- Upstream liquids production grows by 8 percent from a year
earlier, driven by the Permian Basin
- Guyana resource estimate increases to over 6 billion
oil-equivalent barrels; Liza Phase 1 nears startup
- U.S. Gulf Coast steam cracker exceeds design capacity by 10
percent, less than a year after startup
Exxon Mobil Corporation (NYSE:XOM):
First
Second Quarter
Quarter
First Half
2019
2018
%
2019
%
2019
2018
%
Earnings Summary
(Dollars in millions, except per share
data)
Earnings (U.S. GAAP)
3,130
3,950
-21
2,350
33
5,480
8,600
-36
Earnings Per Common Share
Assuming Dilution
0.73
0.92
-21
0.55
33
1.28
2.01
-36
Capital and Exploration
Expenditures
8,079
6,627
22
6,890
17
14,969
11,494
30
Exxon Mobil Corporation today announced estimated second quarter
2019 earnings of $3.1 billion, or $0.73 per share assuming
dilution, compared with $4 billion a year earlier. Earnings
included a favorable identified item of about $500 million, or
$0.12 per share assuming dilution, reflecting the impact of a tax
rate change in Alberta, Canada. Capital and exploration
expenditures were $8.1 billion, up 22 percent from the prior year,
reflecting key investments in the Permian Basin.
Oil-equivalent production was 3.9 million barrels per day, up 7
percent from the second quarter of 2018. Liquids production
increased 8 percent driven by Permian Basin growth and reduced
downtime, with limited impact from entitlement effects and
divestments. Natural gas volumes increased 5 percent, excluding
entitlement effects and divestments.
“We continue to make significant progress toward delivering our
long-term growth plans,” said Darren W. Woods, ExxonMobil chairman
and chief executive officer. “Our new U.S. Gulf Coast steam cracker
is exceeding design capacity by 10 percent, less than a year after
startup. Our upstream liquids production increased by 8 percent
from last year, driven by growth in the Permian Basin, and we are
preparing to startup the Liza Phase 1 development in Guyana, where
the estimated recoverable resource increased to more than 6 billion
oil-equivalent barrels.”
Second Quarter 2019 Business Highlights
Upstream
- Average crude prices were stronger than first quarter, while
natural gas prices declined with supply length and crude-linked LNG
lag effects.
- Liquids volumes increased with unconventional growth and
ramp-up at Hebron, partly offset by the impacts of higher planned
maintenance. Natural gas volumes were down from the first quarter
due to weaker seasonal gas demand in Europe.
- Permian unconventional development continued with production up
over 20 percent from the first quarter and up nearly 90 percent
from the second quarter of last year.
Downstream
- Industry fuels margins, while remaining under pressure during
the second quarter, improved from very low levels in the first
quarter on stronger gasoline margins, mainly in the U.S.
- Planned maintenance activity remained at a high level during
the quarter, as the company successfully completed a significant
turnaround at its Joliet, Illinois, refinery in the U.S.
mid-continent region. Results were also impacted by unscheduled
downtime at refineries in Baytown, Texas; Sarnia (Canada); and
Yanbu (Saudi Arabia).
Chemical
- Paraxylene margins weakened during the quarter with lengthening
supply from recent industry capacity additions.
- Results were impacted by a significant increase in turnaround
activity during the second quarter.
- Production at the new ethane steam cracker in Baytown, Texas,
successfully increased to exceed design capacity by 10
percent.
Strengthening the Portfolio
- ExxonMobil increased its estimated gross recoverable resource
for the Stabroek block in Guyana from 5.5 billion to over 6 billion
oil-equivalent barrels. During the quarter, the company made its
13th discovery on the block with the Yellowtail-1 well.
- Mozambique Rovuma Venture S.p.A., an incorporated joint venture
owned by ExxonMobil, Eni S.p.A. and China National Petroleum
Corporation, announced that the government of Mozambique approved
its development plan for the Rovuma LNG project. The project
includes two liquefied natural gas trains with a combined annual
capacity of more than 15 million metric tons. A final investment
decision is expected later in 2019.
- ExxonMobil subsidiary ExxonMobil Argentina Offshore Investments
B.V. and an affiliate of Qatar Petroleum won three exploration
blocks during Argentina’s first offshore bid round, adding
approximately 2.6 million net acres to ExxonMobil’s holdings in the
country.
- ExxonMobil announced that it will increase its offshore
exploration acreage in Namibia with the addition of approximately 7
million net acres following the signing of agreements with the
government of Namibia and the National Petroleum Corporation of
Namibia.
Investing for Growth
- The company announced that it has funded the Liza Phase 2
development offshore Guyana after it received government and
regulatory approvals. Phase 2 startup is expected in mid-2022,
producing up to 220,000 barrels of oil per day, while Phase 1
remains on track for first oil by the first quarter of 2020.
ExxonMobil estimates it will achieve gross production of over
750,000 barrels per day from the Stabroek Block by 2025.
- ExxonMobil and SABIC announced the decision to proceed with the
Gulf Coast Growth Ventures project to construct a new chemical
facility in San Patricio County, Texas. The new facility will
include an ethane steam cracker with a capacity of 1.8 million
metric tons per year, two polyethylene units and a monoethylene
glycol unit.
- ExxonMobil made a final investment decision on a multi-billion
dollar expansion of its integrated manufacturing complex in
Singapore to convert fuel oil and other bottom-of-the-barrel crude
products into higher-value lube basestocks and distillates. The
expansion will add 20,000 barrels per day of ExxonMobil Group II
basestocks capacity and increase production of lower-sulfur fuels
by 48,000 barrels per day.
- ExxonMobil announced that it will proceed with a $2 billion
expansion project at its Baytown, Texas, chemical plant. The
expansion will add annual production of about 400,000 metric tons
of VistamaxxTM performance polymers, and about 350,000 metric tons
of linear alpha olefins.
- The company reached a final investment decision to upgrade its
Fawley refinery in the United Kingdom to increase production of
ultra-low sulfur diesel by almost 45 percent, or 38,000 barrels per
day, along with logistics improvements. The more than $1 billion
investment includes a hydrotreater unit to remove sulfur from fuel,
supported by a hydrogen plant which will improve the refinery’s
overall energy efficiency.
- The company is proceeding with an expansion project in
Argentina’s Vaca Muerta basin. The project is expected to reach
gross production of up to 55,000 oil-equivalent barrels per day
within five years and will include 90 wells, a central production
facility and export infrastructure.
- ExxonMobil and its partners announced a project to increase
gross production at Block 15 offshore Angola by approximately
40,000 barrels per day, while changes to the production sharing
agreement will extend operations through 2032.
Advancing Innovative Technologies and Products
- The company completed an expansion at its Singapore refinery to
enhance EHCTM Group II basestocks production, with supply to
customers expected in the third quarter of 2019. The expansion will
enable customers to blend lubricants that satisfy more stringent
specifications, lower emissions and improve fuel economy and
low-temperature performance.
- ExxonMobil announced that it will invest up to $100 million
over 10 years to research and develop advanced lower-emissions
technologies with the U.S. Department of Energy’s National
Renewable Energy Laboratory and National Energy Technology
Laboratory. The agreement, among the largest between the
department’s laboratories and the private sector, will support
research and collaboration into ways to bring biofuels and carbon
capture and storage to commercial scale across the transportation,
power generation and industrial sectors.
Earnings
and Volume Summary
Millions of Dollars
2Q
2Q
(unless noted)
2019
2018
Change
Comments
Upstream
U.S.
335
439
-104
Volumes growth more than offset by lower
liquids prices and higher growth-related expenses
Non-U.S.
2,926
2,601
+325
Alberta tax rate change (+487) and higher
volumes, partly offset by lower prices and higher maintenance and
exploration expenses
Total
3,261
3,040
+221
Prices -730, volumes +720, other
+230
Production (koebd)
3,909
3,647
+262
Liquids +177 kbd: growth and lower
downtime, partly offset by decline
Gas +507 mcfd: growth and higher demand,
partly offset by decline
Downstream
U.S.
310
695
-385
Increased downtime/maintenance
Non-U.S.
141
29
+112
Favorable foreign exchange effects,
reduced downtime/maintenance, and portfolio/projects contribution,
partly offset by lower margins and higher operations expenses
Total
451
724
-273
Margins -240, downtime/maintenance
-140, portfolio/projects +70, other +40
Petroleum Product Sales (kbd)
5,408
5,502
-94
Chemical
U.S.
(6
)
453
-459
Lower margins and higher
downtime/maintenance
Non-U.S.
194
437
-243
Lower margins, unfavorable foreign
exchange and tax impacts, and higher project-related expenses
Total
188
890
-702
Margins -440, downtime/maintenance
-120, project-related expenses -30, other -110
Prime Product Sales (kt)
6,699
6,852
-153
Corporate and financing
(770
)
(704
)
-66
Earnings
and Volume Summary
Millions of Dollars
2Q
1Q
(unless noted)
2019
2019
Change
Comments
Upstream
U.S.
335
96
+239
Volume growth, higher liquids prices, and
lower impairments, partly offset by lower gas prices and higher
growth-related expenses
Non-U.S.
2,926
2,780
+146
Alberta tax rate change (+487) and higher
liquids prices, partly offset by lower gas prices, higher
maintenance and exploration expenses, and lower volumes
Total
3,261
2,876
+385
Liquids prices +540, gas prices -550,
volumes +70, other +330
Production (koebd)
3,909
3,981
-72
Liquids +62 kbd: growth, partly offset by
increased planned maintenance
Gas -804 mcfd: lower seasonal demand in
Europe
Downstream
U.S.
310
(161
)
+471
Higher margins, partly offset by increased
downtime/maintenance and unfavorable yield/sales mix
Non-U.S.
141
(95
)
+236
Higher margins, partly offset by increased
downtime/maintenance and higher seasonal expenses
Total
451
(256
)
+707
Margins +1,120, downtime/maintenance
-190, yield/sales mix -120, other -100
Petroleum Product Sales (kbd)
5,408
5,415
-7
Chemical
U.S.
(6
)
161
-167
Lower margins and higher
downtime/maintenance
Non-U.S.
194
357
-163
Lower margins and higher project-related
expenses
Total
188
518
-330
Margins -180, downtime/maintenance
-120, other -30
Prime Product Sales (kt)
6,699
6,772
-73
Corporate and financing
(770
)
(788
)
+18
Earnings
and Volume Summary
Millions of Dollars
YTD
YTD
(unless noted)
2019
2018
Change
Comments
Upstream
U.S.
431
868
-437
Volumes growth more than offset by lower
liquids prices, higher growth-related expenses, and impairment
charges
Non-U.S.
5,706
5,669
+37
Alberta tax rate change (+487), higher
volumes, and favorable tax effects, partly offset by lower prices,
absence of Scarborough divestment gain (-366), and higher
maintenance and exploration expenses
Total
6,137
6,537
-400
Prices -760, volume +790, other
-430
Production (koebd)
3,945
3,768
+177
Liquids +144 kbd: growth and lower
downtime, partly offset by decline
Gas +199 mcfd: growth and lower downtime,
partly offset by decline
Downstream
U.S.
149
1,014
-865
Higher downtime/maintenance and lower
margins
Non-U.S.
46
650
-604
Lower margins and higher operations
expenses, partly offset by portfolio/projects contribution, lower
downtime/maintenance, and favorable foreign exchange
Total
195
1,664
-1,469
Margins -1,100, downtime/maintenance
-500, portfolio/projects +150, other -20
Petroleum Product Sales (kbd)
5,412
5,467
-55
Chemical
U.S.
155
956
-801
Lower margins, higher
downtime/maintenance, and lower volumes
Non-U.S.
551
945
-394
Higher volumes more than offset by lower
margins, unfavorable foreign exchange impacts, and higher
project-related expenses
Total
706
1,901
-1,195
Margins -810, downtime/maintenance
-110, other -270
Prime Product Sales (kt)
13,471
13,520
-49
Corporate and financing
(1,558
)
(1,502
)
-56
Cash
Flow from Operations and Asset Sales excluding Working
Capital
Millions of Dollars
2Q
2019
Comments
Net income including noncontrolling
interests
3,391
Including $261 million for noncontrolling
interests
Depreciation
4,631
Changes in working capital
(1,243
)
Mainly seasonal reduction in payables
Other
(832
)
Includes adjustment for noncash identified
item (deferred income tax)
Cash Flow from Operating
5,947
Activities (U.S. GAAP)
Asset sales
33
Cash Flow from Operations
5,980
and Asset Sales
Changes in working capital
(1,243
)
Cash Flow from Operations
7,223
and Asset Sales excluding Working
Capital
Millions of Dollars
YTD
2019
Comments
Net income including noncontrolling
interests
5,797
Including $317 million for noncontrolling
interests
Depreciation
9,202
Changes in working capital
1,014
Mainly driven by higher payables
Other
(1,728
)
Equity company earnings greater than
dividends, and adjustment for noncash identified item (deferred
income tax)
Cash Flow from Operating
14,285
Activities (U.S. GAAP)
Asset sales
140
Cash Flow from Operations
14,425
and Asset Sales
Changes in working capital
1,014
Cash Flow from Operations
13,411
and Asset Sales excluding Working
Capital
First Half 2019 Financial Updates
During the first half of 2019, Exxon Mobil Corporation purchased
5 million shares of its common stock for the treasury at a gross
cost of $414 million. These shares were acquired to offset dilution
in conjunction with the company’s benefit plans and programs. The
corporation will continue to acquire shares to offset dilution in
conjunction with its benefit plans and programs.
ExxonMobil will discuss financial and operating results and
other matters during a webcast at 8:30 a.m. Central Time on August
2, 2019. To listen to the event or access an archived replay,
please visit www.exxonmobil.com.
Cautionary Statement
Outlooks, projections, goals, targets, descriptions of strategic
plans and objectives, and other statements of future events or
conditions in this release are forward-looking statements. Actual
future results, including business and project plans, capacities,
costs, and timing; resource recoveries and production rates; and
the impact of new technologies, including to increase capital
efficiency and production and to reduce greenhouse gas emissions,
could differ materially due to a number of factors. These include
global or regional changes in supply and demand for oil, gas, and
petrochemicals and other market conditions that impact prices and
differentials; reservoir performance; the outcome of exploration
projects and timely completion of development and construction
projects; the impact of fiscal and commercial terms and the outcome
of commercial negotiations or acquisitions; changes in law, taxes,
or regulation including environmental regulations, and timely
granting of governmental permits; war, shipping blockades or
harassment, and other political or security disturbances; the
actions of competitors; the capture of efficiencies between
business lines; unforeseen technical or operating difficulties;
unexpected technological developments; the ability to bring new
technologies to commercial scale on a cost-competitive basis,
including large-scale hydraulic fracturing projects; general
economic conditions including the occurrence and duration of
economic recessions; the results of research programs; and other
factors discussed under the heading Factors Affecting Future
Results on the Investors page of our website at www.exxonmobil.com
and in Item 1A of ExxonMobil’s 2018 Form 10-K. We assume no duty to
update these statements as of any future date.
Frequently Used Terms and Non-GAAP
Measures
This press release includes cash flow from operations and asset
sales. Because of the regular nature of our asset management and
divestment program, we believe it is useful for investors to
consider proceeds associated with the sales of subsidiaries,
property, plant and equipment, and sales and returns of investments
together with cash provided by operating activities when evaluating
cash available for investment in the business and financing
activities. A reconciliation to net cash provided by operating
activities is shown for 2019 periods on page 7 and for 2019 and
2018 periods in Attachment V.
This press release also includes cash flow from operations and
asset sales excluding working capital. We believe it is useful for
investors to consider these numbers in comparing the underlying
performance of our business across periods when there are
significant period-to-period differences in the amount of changes
in working capital. A reconciliation to net cash provided by
operating activities is shown for 2019 periods on page 7 and for
2019 and 2018 periods in Attachment V.
This press release also includes earnings excluding identified
items, which are earnings excluding significant non-operational
events with an absolute corporate total earnings impact of at least
$250 million. The earnings impact of an identified item for an
individual segment may be less than $250 million when the item
impacts several segments. We believe it is useful for investors to
consider these figures in comparing the performance of our
underlying business across periods when one, or both, periods
include identified items. A reconciliation to earnings is shown for
2019 and 2018 periods in Attachment II.
This press release also includes total taxes including
sales-based taxes. This is a broader indicator of the total tax
burden on the corporation’s products and earnings, including
certain sales and value-added taxes imposed on and concurrent with
revenue-producing transactions with customers and collected on
behalf of governmental authorities (“sales-based taxes”). It
combines “Income taxes” and “Total other taxes and duties” with
sales-based taxes, which are reported net in the income statement.
We believe it is useful for the corporation and its investors to
understand the total tax burden imposed on the corporation’s
products and earnings. A reconciliation to total taxes is shown as
part of the Estimated Key Financial and Operating Data in
Attachment I.
References to the resource base and other quantities of oil,
natural gas or condensate may include estimated amounts that are
not yet classified as “proved reserves” under SEC definitions, but
which are expected to be ultimately recoverable. The term “project”
as used in this release can refer to a variety of different
activities and does not necessarily have the same meaning as in any
government payment transparency reports. Further information on
ExxonMobil’s frequently used financial and operating measures and
other terms including “Cash flow from operations and asset sales”,
and “Total taxes including sales-based taxes” is contained under
the heading “Frequently Used Terms” available through the
“Investors” section of our website at exxonmobil.com.
Reference to Earnings
References to corporate earnings mean net income attributable to
ExxonMobil (U.S. GAAP) from the consolidated income statement.
Unless otherwise indicated, references to earnings, Upstream,
Downstream, Chemical and Corporate and financing segment earnings,
and earnings per share are ExxonMobil’s share after excluding
amounts attributable to noncontrolling interests.
Vistamaxx and EHC are registered trademarks of Exxon Mobil
Corporation.
Exxon Mobil Corporation has numerous affiliates, many with names
that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For
convenience and simplicity, those terms and terms such as
corporation, company, our, we, and its are sometimes used as
abbreviated references to specific affiliates or affiliate groups.
Similarly, ExxonMobil has business relationships with thousands of
customers, suppliers, governments, and others. For convenience and
simplicity, words such as venture, joint venture, partnership,
co-venturer, and partner are used to indicate business and other
relationships involving common activities and interests, and those
words may not indicate precise legal relationships.
Estimated Key Financial and Operating
Data
Attachment I
Exxon Mobil
Corporation
Second Quarter 2019
(millions of dollars, unless
noted)
First
Second Quarter
Quarter
First Half
2019
2018
2019
2019
2018
Earnings / Earnings Per Share
Total revenues and other income
69,091
73,501
63,625
132,716
141,712
Total costs and other deductions
64,459
66,989
59,336
123,795
127,960
Income before income taxes
4,632
6,512
4,289
8,921
13,752
Income taxes
1,241
2,526
1,883
3,124
4,983
Net income including noncontrolling
interests
3,391
3,986
2,406
5,797
8,769
Net income attributable to noncontrolling
interests
261
36
56
317
169
Net income attributable to ExxonMobil
(U.S. GAAP)
3,130
3,950
2,350
5,480
8,600
Earnings per common share (dollars)
0.73
0.92
0.55
1.28
2.01
Earnings per common share
- assuming dilution (dollars)
0.73
0.92
0.55
1.28
2.01
Exploration expenses, including dry
holes
333
332
280
613
619
Other Financial Data
Dividends on common stock
Total
3,715
3,502
3,505
7,220
6,793
Per common share (dollars)
0.87
0.82
0.82
1.69
1.59
Millions of common shares outstanding
At period end
4,231
4,234
Average - assuming dilution
4,271
4,271
4,270
4,270
4,270
ExxonMobil share of equity at period
end
191,377
187,222
ExxonMobil share of capital employed at
period end
239,033
230,817
Income taxes
1,241
2,526
1,883
3,124
4,983
Total other taxes and duties
8,366
9,003
8,087
16,453
17,818
Total taxes
9,607
11,529
9,970
19,577
22,801
Sales-based taxes
5,261
5,507
4,985
10,246
10,788
Total taxes including sales-based
taxes
14,868
17,036
14,955
29,823
33,589
ExxonMobil share of income taxes of
equity companies
501
655
849
1,350
1,395
Attachment II
Exxon Mobil
Corporation
Second Quarter 2019
(millions of dollars)
First
Second Quarter
Quarter
First Half
2019
2018
2019
2019
2018
Earnings (U.S. GAAP)
Upstream
United States
335
439
96
431
868
Non-U.S.
2,926
2,601
2,780
5,706
5,669
Downstream
United States
310
695
(161
)
149
1,014
Non-U.S.
141
29
(95
)
46
650
Chemical
United States
(6
)
453
161
155
956
Non-U.S.
194
437
357
551
945
Corporate and financing
(770
)
(704
)
(788
)
(1,558
)
(1,502
)
Net income attributable to ExxonMobil
3,130
3,950
2,350
5,480
8,600
Identified Items Included in
Earnings
Non-U.S. Upstream
Tax Items
487
-
-
487
-
Asset Management
-
-
-
-
366
Non-U.S. Downstream
Tax Items
(9
)
-
-
(9
)
-
Non-U.S. Chemical
Tax Items
2
-
-
2
-
Corporate and financing
Tax Items
25
-
-
25
-
Corporate total
505
-
-
505
366
Earnings Excluding Identified
Items
Upstream
United States
335
439
96
431
868
Non-U.S.
2,439
2,601
2,780
5,219
5,303
Downstream
United States
310
695
(161
)
149
1,014
Non-U.S.
150
29
(95
)
55
650
Chemical
United States
(6
)
453
161
155
956
Non-U.S.
192
437
357
549
945
Corporate and financing
(795
)
(704
)
(788
)
(1,583
)
(1,502
)
Corporate total
2,625
3,950
2,350
4,975
8,234
Attachment III
Exxon Mobil
Corporation
Second Quarter 2019
First
Second Quarter
Quarter
First Half
2019
2018
2019
2019
2018
Net production of crude oil, natural
gas
liquids, bitumen and synthetic oil,
thousand barrels per day (kbd)
United States
662
543
600
631
533
Canada / Other Americas
469
391
454
462
409
Europe
103
136
121
112
140
Africa
383
410
369
376
393
Asia
727
686
746
736
696
Australia / Oceania
45
46
37
41
43
Worldwide
2,389
2,212
2,327
2,358
2,214
Natural gas production available for
sale,
million cubic feet per day (mcfd)
United States
2,803
2,591
2,712
2,758
2,583
Canada / Other Americas
249
226
238
243
219
Europe
1,215
1,136
2,113
1,662
1,835
Africa
5
9
7
6
9
Asia
3,461
3,393
3,655
3,557
3,480
Australia / Oceania
1,387
1,258
1,199
1,294
1,195
Worldwide
9,120
8,613
9,924
9,520
9,321
Oil-equivalent production (koebd)1
3,909
3,647
3,981
3,945
3,768
1 Natural gas is converted to an
oil-equivalent basis at six million cubic feet per one thousand
barrels.
Attachment IV
Exxon Mobil
Corporation
Second Quarter 2019
First
Second Quarter
Quarter
First Half
2019
2018
2019
2019
2018
Refinery throughput (kbd)
United States
1,430
1,529
1,373
1,402
1,524
Canada
344
364
383
364
386
Europe
1,314
1,384
1,325
1,320
1,439
Asia Pacific
683
714
609
646
717
Other
159
114
196
176
133
Worldwide
3,930
4,105
3,886
3,908
4,199
Petroleum product sales (kbd)
United States
2,264
2,215
2,210
2,237
2,171
Canada
482
514
484
483
499
Europe
1,443
1,595
1,510
1,476
1,585
Asia Pacific
775
814
749
762
804
Other
444
364
462
454
408
Worldwide
5,408
5,502
5,415
5,412
5,467
Gasolines, naphthas
2,198
2,216
2,149
2,173
2,216
Heating oils, kerosene, diesel
1,820
1,781
1,914
1,867
1,804
Aviation fuels
391
405
386
389
400
Heavy fuels
308
432
299
304
389
Specialty products
691
668
667
679
658
Worldwide
5,408
5,502
5,415
5,412
5,467
Chemical prime product sales,
thousand metric tons (kt)
United States
2,295
2,411
2,322
4,617
4,802
Non-U.S.
4,404
4,441
4,450
8,854
8,718
Worldwide
6,699
6,852
6,772
13,471
13,520
Attachment V
Exxon Mobil
Corporation
Second Quarter 2019
(millions of dollars)
First
Second Quarter
Quarter
First Half
2019
2018
2019
2019
2018
Capital and Exploration
Expenditures
Upstream
United States
3,255
1,752
2,548
5,803
3,000
Non-U.S.
2,987
3,103
2,813
5,800
5,614
Total
6,242
4,855
5,361
11,603
8,614
Downstream
United States
624
346
414
1,038
564
Non-U.S.
489
884
415
904
1,280
Total
1,113
1,230
829
1,942
1,844
Chemical
United States
553
414
552
1,105
757
Non-U.S.
165
119
144
309
241
Total
718
533
696
1,414
998
Other
6
9
4
10
38
Worldwide
8,079
6,627
6,890
14,969
11,494
Cash flow from operations and asset
sales excluding working capital
Net cash provided by operating
activities
(U.S. GAAP)
5,947
7,780
8,338
14,285
16,299
Proceeds associated with asset sales
33
307
107
140
1,748
Cash flow from operations and asset
sales
5,980
8,087
8,445
14,425
18,047
Changes in working capital
(1,243
)
(1,333
)
2,257
1,014
(982
)
Cash flow from operations and asset
sales
7,223
9,420
6,188
13,411
19,029
excluding working capital
Attachment VI
Exxon Mobil
Corporation
Earnings
$
Millions
$ Per
Common Share1
2015
First Quarter
4,940
1.17
Second Quarter
4,190
1.00
Third Quarter
4,240
1.01
Fourth Quarter
2,780
0.67
Year
16,150
3.85
2016
First Quarter
1,810
0.43
Second Quarter
1,700
0.41
Third Quarter
2,650
0.63
Fourth Quarter
1,680
0.41
Year
7,840
1.88
2017
First Quarter
4,010
0.95
Second Quarter
3,350
0.78
Third Quarter
3,970
0.93
Fourth Quarter
8,380
1.97
Year
19,710
4.63
2018
First Quarter
4,650
1.09
Second Quarter
3,950
0.92
Third Quarter
6,240
1.46
Fourth Quarter
6,000
1.41
Year
20,840
4.88
2019
First Quarter
2,350
0.55
Second Quarter
3,130
0.73
1 Computed using the average number of
shares outstanding during each period.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190802005068/en/
ExxonMobil Media Relations, 972-940-6007
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