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Exxon Mobil Corp  (XOM)
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    Sector  Energy    Industry Oil & Gas Integrated Operations
 
 

EARNINGS REPORT by CSIMarket

Earnings helped by tax benefit


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A $1,407 million tax benefit, helped Exxon Mobil Corp to post $0.41 eps in the forth quarter 2016



Sales growth of 2.02 %, could not prevent income contraction of -38.83 % in the forth quarter 2016, compare to same quarter a year ago. Sales were at $61.02 billions and eps at $0.41.

In comparison to previous quarter income faded by -35.26 % from $0.63 per share and Sales increased by 3.99 % from $58.68 billions.
Only one section improved , while following segments recorded decrease in revenues Upstream -38.16%, Downstream -37.14%, Chemical -30.49%, Other -33.33%.
Profits grew in Downstream and Chemical divisions, but -78.83% in income from Upstream business, has subtracted -28.48 % from company's earnings, resulting in $2,024 million net income in the forth quarter 2016, a decline compare to net earnings of $2,830 millions in the corresponding period a year ago.
Other segment cut it's deficit to $-378.0 million. Exxon Mobil Corp shifted it's focus on improving sales in the forth quarter 2016, as a result net margin eased to 3.32%.

The situation for Exxon Mobil Corp would be even worse, if there wasn't $1,407 million tax benefit, to restrain the decline to just -28.48 % in the forth quarter 2016.
1Other segments have decreased the loss.
Explaining results, Oil & Gas Integrated Operations company told, that it saw rise in: Crude oil production & Natural gas liquids (MB/D) 2,331.00 gain by 12.88 %.
While following indicators decreased: Heating oils, kerosene & diesel Refined Product Sales (MB/D) down -3.05 %, Aviation fuels Refined Product Sales (MB/D) down -2.7 %, Specialty Refined Product Sales (MB/D) down -3.08 %, Refined Product Sales Total (MB/D) down -3.52 %.
While following indicators decreased: Gasolines naphthas Refined Product Sales (MB/D) 2,382.00 -4.03 %, Heavy fuels Refined Product Sales (MB/D) 372.00 -4.37 %.
The Oil & Gas Integrated Operations company, also outlined contraction in Natural gas production (MMCF/D) -10.11 %. Looking into financial results for the fiscal year 2016, Exxon Mobil Corp reported Sales of $226.09 billions and net income of $8.38 billions.

Oil & Gas Integrated Operations Company explained also, that Income per share faded by -51.17 % to $1.88 per share from $3.85 in the previous fiscal year, while Sales fell by -15.91 % from $268.88 billions a year ago.

Exxon Mobil Corp is expected to report next financial results on May 01, 2017.
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