Summary
ExxonMobil Corporation's second-quarter 2013 results show a significant year-over-year decrease in net income, primarily driven by the absence of a substantial gain from a Japan restructuring in the prior year and weaker refining margins. Net income attributable to ExxonMobil was $6.9 billion, down from $15.9 billion in the second quarter of 2012. For the first six months of 2013, net income was $16.4 billion, a considerable drop from $25.4 billion in the same period of 2012. Despite the decline in reported earnings, the company highlighted continued strong operational performance and strategic investments. Capital and exploration expenditures remained robust, totaling $10.2 billion for the quarter and $22 billion for the first six months, indicating a commitment to future growth, including the recent acquisition of Celtic Exploration Ltd. The company also returned significant capital to shareholders, distributing $6.8 billion in the second quarter through dividends and share repurchases.
Financial Highlights
40 data points| SG&A Expenses | $3.27B |
| Operating Expenses | $93.90B |
| Interest Expense | $85.00M |
| Net Income | $6.86B |
| EPS (Basic) | $1.55 |
| EPS (Diluted) | $1.55 |
| Shares Outstanding (Basic) | 4.43B |
| Shares Outstanding (Diluted) | 4.43B |
Key Highlights
- 1Net income for the second quarter of 2013 was $6.9 billion, a 57% decrease compared to $15.9 billion in the second quarter of 2012, largely due to the absence of a prior year gain from a Japan restructuring.
- 2For the first six months of 2013, net income was $16.4 billion, down from $25.4 billion in the same period of 2012.
- 3Earnings per diluted share for the second quarter of 2013 were $1.55, down from $3.41 in the prior year quarter.
- 4Capital and exploration expenditures for the quarter were $10.2 billion, and $22 billion for the first six months of 2013, reflecting ongoing investments.
- 5The company distributed $6.8 billion to shareholders in the second quarter of 2013 through dividends and share purchases.
- 6Upstream earnings saw a decline due to lower liquids realizations and the absence of a prior year gain in Angola, despite higher natural gas realizations.
- 7Downstream earnings were significantly impacted by weaker refining margins and planned maintenance activities, in addition to the absence of the Japan restructuring gain.