Summary
Exxon Mobil Corporation (XOM) reported a significant decrease in net income for the second quarter and first half of 2009 compared to the same periods in 2008. This decline was primarily driven by lower crude oil and natural gas realizations, reflecting the challenging global economic environment and its impact on commodity prices and demand. Despite the lower earnings, the company maintained a strong focus on capital investment, allocating significant resources to projects across its Upstream, Downstream, and Chemical segments. ExxonMobil also continued to return substantial capital to shareholders through dividends and share repurchases, underscoring its commitment to shareholder value even amidst economic headwinds. The company's financial position remained robust, with a low debt-to-capital ratio, providing a solid foundation for navigating the current market conditions.
Financial Highlights
39 data points| SG&A Expenses | $3.52B |
| Operating Expenses | $66.94B |
| Interest Expense | $343.00M |
| Net Income | $3.95B |
| EPS (Basic) | $0.82 |
| EPS (Diluted) | $0.81 |
| Shares Outstanding (Basic) | 4.85B |
| Shares Outstanding (Diluted) | 4.87B |
Key Highlights
- 1Net income for the second quarter of 2009 was $3.95 billion, a substantial decrease from $11.68 billion in the second quarter of 2008.
- 2For the first six months of 2009, net income was $8.50 billion, down from $22.57 billion in the same period of 2008.
- 3Earnings per share reflected this trend, with Q2 2009 at $0.81 (diluted) versus $2.22 in Q2 2008, and H1 2009 at $1.73 versus $4.24 in H1 2008.
- 4Upstream earnings saw a significant decline due to lower crude oil and natural gas realizations, with Q2 2009 earnings at $3.81 billion compared to $10.01 billion in Q2 2008.
- 5Downstream and Chemical segments also experienced reduced earnings, impacted by lower margins, volumes, and specific market conditions.
- 6The company returned approximately $16 billion to shareholders in the first half of 2009 through dividends and share purchases, with a continued share repurchase program in place.
- 7Capital and exploration expenditures remained robust, totaling $6.56 billion in Q2 2009 and $12.34 billion for the first half of 2009, indicating ongoing investment in future growth.