For the forth quarter 2017 earnings per share soared by 384.18 % to $1.97 per share, despite Sales decrease of
-14.72 % to $
52.04 billions, year on year.
From preceding quarter, eps more than doubled by 112.35 % from $0.93 per share and Sales fell by
-21.36 % from $66.17 billions.
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Sales have contracted due the decrease in revenues in Upstream
-38.16%, Downstream
-37.14%, Chemical
-30.49%, Other
-33.33%.
Net earnings increase of
315.46 % in the forth quarter 2017 was supported by expanding profits in Downstream and Chemical businesses, 98.54% and 2.25% respectively, while profits recoiled in Upstream segment. Producing overall net income of $8,409 millions for the forth quarter 2017, compare to income of $2,024 millions achieved a year before.
Other segment cut it's deficit to $
-378.0 million. Exxon Mobil Corp also emphasized it's improving profit margins, where net margin rose to 16.16% in forth quarter 2017, and operating margin edged up to 25.96%.
The company's bottom-line growth was helped by $5,392 million tax benefit, without it, the forth quarter 2017 results would be much more moderate.
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 2017, Exxon Mobil Corp reported Sales of $
244.36 billions and net income of $
19.85 billions.
Oil & Gas Integrated Operations Company explained also, that Eps surged by 146.28 % to $4.63 per share from $1.88 in the previous fiscal year, while Sales advanced by 8.08 % from $226.09 billions a year ago.
Exxon Mobil Corp is expected to report next financial results on July 30, 2018.
