Exxon Mobil Corporation (XOM) shares climbed Tuesday after the oil and gas giant rolled out an updated corporate plan that caught investors' attention—and for good reason. The company is promising bigger earnings and cash flow without spending more money to get there.

The Plan Through 2030

ExxonMobil's updated roadmap forecasts an additional $5 billion in both earnings and cash flow growth by 2030, achieved without increasing capital spending. That brings the company's expected earnings growth to $25 billion and cash flow growth to $35 billion by decade's end.

"Several years ago, when we began to transform this company, we did so with one objective: to fully unlock our competitive advantages. Today, our transformation is driving industry-leading results," said Darren Woods, ExxonMobil chairman and CEO. "With our updated plan, we're extending that leadership position."

The numbers tell an ambitious story. Earnings growth is projected to average 13% annually through 2030, accompanied by double-digit cash flow growth. Per-share growth should be even higher, thanks to the company's ongoing share repurchase program. ExxonMobil also increased its cumulative structural cost savings plan by $2 billion to a total of $20 billion and expects to hit all 2030 corporate greenhouse gas emissions intensity targets four years early, in 2026.

Cash Flow and Shareholder Returns

Over the next five years, ExxonMobil expects to generate roughly $145 billion in cumulative surplus cash flow. As the second largest dividend payer in the S&P 500, the company has increased its annual dividend per share for 43 consecutive years. It remains on track to repurchase $20 billion worth of shares this year and plans to maintain that buyback pace through 2026.

In other news, ExxonMobil announced during a conference call following the update that CFO Kathy Mikells will retire in February 2026.

XOM shares were up 2.41%, trading at $118.78 at the time of publication.