by Tyler Durden
Friday, Apr 30, 2021 - 08:22 AM
After loading up to the gills during the 2020 oil crash, Exxon is slowly but surely emerging from the crisis period (which it survived without slashing its dividend unlike so many of its peers) and moments ago the former world s largest company reported stellar earnings which not only snapped a record streak of losses as rising oil and natural gas prices bolstered one of the biggest dividends in the S&P 500 Index, but beat across the board.
More importantly, Exxon revealed a surge in cash flow as oil prices have rebounded, allowing Exxon to not only comfortably pay its dividend and capex, but also aggressively pay down debt: the key line from CEO Darren Wood.