EXXON MOBIL CORP Quarterly Report for Q3 Ended Sep 30, 2015

Summary

ExxonMobil Corporation's third quarter 2015 filing for the period ending September 30, 2015, reveals a significant decline in overall profitability compared to the previous year, primarily driven by substantially lower upstream realizations. Net income attributable to ExxonMobil dropped to $4.24 billion from $8.07 billion in the same quarter of 2014, with diluted earnings per share falling to $1.01 from $1.89. Despite the challenging upstream environment, the company's downstream and chemical segments showed strength, with downstream earnings increasing significantly due to stronger margins and chemical earnings also seeing a modest rise. Capital and exploration expenditures were reduced by 22% year-over-year in the quarter, reflecting disciplined investment. The company continued its commitment to returning capital to shareholders, distributing $3.6 billion in the quarter through dividends and share repurchases.

Key Highlights

• 1Net income for the third quarter of 2015 was $4.24 billion, a decrease of approximately 47.4% compared to $8.07 billion in the third quarter of 2014.
• 2Earnings per diluted share decreased to $1.01 from $1.89 year-over-year.
• 3Upstream earnings experienced a significant decline, down $5.06 billion to $1.36 billion, mainly due to lower liquids and gas realizations.
• 4Downstream earnings more than doubled, increasing by $1.01 billion to $2.03 billion, driven by stronger refining margins.
• 5Chemical earnings saw a slight increase of $27 million to $1.23 billion, also benefiting from improved margins.
• 6Capital and exploration expenditures for the quarter were $7.67 billion, a decrease of 22% from $9.84 billion in the prior year's quarter.
• 7Total debt increased to $34.3 billion from $29.1 billion at year-end 2014, leading to a higher debt-to-total capital ratio of 16.2%.

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