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HOUSTON and LONDON, Oct. 29, 2021 /PRNewswire/ — Third Quarter 2021 Highlights Robust demand and tight market conditions supported strong margins Accelerated our climate goals: 30% CO2 reduction by 2030 and net zero by 2050 (scope 1 and 2) Net Income: $1.8 billion Diluted earnings per share: $5.25 per share EBITDA: $2.7 billion Record cash from operating activities: $2.1 billion Strong cash flow supported debt reduction of $0.7 billion with $2.4 billion year-to-date Paid dividends and repurchased approximately 1 million shares totaling $0.5 billion in returns for shareholders Comparisons with the prior quarter and third quarter 2020 are available in the following table: Table 1 – Earnings Summary Millions of U.S. dollars (except share data) Three Months Ended Nine Months Ended September 30, 2021 June 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Sales and other operating revenues $12,700 $11,561 $6,776 $33,343 $19,816 Net income 1,762 2,059 114 4,891 572 Diluted earnings per share 5.25 6.13 0.33 14.57 1.69 Weighted average diluted share count 334 335 334 334 334 EBITDA (a) 2,691 3,018 466 7,294 1,872 Excluding LCM and Impairment (a) Net income $1,762 $2,059 $427 $4,891 $1,148 Diluted earnings per share 5.25 6.13 1.27 14.57 3.42 LCM (benefits) charges, pre-tax — — (160) — 163 Impairment, pre-tax — — 582 — 582 EBITDA 2,691 3,018 888 7,294 2,617 (a) See “Information Related to Financial Measures” for a discussion of the Company’s use of EBITDA and EBITDA excluding LCM and Impairment and Table 2 for reconciliations of net income to those measures. LCM stands for “lower of cost or market.
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