The results may spark another showdown with the White House. On Friday, President Joe Biden’s administration criticized oil companies for directing money to shareholders instead of production.
Exxon boasted that cash flow from its operations soared to $76.8 billion last year, up from $48.1 billion in 2021.
The firm made a profit of 14,000 million dollars in the fourth quarter, 60% more than in the same period last year, but almost 25% less than in the previous quarter, due to the fall in crude oil prices and the interruptions of some operations due to the cold.
Adjusted earnings per share for the fourth quarter came in at $3.09 per share, below the $3.32 per share forecast by Zacks Financial.
With information from Reuters.