Oct. 31, 2013, 2:49 PM
- "We’re starting to deliver,” ExxonMobil (XOM +1.9%) exec David Rosenthal says in today's earnings call after Q3 results beat expectations - "We are starting to deliver on the commitments that we made... Our main projects are on schedule and on budget.”
- Operations are running well this year, with little downtime and good turnaround in liquid volumes, Rosenthal says; because of shipping schedules, XOM didn’t load as much crude in Q3 as it could have, so that oil was not counted in overall production figures - if it had been, XOM would have earned ~$100M more, he says.
- Says XOM is considering other logistical options to transport crude from its Kearl oil sands field crude, including construction of a terminal in Edmonton to load the oil on rail cars for shipment to U.S. refineries.
Oct. 31, 2013, 8:52 AM
- Exxon Mobil's (XOM) Q3 earnings fell 18% Y/Y on weaker margins, mainly in refining, but results slightly beat analyst expectations.
- Total revenues fell 2.4% to $112.37B, but that also came in ahead of estimates of ~$106B.
- Upstream earnings, which include XOM's E&P businesses, rose 12% to $6.71B, with more than half of the gains coming from higher proceeds of oil and gas sales; oil-equivalent production rose 1.5%, with liquids production rising almost 4% while natural gas production fell 1.3%.
- Downstream earnings, which include the refining and marketing operations, plunged 81% to $592M.
- U.S. refining profit margins fell 43% to an average of $17.54/bbl during the quarter, the first time the average quarterly spread fell below $20 since late 2010.
- Shares +0.5% premarket.
Oct. 31, 2013, 8:09 AM
Aug. 1, 2013, 8:47 AM
- 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.
Aug. 1, 2013, 8:05 AM
Apr. 25, 2013, 11:41 AMExxon's (XOM -1.1%) headline earnings beat isn't holding up to investor scrutiny, as shares slide on concerns about declining production, lower profits and a reduction in money set aside for share buybacks. Earnings for XOM’s bread and butter upstream E&P business were lower. The earnings beat was mostly focused in the corporate segment with modest outperformance from operational segments. | 1 Comment
Apr. 25, 2013, 8:49 AMMore on Exxon Mobil's (XOM) Q1 results: E&P earnings declined 9.8% to $7.04B as total oil and natural gas production fell 3.5% Y/Y to 4.395M boe/day. Refining and marketing earnings fell 2.6% to $1.55B while refining-driven margins increased earnings by $780M. Chemical profits rose 62%; corporate and financing expenses fell sharply due to "favorable tax impacts." Shares -0.5% premarket. | 1 Comment
Apr. 25, 2013, 8:16 AM
Feb. 1, 2013, 8:19 AMMore on Exxon's (XOM) Q4 results: On an oil-equivalent basis, production fell 5.2% Y/Y; excluding impacts of entitlement volumes, OPEC quota effects and divestments, production fell 2.1%. Upstream earnings were $7.76B, -12% Y/Y. Downstream earnings were $1.76B vs. $425M in the year-ago period, driven by stronger refining margins. Shares +0.8% premarket. | Comment!
Feb. 1, 2013, 8:06 AM
Feb. 1, 2013, 12:05 AM
Jan. 31, 2013, 5:30 PM
Nov. 1, 2012, 8:39 AMMore on Exxon Mobil's (XOM) Q3 results: Capex totaled $9.2B, up 7% Y/Y. Oil equivalent production fell 7.5% Y/Y to 3.96M boe/day; excluding impacts of entitlement volumes and other effects, production dropped 2.9%. Cash flow from operations and asset sales was $14B. Bought back $5.1B in stock during the quarter. Shares -0.2% premarket. | 1 Comment
Nov. 1, 2012, 8:09 AM
Nov. 1, 2012, 12:05 AMNotable earnings before Thursday’s open: ABC, ABX, ADP, ALKS, APA, AVP, BCE, BYD, CI, CNSL, CTRX, CVC, DLPH, DX, EL, EPD, ESV, EXC, FIRE, GAS, GNC, GTLS, HEP, HSH, INCY, ITRI, IVZ, K, LLL, MPC, NGLS, NIHD, OCN, PEG, PFE, PXP, RDN, RGLD, SE, SIRI, SNE, SPR, TDC, TE, TEVA, UPL, UTHR, VNR, WNR, WPI, XOM, XYL | Comment!
Oct. 31, 2012, 5:30 PMNotable earnings before Thursday’s open: ABC, ABX, ADP, ALKS, APA, AVP, BCE, BYD, CI, CNSL, CTRX, CVC, DLPH, DX, EL, EPD, ESV, EXC, FIRE, GAS, GNC, GTLS, HEP, HSH, INCY, ITRI, IVZ, K, LLL, MPC, NGLS, NIHD, OCN, PEG, PFE, PXP, RDN, RGLD, SE, SIRI, SNE, SPR, TDC, TE, TEVA, UPL, UTHR, VNR, WNR, WPI, XOM, XYL | Comment!
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Exxon Mobil Corporation is engaged in energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products.
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