https://seekingalpha.com/article/4464818-exxon-mobil-moving-past-dividend-cut-arguments
The tide may have turned but we are still swimming na--d…..
What the market giveth, the market also taketh. It is mostly a price story. When OPEC+ increases production, it will be a totally different story. The results are not reflective of any fundamental shifts of how the company is being managed. Attrition is high, morale is low.
Just to summarize - if you haven't actually read the 3Q21 report:
3Q21:
lower operating expenses
lower planned maintenance activity
structural cost reductions
lower overall development costs
lower-emission natural gas validates reduction efforts
lower turnaround activity
Lower corporate costs, partly offset by net unfavorable tax impacts
Reduced expenses, partly offset by unfavorable foreign exchange impacts
lower expenses, partly offset by the absence of favorable one-time items
lower liquids volumes driven by entitlement effects
more than offset by lower entitlements, increased government mandates, decline and divestments
Lower margins on weaker realized fuels margins, and unfavorable foreign exchange impacts, partly offset by reduced expense
500,000 metric tons per year of advanced recycling capacity
Carbon capturing and safely storing up to 100 million metric tons per year by 2040
locally grown plant-based feedstock and hydrogen with carbon capture and storage
Lower financing costs
improve total debt to capital ratio to 25%
Net income (loss) including noncontrolling interests
It doesn’t change the fact that this is a toxic company led by incompetent managers. We employees will not see any of this financial upside but will continue to be PIPed.
@OP should know better than to post anything remotely positive on this page. The bottom feeders here will just gaslight you for it.
Not a robot here and no need to up or downvote my own post. I'll simply repost a message I published in another similar thread (apologies for quoting myself...)
*There's nothing surprising actually with those results. It's a purely mechanical move. Likewise, temperature goes up when the Sun rises and goes down when it sets.
The fundamental flaws in the company organisation, culture and long term strategy that have been exposed during the peak of the pandemic are still there. I love this quote by Warren Buffett: “Only when the tide goes out do you discover who's been swimming na--d.” We've all seen that EM didn't wear any bathing suit. Now that the tide is high again, things are covered up but the “dividend aristocrat”, like the king, is still na--d.
Only good thing we may hope for, as employees, is that this will soothe the anxiety crisis of the Irving folks and it will refrain them from making decisions in “panic mode”.*
…quietly awaiting trolls to start bashing the company and using bots to upvote their own posts…