Exxon Mobil Corp faced contraction in eps, despite strong ornbsp; segment results and overall Sales growth in the second quarter 2018, earnings decreased by
-3.16 % to $0.92 per share, while Sales increased in double digits by 12.91 % to $
71.46 billions, from the same quarter a year ago.
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From forth quarter 2017, profit plummeted by
-53.41 % from $1.97 per share and Sales surged by 37.32 % from $52.04 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
-2.54 % from company's earnings, resulting in $3,986 million net income in the second quarter 2018, a decline compare to net earnings of $4,090 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 second quarter 2018, as a result net margin eased to 5.58%.
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 %.
Exxon Mobil Corp is expected to report next financial results on October 29, 2018.
