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ExxonMobil: Q1 EPS down 27%

( - ExxonMobil reports net income of $8.
22bn for Q1 2024, or $2.06 per share, down 27% on a basis adjusted for exceptional items a year earlier.

The energy group explains this drop in earnings by a decline in industry refining margins and natural gas prices from last year's highs, to within their historic 10-year range.

However, ExxonMobil says it is making good progress with its plans to increase the earnings power of existing businesses by investing in higher-value assets and products, and to further reduce structural costs.

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