What was the primary driver for the decrease in net income in the first quarter of 2012 compared to the first quarter of 2011?

The primary driver for the decrease in net income was lower earnings in the Upstream and Chemical segments. While higher realizations in Upstream provided some offset, this was insufficient to overcome lower sales volumes and higher operating expenses. Weaker margins and increased maintenance costs also impacted Chemical segment earnings.

How did ExxonMobil return value to shareholders during the quarter?

ExxonMobil returned over $7 billion to shareholders in the first quarter of 2012. This included approximately $2.22 billion in cash dividends to shareholders and approximately $5.7 billion spent on repurchasing shares of its common stock.

What is the company's outlook on capital expenditures and future investments?

ExxonMobil invested $8.83 billion in capital and exploration expenditures in the first quarter of 2012, an increase from the prior year. The company plans to invest approximately $37 billion per year over the next five years to develop new energy supplies to meet anticipated demand growth. This indicates a continued commitment to significant long-term investment in its operations.

How has the company's cash position changed, and what is its liquidity like?

ExxonMobil's cash and cash equivalents increased significantly to $18.67 billion at the end of Q1 2012, compared to $12.66 billion at the end of 2011. This strong cash position, supported by robust operating cash flow of $19.29 billion, indicates a healthy liquidity profile.

XOM 10-Q Quarterly Report Q1 FY2012 — Revenue, Net Income, EPS

Summary

ExxonMobil Corporation (XOM) reported its first-quarter 2012 financial results, showing a decrease in net income attributable to ExxonMobil to $9.45 billion from $10.65 billion in the same period of 2011. This decline was primarily driven by lower earnings in the Upstream and Chemical segments, despite a significant increase in Downstream earnings. The company generated strong operating cash flow of $19.29 billion, a notable increase from the prior year, and maintained a robust liquidity position with $18.67 billion in cash and cash equivalents at quarter-end. Despite the year-over-year dip in net income, the company continued its commitment to shareholder returns, distributing over $7 billion through dividends and share repurchases. Capital and exploration expenditures remained substantial at $8.83 billion, reflecting ongoing investments in future energy supplies. The company also highlighted its progress in meeting energy demands amidst economic uncertainty and emphasized its ongoing asset management and divestment programs.

Financial Highlights

43 data points

Beta

Net Income

$9.45B

EPS (Diluted)

$2.00

Total Assets

$345.15B

Cash & Equivalents

$18.67B

Free Cash Flow

$11.44B

Financial Statements

Beta

SG&A Expenses	$3.60B
Operating Expenses	$106.54B
Interest Expense	$107.00M
Net Income	$9.45B
EPS (Basic)	$2.00
EPS (Diluted)	$2.00
Shares Outstanding (Basic)	4.71B
Shares Outstanding (Diluted)	4.72B

Key Highlights

1Net income attributable to ExxonMobil for Q1 2012 was $9.45 billion, a decrease from $10.65 billion in Q1 2011.
2Total revenues and other income increased to $124.05 billion in Q1 2012 from $114.00 billion in Q1 2011.
3Upstream earnings decreased by $873 million year-over-year, primarily due to lower sales volumes and higher operating expenses, partially offset by higher liquid and natural gas realizations.
4Downstream earnings saw a significant increase of $487 million, driven by volume and mix effects and gains on asset sales.
5Chemical earnings decreased by $815 million, largely due to weaker margins and higher planned maintenance.
6The company returned over $7 billion to shareholders through dividends ($2.22 billion) and share repurchases ($5.7 billion) in Q1 2012.
7Capital and exploration expenditures totaled $8.83 billion in Q1 2012, an increase from $7.82 billion in Q1 2011, reflecting continued investment in future energy supplies.

EXXON MOBIL CORP Quarterly Report for Q1 Ended Mar 31, 2012

Summary

Financial Highlights

Key Highlights

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