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Exxon shares fall after big earnings miss

  • ExxonMobil's (XOM) $1.55 EPS, which fell far short of expectations, was the company's lowest EPS since Sept. 2010. (Q2 results)
  • Earned $6.86B on revenue of $106.47B billion after earning $15.9B on revenue of $127.36B in the year-ago quarter when results were inflated by the sale of the Japanese lubricants division; removing those effects, net income fell 19%.
  • Upstream earnings were $6.3B, down 24.5% Y/Y; downstream earnings were $396M, down from $6.6B a year ago which included a $5.3B gain related to the Japan sale.
  • Oil and gas production fell 1.9%.
  • Shares -1.4% premarket.
Comments (6)
  • dacama1
    , contributor
    Comments (217) | Send Message
     
    Ouch.
    1 Aug 2013, 08:52 AM Reply Like
  • SteveTheHawk
    , contributor
    Comments (1390) | Send Message
     
    I've owned XOM only a short time at about $88/share. I wouldn't mind if it dropped to that level or lower so I could grab a few more shares.
    1 Aug 2013, 08:52 AM Reply Like
  • Larry Smith
    , contributor
    Comments (2508) | Send Message
     
    I have owned XOM a long time, they will be fine. I will listen to the conference call when I get home, the Q&A may be informative.
    1 Aug 2013, 09:11 AM Reply Like
  • rogerrigby
    , contributor
    Comment (1) | Send Message
     
    anyone can guess what the sept 92.5 puts will open at today? closed yesterday about 1.70?
    1 Aug 2013, 09:23 AM Reply Like
  • Michael Fitzsimmons
    , contributor
    Comments (9042) | Send Message
     
    Sure am glad shareholders are paying XOM execs so much....alos, it really makes you wonder about the $20 billion they sunk into share buybacks in 2012: Exxon: Buyback Heavy, Dividend Light:

     

    http://seekingalpha.co...

     

    Exxon used to be a great performer. It's a shame long-term shareholders have such big cap gains tax exposure - otherwise they would probably shift into COP or CVX. Both pay significantly higher dividends and are performing much better.
    1 Aug 2013, 01:39 PM Reply Like
  • Veritas1010
    , contributor
    Comments (1563) | Send Message
     
    While I am a patient person by temperament and experience your analysis is completely correct with regards to shareholder remuneration and growth: ''...big cap gains tax exposure'' vis-à-vis XOM.

     

    The money would be divided equitably between CVX and COP. Exxon is so big that its plodding sheer weight and cash will keep it lumbering along with low dividends and safe but never resounding direction towards positive resource (liquid) growth.

     

    While I certainly respect deeply Exxon's history and safe haven past, the future for investors are for lower returns and hefty self-aggrandizement to overpaid and underpreforming CEO's like T-Rex and his predecessor.
    1 Aug 2013, 05:33 PM Reply Like
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