 92,115 101,800 Production and manufacturing expenses 10,102 9,804 20,185 18,895 Selling, general and administrative expenses 2,528 2,568 5,068 5,063 Depreciation and depletion (includes impairments) 6,101 5,787 11,803 10,599 Exploration expenses, including dry holes 251 153 315 301 Non-service pension and postretirement benefit expense 90 34 203 57 Interest expense 145 271 350 492 Other taxes and duties 6,257 6,579 12,292 12,902 Total costs and other deductions 70,801 79,395 142,331 150,109 Income/(Loss) before income taxes 10,705 13,665 22,305 26,034 Income tax expense/(benefit) 3,351 4,094 6,918 7,897 Net income/(loss) including noncontrolling interests 7,354 9,571 15,387 18,137 Net income/(loss) attributable to noncontrolling interests 272 331 592 677 Net income/(loss) attributable to ExxonMobil 7,082 9,240 14,795 17,460 OTHER FINANCIAL DATA Dollars in millions (unless otherwise noted) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Earnings per common share (U.S. dollars) 1.64 2.14 3.40 4.20 Earnings per common share - assuming dilution (U.S. dollars) 1.64 2.14 3.40 4.20 Dividends on common stock Total 4,288 4,285 8,623 8,093 Per common share (U.S. dollars) 0.99 0.95 1.98 1.90 Millions of common shares outstanding Average - assuming dilution 4,331 4,317 4,351 4,158 Taxes Income taxes 3,351 4,094 6,918 7,897 Total other taxes and duties 7,204 7,531 14,270 14,691 Total taxes 10,555 11,625 21,188 22,588 Sales-based taxes 5,289 6,339 10,759 11,888 Total taxes including sales-based taxes 15,844 17,964 31,947 34,476 ExxonMobil share of income taxes of equity companies (non-GAAP) 486 907 1,143 1,905 ATTACHMENT I-b CONDENSED CONSOLIDATED BALANCE SHEET (Preliminary) Dollars in millions (unless otherwise noted) June 30, 2025 December 31, 2024 ASSETS Current assets Cash and cash equivalents 14,352 23,029 Cash and cash equivalents – restricted 1,359 158 Notes and accounts receivable – net 41,792 43,681 Inventories Crude oil, products and merchandise 21,364 19,444 Materials and supplies 4,007 4,080 Other current assets 2,234 1,598 Total current assets 85,108 91,990 Investments, advances and long-term receivables 46,092 47,200 Property, plant and equipment – net 295,356 294,318 Other assets, including intangibles – net 21,041 19,967 Total Assets 447,597 453,475 LIABILITIES Current liabilities Notes and loans payable 5,419 4,955 Accounts payable and accrued liabilities 59,725 61,297 Income taxes payable 3,017 4,055 Total current liabilities 68,161 70,307 Long-term debt 33,570 36,755 Postretirement benefits reserves 10,352 9,700 Deferred income tax liabilities 39,368 39,042 Long-term obligations to equity companies 1,113 1,346 Other long-term obligations 25,071 25,719 Total Liabilities 177,635 182,869 EQUITY Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) 46,629 46,238 Earnings reinvested 477,061 470,903 Accumulated other comprehensive income (12,436) (14,619) Common stock held in treasury (3,756 million shares at June 30, 2025, and 3,666 million shares at December 31, 2024) (248,661) (238,817) ExxonMobil share of equity 262,593 263,705 Noncontrolling interests 7,369 6,901 Total Equity 269,962 270,606 Total Liabilities and Equity 447,597 453,475 ATTACHMENT I-c CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Preliminary) Dollars in millions (unless otherwise noted) Six Months Ended June 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income/(loss) including noncontrolling interests 15,387 18,137 Depreciation and depletion (includes impairments) 11,803 10,599 Changes in operational working capital, excluding cash and debt (4,848) (2,608) All other items – net 2,161 (904) Net cash provided by operating activities 24,503 25,224 CASH FLOWS FROM INVESTING ACTIVITIES Additions to property, plant and equipment (12,181) (11,309) Proceeds from asset sales and returns of investments 1,999 1,629 Additional investments and advances (472) (744) Other investing activities including collection of advances 339 224 Cash acquired from mergers and acquisitions — 754 Net cash used in investing activities (10,315) (9,446) CASH FLOWS FROM FINANCING ACTIVITIES Additions to long-term debt 883 217 Reductions in long-term debt (13) (1,142) Additions to short-term debt 172 — Reductions in short-term debt (4,676) (2,771) Additions/(Reductions) in debt with three months or less maturity 257 (6) Contingent consideration payments (79) (27) Cash dividends to ExxonMobil shareholders (8,623) (8,093) Cash dividends to noncontrolling interests (452) (397) Changes in noncontrolling interests (10) 4 Inflows from noncontrolling interests for major projects 45 12 Common stock acquired (9,768) (8,337) Net cash provided by (used in) financing activities (22,264) (20,540) Effects of exchange rate changes on cash 600 (318) Increase/(Decrease) in cash and cash equivalents (including restricted) (7,476) (5,080) Cash and cash equivalents at beginning of period (including restricted) 23,187 31,568 Cash and cash equivalents at end of period (including restricted) 15,711 26,488 ATTACHMENT II-a KEY FIGURES: IDENTIFIED ITEMS 2Q25 1Q25 Dollars in millions (unless otherwise noted) YTD 2025 YTD 2024 7,082 7,713 Earnings/(Loss) (U.S. GAAP) 14,795 17,460 — — Total Identified Items — — 7,082 7,713 Earnings/(Loss) Excluding Identified Items (non-GAAP) 14,795 17,460 2Q25 1Q25 Dollars per common share YTD 2025 YTD 2024 1.64 1.76 Earnings/(Loss) Per Common Share (U.S. GAAP) ¹ 3.40 4.20 — — Total Identified Items Per Common Share ¹ — — 1.64 1.76 Earnings/(Loss) Excluding Identified Items Per Common Share (non-GAAP) ¹ 3.40 4.20 ¹ Assuming dilution. ATTACHMENT II-b KEY FIGURES: IDENTIFIED ITEMS BY SEGMENT Second Quarter 2025 Upstream Energy Products Chemical Products Specialty Products Corporate & Financing Total Dollars in millions (unless otherwise noted) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Earnings/(Loss) (U.S. GAAP) 1,212 4,190 825 541 255 38 291 489 (759) 7,082 Total Identified Items — — — — — — — — — — Earnings/(Loss) Excl. Identified Items (non-GAAP) 1,212 4,190 825 541 255 38 291 489 (759) 7,082 First Quarter 2025 Upstream Energy Products Chemical Products Specialty Products Corporate & Financing Total Dollars in millions (unless otherwise noted) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Earnings/(Loss) (U.S. GAAP) 1,870 4,886 297 530 255 18 322 333 (798) 7,713 Total Identified Items — — — — — — — — — — Earnings/(Loss) Excl. Identified Items (non-GAAP) 1,870 4,886 297 530 255 18 322 333 (798) 7,713 YTD 2025 Upstream Energy Products Chemical Products Specialty Products Corporate & Financing Total Dollars in millions (unless otherwise noted) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Earnings/(Loss) (U.S. GAAP) 3,082 9,076 1,122 1,071 510 56 613 822 (1,557) 14,795 Total Identified Items — — — — — — — — — — Earnings/(Loss) Excl. Identified Items (non-GAAP) 3,082 9,076 1,122 1,071 510 56 613 822 (1,557) 14,795 YTD 2024 Upstream Energy Products Chemical Products Specialty Products Corporate & Financing Total Dollars in millions (unless otherwise noted) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Earnings/(Loss) (U.S. GAAP) 3,484 9,250 1,286 1,036 1,030 534 851 661 (672) 17,460 Total Identified Items — — — — — — — — — — Earnings/(Loss) Excl. Identified Items (non-GAAP) 3,484 9,250 1,286 1,036 1,030 534 851 661 (672) 17,460 ATTACHMENT III KEY FIGURES: UPSTREAM VOLUMES 2Q25 1Q25 Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd) YTD 2025 YTD 2024 1,494 1,418 United States 1,456 1,038 797 760 Canada/Other Americas 779 767 3 4 Europe 4 4 139 137 Africa 138 220 801 796 Asia 799 712 25 24 Australia/Oceania 25 30 3,259 3,139 Worldwide 3,201 2,771 2Q25 1Q25 Net natural gas production available for sale, million cubic feet per day (mcfd) YTD 2025 YTD 2024 3,313 3,266 United States 3,290 2,570 24 42 Canada/Other Americas 33 104 312 331 Europe 321 354 106 118 Africa 112 158 3,206 3,457 Asia 3,331 3,380 1,258 1,256 Australia/Oceania 1,257 1,236 8,219 8,470 Worldwide 8,344 7,802 4,630 4,551 Oil-equivalent production (koebd) ¹ 4,591 4,071 1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels. ATTACHMENT IV KEY FIGURES: MANUFACTURING THROUGHPUT AND SALES 2Q25 1Q25 Refinery throughput, thousand barrels per day (kbd) YTD 2025 YTD 2024 1,969 1,789 United States 1,880 1,823 376 397 Canada 387 397 969 986 Europe 977 970 442 447 Asia Pacific 444 424 180 191 Other 185 177 3,936 3,810 Worldwide 3,873 3,791 2Q25 1Q25 Energy Products sales, thousand barrels per day (kbd) YTD 2025 YTD 2024 2,906 2,728 United States 2,817 2,607 2,682 2,555 Non-U.S. 2,619 2,669 5,588 5,283 Worldwide 5,436 5,276 2,294 2,162 Gasolines, naphthas 2,229 2,210 1,808 1,724 Heating oils, kerosene, diesel 1,766 1,730 387 366 Aviation fuels 376 342 247 158 Heavy fuels 203 197 852 873 Other energy products 862 797 5,588 5,283 Worldwide 5,436 5,276 2Q25 1Q25 Chemical Products sales, thousand metric tons (kt) YTD 2025 YTD 2024 1,771 1,706 United States 3,477 3,649 3,493 3,070 Non-U.S. 6,563 6,278 5,264 4,776 Worldwide 10,040 9,927 2Q25 1Q25 Specialty Products sales, thousand metric tons (kt) YTD 2025 YTD 2024 504 473 United States 977 1,001 1,500 1,463 Non-U.S. 2,963 2,892 2,004 1,936 Worldwide 3,940 3,893 ATTACHMENT V KEY FIGURES: EARNINGS/(LOSS) Results Summary 2Q25 1Q25 Changevs1Q25 Dollars in millions (except per share data) YTD 2025 YTD 2024 Changevs YTD2024 7,082 7,713 -631 Earnings (U.S. GAAP) 14,795 17,460 -2,665 7,082 7,713 -631 Earnings Excluding Identified Items (non-GAAP) 14,795 17,460 -2,665 1.64 1.76 -0.12 Earnings Per Common Share ¹ 3.40 4.20 -0.80 1.64 1.76 -0.12 Earnings Excluding Identified Items Per Common Share (non-GAAP) ¹ 3.40 4.20 -0.80 ¹ Assuming dilution. ATTACHMENT VI KEY FIGURES: EARNINGS/(LOSS) BY QUARTER Dollars in millions (unless otherwise noted) 2025 2024 2023 2022 2021 First Quarter 7,713 8,220 11,430 5,480 2,730 Second Quarter 7,082 9,240 7,880 17,850 4,690 Third Quarter — 8,610 9,070 19,660 6,750 Fourth Quarter — 7,610 7,630 12,750 8,870 Full Year — 33,680 36,010 55,740 23,040 Dollars per common share¹ 2025 2024 2023 2022 2021 First Quarter 1.76 2.06 2.79 1.28 0.64 Second Quarter 1.64 2.14 1.94 4.21 1.10 Third Quarter — 1.92 2.25 4.68 1.57 Fourth Quarter — 1.72 1.91 3.09 2.08 Full Year — 7.84 8.89 13.26 5.39 1 Computed using the average number of shares outstanding during each period; assuming dilution. View source version on Contacts Media Relations 737-272-1452
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Cinemark Holdings, Inc. Reports Second Quarter 2025 Earnings Results
PLANO, Texas, August 01, 2025--(BUSINESS WIRE)--Cinemark Holdings, Inc. ("Cinemark") (NYSE: CNK), one of the largest and most influential theatrical exhibition companies in the world, today reported results for the three and six months ended June 30, 2025. Cinemark issued a full detailed presentation of its second quarter results, which can be viewed on Cinemark's Investor Relations website at in the financial results section. Conference Call Cinemark will host a public audio webcast on Friday, August 1, 2025 at 8:30 a.m. Eastern Time. During the webcast, members of Cinemark's senior management team will review Cinemark's financial results for the second quarter. Interested parties can listen to the call via live access 5-10 minutes before the call: A replay of the call will be available at following the call and archived for a limited time. To automatically receive Cinemark financial news by email, please visit our Investor Relations website and subscribe to email alerts. About Cinemark Holdings, Inc. Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theater companies in the world. Cinemark's circuit, comprised of various brands that also include Century, Tinseltown and Rave, as of June 30, 2025 operated 497 theaters with 5,647 screens in 42 states domestically and 13 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to View source version on Contacts Investor Contact:Chanda Brashearscbrashears@ Media Contact:Caitlin Piperpr@
