ExxonMobil (XOM) Tops Q1 EPS by 12c

ExxonMobil (NYSE: XOM) reported Q1 EPS of $0.43, $0.12 better than the analyst estimate of $0.31. Revenue for the quarter came in at $48.7 billion versus the consensus estimate of $45.31 billion.

"The organization continues to respond effectively to challenging industry conditions, capturing enhancements to operational performance and creating margin uplift despite low prices,” said Rex W. Tillerson, chairman and chief executive officer. “The scale and integrated nature of our cash flow provide competitive advantage and support consistent strategy execution.”

The corporation is making steady progress on its investment plans. New project capacity additions drove liquids production up 11.5 percent in the quarter, or 261,000 barrels per day. Total Upstream volumes increased to 4.3 million oil-equivalent barrels per day, while capital and exploration expenditures were reduced 33 percent to $5.1 billion.

Chemical earnings increased 38 percent to $1.4 billion on stronger margins and higher sales volumes. The business is capturing increased specialty and commodity product demand along with significant cost benefits from both gas and liquids cracking advantages at our integrated sites. The Downstream segment earned $906 million as global gasoline demand remains relatively strong.

For earnings history and earnings-related data on ExxonMobil (XOM) click here.

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