Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $181,502 | $285,640 | $413,680 | $344,582 | $349,585 |
| Gross Profit | -$28,883 | $31,234 | $77,753 | $52,783 | $48,873 |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$22,440 | $23,040 | $55,740 | $36,010 | $33,680 |
Over the five-year period from 2020 to 2024, Exxon Mobil’s revenue and profitability experienced notable fluctuations reflecting the volatility of the energy sector. In 2020, the company reported revenue of US$181.5 billion accompanied by a negative gross profit of US$28.9 billion and a net loss of US$22.4 billion. This performance likely mirrored the broader challenges in the oil and gas industry during the COVID-19 pandemic, when reduced demand and price collapses strained earnings. In 2021, the turnaround was impressive, with revenue rising by over 57% to US$285.6 billion, gross profit turning positive at US$31.2 billion, and net income moving into positive territory at US$23.0 billion—a dramatic year-over-year swing exceeding 100% improvement in net income. The recovery continued in 2022, with revenues increasing nearly 45% to US$413.7 billion and net income more than doubling to US$55.7 billion, reflecting strong market conditions and operational efficiencies. However, following this peak, revenue declined by approximately 17% in 2023 to US$344.6 billion while net income dropped by about 35% to US$36.0 billion, and similar contractions were seen in gross profit figures. In 2024, the figures remained relatively stable, with revenues at US$349.6 billion and net income at US$33.7 billion, suggesting a plateau after a volatile period. Overall, despite overcoming heavy losses during the initial pandemic downturn, Exxon Mobil’s subsequent recovery was significant, though recent declines highlight the sustainability challenges facing oil majors amid changing market conditions and cyclical industry dynamics.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.