Summary
ExxonMobil's first quarter 2017 results show a significant rebound in profitability, with net income attributable to ExxonMobil more than doubling to $4.01 billion ($0.95 per diluted share) from $1.81 billion ($0.43 per diluted share) in the same period of 2016. This improvement was driven by higher commodity prices, effective cost management, and stronger refining operations. Total revenues and other income saw a substantial increase to $63.29 billion from $48.71 billion year-over-year. The Upstream segment, in particular, showed a remarkable turnaround, reporting earnings of $2.25 billion compared to a loss of $76 million in Q1 2016, largely due to improved liquids and gas realizations. While Downstream earnings also increased, the Chemical segment experienced a decline in earnings. The company also made strategic acquisitions, including InterOil Corporation and Permian Basin properties, which were funded partly by issuing company stock.
Financial Highlights
41 data points| Revenue | $56.47B |
| SG&A Expenses | $2.50B |
| Operating Expenses | $52.75B |
| Interest Expense | $146.00M |
| Net Income | $4.01B |
| EPS (Basic) | $0.95 |
| EPS (Diluted) | $0.95 |
| Shares Outstanding (Basic) | 4.22B |
Key Highlights
- 1Net income attributable to ExxonMobil surged to $4.01 billion in Q1 2017, a significant increase from $1.81 billion in Q1 2016, with earnings per diluted share rising to $0.95 from $0.43.
- 2Total revenues and other income grew substantially to $63.29 billion from $48.71 billion, reflecting improved commodity prices and operational performance.
- 3The Upstream segment turned profitable, reporting earnings of $2.25 billion compared to a loss of $76 million in the prior year's quarter, driven by higher liquids and gas prices.
- 4Downstream segment earnings increased by $210 million to $1.12 billion, supported by higher margins and improved volume/mix.
- 5Chemical segment earnings decreased by $184 million to $1.17 billion, attributed to weaker margins and higher expenses.
- 6ExxonMobil completed significant acquisitions, including InterOil Corporation for $2.7 billion and Permian Basin properties for $6.2 billion, utilizing both stock and cash.
- 7Cash flow from operating activities increased significantly to $8.17 billion from $4.81 billion, reflecting improved earnings and operational working capital management.