Summary
ExxonMobil Corporation's third quarter 2012 report indicates a slight decrease in earnings compared to the same period in the prior year, with net income attributable to ExxonMobil at $9.57 billion compared to $10.33 billion in Q3 2011. This was primarily driven by lower Upstream earnings, which saw a significant drop due to production volume and mix effects, as well as lower crude oil and natural gas realizations. However, Downstream segment earnings showed substantial improvement, more than doubling from Q3 2011, largely due to higher refining margins and gains on asset sales, including a significant contribution from the Japan restructuring. Financially, the company maintained a strong liquidity position with $13.06 billion in cash and cash equivalents. Capital expenditures remained robust, reflecting ongoing investment in Upstream projects. The company continued its commitment to shareholder returns, distributing $7.6 billion in the third quarter through dividends and significant share repurchases. The debt-to-total capital ratio remained low at 6.7%, indicating a healthy balance sheet.
Financial Highlights
42 data points| SG&A Expenses | $3.47B |
| Operating Expenses | $97.82B |
| Interest Expense | $59.00M |
| Net Income | $9.57B |
| EPS (Basic) | $2.09 |
| EPS (Diluted) | $2.09 |
| Shares Outstanding (Basic) | 4.60B |
| Shares Outstanding (Diluted) | 4.60B |
Key Highlights
- 1Third quarter 2012 net income attributable to ExxonMobil was $9.57 billion, a decrease of 7% compared to $10.33 billion in the third quarter of 2011.
- 2Upstream earnings declined significantly, down $2.4 billion from Q3 2011, impacted by lower production volumes and reduced crude oil and natural gas prices.
- 3Downstream earnings saw a strong increase, rising by $1.6 billion from Q3 2011, driven by improved refining margins and asset sale gains, notably from the Japan restructuring.
- 4Total capital and exploration expenditures were $9.2 billion in Q3 2012, an increase from the prior year, reflecting continued investment in upstream projects.
- 5The company distributed $7.6 billion to shareholders in Q3 2012 via dividends and share repurchases.
- 6Total cash and cash equivalents stood at $13.06 billion as of September 30, 2012, indicating strong liquidity.
- 7The debt-to-total capital ratio was 6.7% at the end of Q3 2012, down from 9.6% at year-end 2011.