Exxon Mobil Corporation (XOM) explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products.
Recently Exxon Mobil reported Q3 EPS of 75 cents and revenue of $65.05 billion.
Other Key Highlights from the Q3 report:
• Exxon’s recorded earnings of $3.2 billion in the third quarter, much below its previous year earnings at $6.2 billion.
• The upstream income of $2.17 billion was reported below expectations at $2.36 billion as per FactSet estimates.
• The downstream income of $1.23 billion versus $1 billion was reported as per FactSet estimates.
• Chemicals income of $241 million vs. $223.6 million expected from FactSet estimates.
• Oil production increased by 3% compared to a year earlier at 3.9 million barrels per day.
• Liquid production and natural gas volumes also soared by 4% and 1%, respectively.
“We are making excellent progress on our long-term growth strategy,” “Growth in the Permian continues to drive increased liquids production and we are ahead of schedule for first oil in Guyana. The value of our position in Guyana improved further this quarter with additional discovery, our fourth this year. We are also making good progress on our advantaged investments in the Downstream and Chemical,” stated Exxon Chairman and CEO Darren Woods.
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