ExxonMobil Beats Earnings Estimates in Q3
Exxon Mobil (XOM) Corporation is a global oil and natural gas company. Founded in 1870 and headquartered in Irving Texas, Exxon Mobil explores for and produces crude oil and natural gas, manufacture and markets commodity petrochemicals, and transports and sells crude oil, natural gas, and petroleum.
Exxon Mobil recently announced its Q3 2018 financial results and earnings. The company outshone its earnings expectations of $1.199 per share with $62 billion in earnings or $1.46 per share.
Cash flow from operations and asset sales was reported at $12.6 billion. $3.5 billion was distributed in the form of dividends to shareholders. Capital and exploration expenditures rose 10 percent year-over-year to $6.6 billion.
Oil-equivalent production was down 2 percent from third quarter 2017, but saw an increase from second quarter 2018 at 3.8 million barrels per day.
Darren W. Woods, chairman, and chief executive officer stated, “We’re pleased with the increase in production from the second quarter of 2018 recognizing it reflects contributions from just one of our key growth areas, the Permian. We expect to continue to increase volumes over time as we ramp up activity in the Permian and new projects start up.”
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!