Corporate Plan

Corporate Plan Update (December 6, 2023)

ExxonMobil gave an update to its Corporate Plan through 2027, reflecting continued execution of its strategy to provide the products society needs and to lower emissions, both its own and others’. In a presentation to investors, ExxonMobil Chairman and Chief Executive Officer Darren Woods and Chief Financial Officer Kathy Mikells highlighted that:

  • ExxonMobil’s Corporate Plan more than doubles earnings potential from 2019 to 2027 – and the company remains on track to deliver an additional ~$14 billion of earnings and cash flow growth over the next four years
  • The company expects its capital investments to generate average returns of ~30%, and over 90% of the capex to pay back in less than 10 years1
  • Lower-emission opportunities grow to more than $20 billion over the plan period
  • An additional $6 billion in structural cost savings is expected by 2027
  • Share repurchase pace increases to $20 billion per year from the Pioneer close through 2025, assuming reasonable market conditions

1. Calculations are based on ExxonMobil plan. Calculations exclude capex for Corp & Fin, Operated by Others projects, exploration, LTO/maintenance/sustaining programs, and incubating projects and spend to reduce own emissions not supported by policy.