Summary
Exxon Mobil Corporation's 2018 10-K filing reveals a strong financial performance, with net income attributable to ExxonMobil reaching $20.84 billion, a modest increase from $19.71 billion in 2017. The company's sales and other operating revenue saw a significant jump to $279.3 billion in 2018 from $237.2 billion in 2017, primarily driven by higher commodity prices. The Upstream segment continued to be the largest contributor to earnings, driven by favorable realizations, while the Downstream and Chemical segments also demonstrated solid performance, albeit with some margin pressure in chemicals due to increased capacity. Capital expenditures remained substantial at $25.9 billion, reflecting ongoing investments in major projects across its global portfolio, including significant spending in the U.S. Permian Basin and international ventures. The company maintained a strong balance sheet with total assets of $346.2 billion and managed its debt effectively, with a debt-to-capital ratio of 16.0%. ExxonMobil's commitment to returning value to shareholders is evident through its consistent dividend payments, which increased to $3.23 per share in 2018. The report also highlights the company's proactive approach to managing risks, including those related to commodity price volatility, climate change regulations, and cybersecurity.
Financial Highlights
48 data points| Revenue | $279.33B |
| R&D Expenses | $1.12B |
| SG&A Expenses | $11.48B |
| Operating Expenses | $259.26B |
| Interest Expense | $766.00M |
| Net Income | $20.84B |
| EPS (Basic) | $4.88 |
| EPS (Diluted) | $4.88 |
| Shares Outstanding (Basic) | 4.27B |
Key Highlights
- 1Net income attributable to ExxonMobil was $20.84 billion for the year ended December 31, 2018, up from $19.71 billion in 2017.
- 2Sales and other operating revenue increased to $279.3 billion in 2018 from $237.2 billion in 2017, driven by higher commodity prices.
- 3Upstream segment earnings were $14.1 billion, an increase from $13.4 billion in 2017, primarily due to higher realizations.
- 4Capital and exploration expenditures totaled $25.9 billion in 2018, with plans for approximately $30 billion in 2019, reflecting continued investment in growth projects.
- 5The company maintained a strong financial position with $3.0 billion in cash and cash equivalents and manageable long-term debt.
- 6ExxonMobil declared a quarterly dividend of $0.82 per common share, payable March 11, 2019, an increase from previous periods.
- 7The company reported approximately 24.3 billion oil-equivalent barrels of proved reserves at year-end 2018.