Exxon (XOM) 49% YoY Earnings Gain? Keep Dreaming
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Price: $91.76 +1.17%
Revenue Growth %: -12.3%
Financial Fact:
Other income: 561M
Today's EPS Names:
LBIX, ESEA, ISS, More
Revenue Growth %: -12.3%
Financial Fact:
Other income: 561M
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade XOM Now!
Shares of Exxon (NYSE: XOM) are trading fractionally higher following its earning release on Thursday. While the numbers appear solid, deeper analysis shows the company actually missed estimates. Exxon reported Q2 EPS $3.41, which compares to the Street estimate of $1.95. Ex-gains, however, the company earned $1.80 per share.
Second quarter earning of $15.9 billion included a net gain of $7.5 billion associated with divestments and tax-related items. Excluding these items, second quarter earnings were $8.4 billion.
Capital and exploration expenditures were $9.3 billion in the second quarter, taking the six month total to $18.2 billion. The company plans to invest $37 billion per year over the next five years in this area.
Additional 2Q Highlights:
• Capital and exploration expenditures were $9.3 billion, down 9% from the second quarter of 2011.
• Oil-equivalent production decreased 5.6% from the second quarter of 2011. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was essentially flat.
• Cash flow from operations and asset sales was $13.9 billion, including proceeds associated with asset sales of $3.7 billion.
• Share purchases to reduce shares outstanding were $5 billion.
• Dividends per share of $0.57 increased 21% compared to the second quarter of 2011.
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Second quarter earning of $15.9 billion included a net gain of $7.5 billion associated with divestments and tax-related items. Excluding these items, second quarter earnings were $8.4 billion.
Capital and exploration expenditures were $9.3 billion in the second quarter, taking the six month total to $18.2 billion. The company plans to invest $37 billion per year over the next five years in this area.
Additional 2Q Highlights:
• Capital and exploration expenditures were $9.3 billion, down 9% from the second quarter of 2011.
• Oil-equivalent production decreased 5.6% from the second quarter of 2011. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was essentially flat.
• Cash flow from operations and asset sales was $13.9 billion, including proceeds associated with asset sales of $3.7 billion.
• Share purchases to reduce shares outstanding were $5 billion.
• Dividends per share of $0.57 increased 21% compared to the second quarter of 2011.
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