IRVING (dpa-AFX) - ExxonMobil (XOM) updated its Corporate Plan through 2030. The company raised its outlook to $25 billion in earnings growth and $35 billion in cash flow growth from 2024 to 2030, a $5 billion improvement in both metrics from the prior plan. The company said the Plan's increased earnings and cash flow outlook reflects stronger contributions from advantaged assets, a more profitable business mix, and lower operating costs. The company now anticipates more than $14 billion in Upstream earnings growth at constant prices from 2024, an increase of $5 billion versus prior guidance.
Over the next five years, the company expects to generate roughly $145 billion in cumulative surplus cash flow at $65 real Brent, with return on capital employed now reaching over 17% in 2030.
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