Exxon Mobil beat third-quarter earnings expectations, because the oil main reached its highest liquids manufacturing degree in additional than 4 a long time.

“This quarter is without doubt one of the finest third quarters we have had up to now decade,” Exxon CEO Darren Woods advised CNBC’s “Squawk Box” on Friday. “Within the upstream, we see document volumes coming from our advantaged belongings like Guyana and the Permian.”

Here’s what Exxon reported for the third quarter in contrast with what Wall Avenue was anticipating, primarily based on a survey of analysts by LSEG: 

• Earnings per share: $1.92 adjusted, vs. $1.88 per share anticipated.
• Income: $90 billion, vs. $93.94 billion anticipated

The oil main booked internet earnings of $8.61 billion within the quarter, or $1.92 per share, down about 5% in contrast with $9.1 billion, or $2.25 per share, within the year-ago interval. Exxon’s earnings have declined as refining margins and pure fuel costs have pulled again from traditionally excessive ranges in 2023. Income fell lower than 1% to $90 billion.

The corporate returned $9.8 billion to shareholders within the quarter and elevated its fourth-quarter dividend to 99 cents per share.

Exxon mentioned it has reached its excessive manufacturing degree in additional than 40 years at 3.2 million barrels per day.

The oil main’s inventory rose modestly in morning buying and selling. Exxon shares have gained 18% this yr.