ExxonMobil Hikes 2030 Outlook, Lifts Earnings and Cash Flow Growth

On Dec. 9, 2025, Exxon Mobil Corporation XOM announced its 2030 corporate forecast, following which its share price rose 3.07% to $119.54, enhancing its appeal. ExxonMobil raised earnings and cash flow forecast at constant price and margin compared to 2024.

By 2030, the integrated energy giant projects to achieve $25 billion in earnings growth and $35 billion increase in cash flow, both up $5 billion from its previous plan. This will be achieved at a constant price and margin, even without raising its spending. XOM anticipates its upstream segment to exceed $14 billion in earnings growth, while its Product Solutions business to exceed $9 billion. This represents a stable integrated business model for ExxonMobil.

Investors should note that the leading integrated giant expects to generate a return on capital employed of more than 17% suggesting strong operational efficiency. This operational efficiency will ultimately lead to strong profitability, which is indicated by the projected surplus cumulative cash flow generation of $145 billion by 2030, assuming a Brent oil price of $65 per barrel. ExxonMobil mentions that the transformation it has been undergoing for the last few years is helping to achieve this industry-leading result. 

XOM is on track with its repurchase program. It is set to buy back $20 billion worth of its shares this year and expects to maintain the same pace the following year. This move will help the company achieve Earnings growth of around 13% through 2030. The annualized dividend per share has also been increased for 43 consecutive years.

By 2030, daily oil production in the upstream business of XOM is expected to rise to 5.5 million barrels of oil equivalent, mostly relying on continued improvements in advantaged assets in the Permian Basin, the most prolific basin in the United States, offshore Guyana, and in its LNG portfolio.

This move reflects a shift in focus towards more profitable and attractive business areas while lowering operational costs and enhancing financial stability. XOM, carrying a Zacks Rank #3 (Hold), believes that over the long run, this move will add more value for its shareholders and enhance investor appeal.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other key players in the integrated oil and gas space are BP p.l.c. BP, Chevron Corporation CVX and Eni S.p.A. E, each carrying a Zacks Rank #3.

BP p.l.c., a leading integrated player, recently started early production at the Atlantis Drill Center 1 expansion. With this move, BP has increased its daily production by 15,000 barrels of oil equivalent.

Chevron, headquartered in Houston, TX, is an integrated energy giant that operates across the entire value chain, from crude oil extraction to the refining of finished products. From 2015 to 2025, CVX is expecting to increase its production from 2.6 MMBOED to 3.7 MMBOED.

Eni S.p.A., headquartered in Rome, Italy, has a leading operational key performance indicator. Eni S.p.A. expects to increase its organic visible pipeline capacity from 4.1 GW in 2024 to 15 GW in 2030.

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This article originally published on Zacks Investment Research (zacks.com).

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