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MarketScreener Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

EXXON MOBIL CORPORATION

(XOM)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 08/12 02:51:44 pm
43.875 USD   -0.51%
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Exxon Mobil Posts Second Consecutive Quarterly Loss

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07/31/2020 | 08:10am EDT

By Dave Sebastian

 

Exxon Mobil Corp. recorded its second consecutive quarterly loss as lower oil and gas prices sapped production gains and the decimation in global travel crimped fuel demand amid the coronavirus pandemic.

The oil producer on Friday posted a second-quarter loss of $1.08 billion, or 26 cents a share, compared with a profit of $3.13 billion, or 73 cents a share, in the comparable quarter last year. On an adjusted base, it recorded a loss of 70 cents a share. A loss in the first quarter was its first in three decades.

Analysts polled by FactSet were expecting a loss of 41 cents a share, or 61 cents a share on an adjusted basis.

Revenue fell 53% to $32.61 billion from $69.09 billion in the year-ago period. Analysts were looking for $38.16 billion.

Downstream earnings, which represents much of the company's operations after it pumps oil out of the ground, rose to $976 million from $451 million, driven by gains outside the U.S.

Oil-equivalent production was 3.6 million barrels a day, down 7% from the year-ago period.

Capital and exploration expenditures fell nearly $2 billion from the first quarter to $5.3 billion as the company moved to cut costs.

"The global pandemic and oversupply conditions significantly impacted our second quarter financial results with lower prices, margins, and sales volumes," Chairman and Chief Executive Darren Woods said. "We responded decisively by reducing near-term spending and continuing work to improve efficiency by leveraging recent reorganizations."

Mr. Woods said the company doesn't plan to take on additional debt.

"We have increased debt to a level we feel is appropriate to provide liquidity, given market uncertainties," Mr. Woods said.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
EXXON MOBIL CORPORATION -0.60% 43.79 Delayed Quote.-35.55%
LONDON BRENT OIL 2.11% 45.46 Delayed Quote.-31.89%
WTI 2.77% 42.71 Delayed Quote.-31.52%
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Financials (USD)
Sales 2020 187 B - -
Net income 2020 -1 497 M - -
Net Debt 2020 58 501 M - -
P/E ratio 2020 -107x
Yield 2020 7,75%
Capitalization 190 B 190 B -
EV / Sales 2020 1,33x
EV / Sales 2021 1,15x
Nbr of Employees 74 900
Free-Float 52,7%
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Technical analysis trends EXXON MOBIL CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 49,67 $
Last Close Price 44,97 $
Spread / Highest target 71,2%
Spread / Average Target 10,4%
Spread / Lowest Target -13,3%
EPS Revisions
Managers
NameTitle
Darren W. Woods Chairman & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
Kenneth C. Frazier Independent Director
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