Summary
ExxonMobil Corporation's first quarter 2013 report shows a slight increase in net income attributable to ExxonMobil shareholders, reaching $9.5 billion compared to $9.45 billion in the same period of 2012. This performance was driven by strong results across its segments, particularly the chemical business, despite a decrease in upstream earnings due to lower liquids realizations and production volume effects. The company continued its significant investment in capital and exploration, with expenditures totaling $11.8 billion, which included the acquisition of Celtic Exploration Ltd. This investment level signals a commitment to future energy supply development. Overall financial health remains robust, with a strong operating cash flow. However, the company's total cash and cash equivalents saw a notable decrease to $6.6 billion from $19.1 billion in the prior year, largely due to substantial shareholder distributions through dividends and share repurchases, amounting to $7.6 billion in the quarter. The company also managed its debt levels, with a debt-to-total capital ratio of 7.2%. Investors should note the ongoing legal and environmental proceedings, though management indicates none are expected to have a material adverse effect on the corporation's financial statements.
Financial Highlights
40 data points| SG&A Expenses | $3.12B |
| Operating Expenses | $92.32B |
| Interest Expense | $24.00M |
| Net Income | $9.50B |
| EPS (Basic) | $2.12 |
| EPS (Diluted) | $2.12 |
| Shares Outstanding (Basic) | 4.49B |
| Shares Outstanding (Diluted) | 4.49B |
Key Highlights
- 1Net income attributable to ExxonMobil was $9.5 billion for Q1 2013, a slight increase from $9.45 billion in Q1 2012.
- 2Capital and exploration expenditures were $11.8 billion in Q1 2013, a 33% increase year-over-year, including $3.1 billion for the acquisition of Celtic Exploration Ltd.
- 3The company distributed $7.6 billion to shareholders in Q1 2013 through dividends and share repurchases.
- 4Total cash and cash equivalents decreased significantly to $6.6 billion at the end of Q1 2013 from $19.1 billion at the end of Q1 2012.
- 5Upstream earnings decreased by $765 million year-over-year, primarily due to lower liquids realizations and production volume changes.
- 6Chemical segment earnings saw a substantial increase of $436 million, driven by higher margins.
- 7The debt-to-total capital ratio stood at 7.2% at the end of Q1 2013, up from 6.3% at year-end 2012.