UPDATE: Exxon Mobil (XOM) Tops Q1 EPS by 7c; Revs Light; Production Slips
Exxon Mobil (NYSE: XOM) reported Q1 EPS of $2.12, $0.07 better than the analyst estimate of $2.05. Revs of $108.8 billion compare with consensus views calling for $119.8 billion.
Upstream earnings were $7,037 million in the first quarter of 2013, down $765 million from the first quarter of 2012. Lower liquids realizations, partially offset by improved natural gas realizations, decreased earnings by $230 million. Production volume and mix effects reduced earnings by $280 million. All other items, including higher operating expenses, decreased earnings by $250 million.
Production slipped 3.5 percent from last year on an oil-equivalent basis.
Nat gas production fell 823 mcf/d to 13.213 tcf/d.
Downstream earnings were $1,545 million, down $41 million from the first quarter of 2012. Stronger margins, mainly in refining, increased earnings by $780 million. Volume and mix effects decreased earnings by $290 million.
Chemical earnings of $1,137 million were $436 million higher than the first quarter of 2012. Higher margins, mainly commodities, increased earnings by $320 million. All other items, including gains on asset sales, increased earnings by $120 million. First quarter prime product sales of 5,910 kt (thousands of metric tons) were 427 kt lower than last year's first quarter due mainly to the Japan restructuring.
For earnings history and earnings-related data on Exxon Mobil (XOM) click here.