This represents a 4.24% increase over the 3.675 million barrels of oil equivalent per day that it produced on average during the equivalent quarter of last year. The estimated base pay is $87,486 per year. This represents a 4.35% decline over the $90.500 billion that the company reported It also continues to work on lowering costs and expects $9 billion in structural cost savings by the end of 2023 versus 2019. Please do not hesitate to contact me. Stripping out certain items, earnings This is because debt is a riskier way to value a company than equity because debt must be repaid at maturity. Sign Up It has now returned to pre-pandemic debt levels, down $20 billion last year to $47.7 billion. Tackling Climate Change and Environmental Injustice, The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. However, the companys most recent increase was pretty paltry and failed to keep up with inflation despite the fact that soaring energy costs are one of the largest drivers of that inflation and Exxon Mobil has been consistently reporting some of the highest profits in the industry. How ExxonMobil Makes Money: Upstream, Downstream, Chemical This is something that we also saw in the results of other traditional energy companies that have reported, such as Pioneer Natural Resources (PXD). Show publisher information ExxonMobil generated a total of $438.3 billion revenues during 2013. Exxon annual operating income for 2022 was $77.753B, a 148.94% increase from 2021. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. President Biden has proposedand the U.S. House of Representatives has already passeda 15 percent minimum corporate tax, which is in the House-passed fiscal year 2022 budget reconciliation bill, along with other measures to stop corporate tax avoidance. Accessed May 02, 2023. https://www.statista.com/statistics/281181/total-assets-of-exxon-mobil/, Exxon Mobil. The Best Stocks to Invest $5,000 in Right Now, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. 5-year trend. (see Methodology for more details on these tax rate calculations). To make the world smarter, happier, and richer. Exxon Mobil. The company slashed spending after fuel demand cratered two years ago. RT=Real-Time, EOD=End of Day, Dollars). Exxon Mobils profit more than doubled in the first quarter as the oil and natural gas company overcame declining prices by producing more oil. After all, higher production means that the company had more products that it could sell in exchange for money. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. This gives the company a net debt-to-equity ratio of 0.04 today. Here is how that compares to some of the companys peers: (all data comes from the most recent financial reports as of the time of writing, which may not necessarily be the first-quarter 2023 earnings report). Total assets of ExxonMobil from 2001 to 2022 (in million U.S. dollars) [Graph]. Exxon Mobil Corp (XOM) Exxon Mobil Revenue (Annual): 398.68B for Dec. 31, 2022 View 4,000+ Financial Data Types: Add Browse Revenue (Annual) Chart Weve evolved our operating model into three core businesses: Upstream, Product Solutions, and Low Carbon Solutions. Unfortunately, this is not a trend that is likely to continue as Exxon Mobil stated during the earnings conference call that it will be performing scheduled maintenance activity at some of its production sites. American Progress would like to acknowledge the many generous supporters who make our work possible. Quarter Ended I am long various energy-focused funds that may hold long positions in any stock mentioned in this article. I am not receiving compensation for it (other than from Seeking Alpha). Overall, Exxon Mobil continues to be a solid investment prospect with a very reasonable valuation. ExxonMobil is moving to expand its carbon capture and storage segment. As I discussed in a recent blog post, earlier this month the Organization of Petroleum Exporting Countries agreed to reduce its output by one million barrels per day in May, which comes on the heels of a two-million barrel per day cut back in October 2022. And the average net profit margin for S&P 500 companies averaged across those quarters is 12.79 percent, according to a Yahoo News analysis of the FactSet data. Building an Economy for All, Economic Justice, Economy, Taxes+1More, Associate Director, State and Local Government Affairs. Leading global oil and gas producers based on revenue 2022, Leading oil and gas producers based on market cap March 2023, Leading global oil and gas producers based on net income 2022, ExxonMobil's employment figures 2001-2022. Lead industry in innovations that advance modern living and a net-zero future. The ideal entry-level account for individual users. WebTotal Revenue 398,675,000 398,675,000 285,640,000 181,502,000 264,938,000 Cost of Revenue 295,608,000 295,608,000 211,806,000 170,447,000 199,625,000 Gross Profit Product Solutions consolidates Downstream and Chemical to form the worlds largest downstream and chemical company. Overall, Exxon Mobil continues to be a solid investment prospect with a very reasonable valuation. Exxon Mobils profit more than doubled in the first quarter as the oil and natural gas company overcame declining prices by producing more oil. This statistic was assembled using several editions of the report. Exxon net profit margin for the three months ending December 31, 2022 was . We do not believe in changing an investment based on short-term market swings. The amount passengers paid to fly each mile on American rose 21% from a year earlier. However, we believe that, given the current structural problems in the United States, the best investment opportunities may lie elsewhere in the world. Terms of Use. Currently, you are using a shared account. Thus, it received less for each unit of crude oil or natural gas that it sold, but it sold more of them. The tax rate for large corporations is nominally 21 percentdown from 35 percent because of the Tax Cuts and Jobs Act (TCJA) of 2017. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. Overall, though, it does not appear that the companys shareholders have anything to worry about with respect to its debt. , although the company was specifically referring to profits and not revenue: Fortunately, there are some signs that energy prices could rise over the remainder of the year. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Exxon revenue for the twelve months ending December 31, 2022 was $413.680B, a 44.83% increase year-over-year. Here is how this compares to the companys peers: As we can clearly see, all of these companies stocks appear quite cheap relative to their forward earnings per share growth. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. , earlier this month the Organization of Petroleum Exporting Countries agreed to reduce its output by one million barrels per day in May, which comes on the heels of a two-million barrel per day cut back in October 2022. WebAccording to Exxon Mobil 's latest financial reports the company's current revenue (TTM) is $398.67 B . Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. ExxonMobil is moving to expand its carbon capture and storage segment. Available: https://www.statista.com/statistics/281181/total-assets-of-exxon-mobil/, Total assets of ExxonMobil from 2001 to 2022, Immediate access to statistics, forecasts & reports, ExxonMobil brand value worldwide 2015-2022, ExxonMobil's cash dividends per common share 2001-2022, ExxonMobil's upstream net profit 2001-2022, ExxonMobil's Downstream net profit 2001-2021, ExxonMobil Chemical's net income 2001-2021, ExxonMobil's proved reserves by product type 2021-2022, ExxonMobil's upstream production by type 2001-2022, ExxonMobil's refining capacity by region 2011-2022, ExxonMobil's petroleum product sales 2001-2021, ExxonMobil Chemical's prime product sales 2001-2021, ExxonMobil's costs and deductions by type 2021-2022, ExxonMobil's global net greenhouse gas emissions 2005-2022, ExxonMobil's air emissions by pollutant 2010-2022, ExxonMobil's number of global fluid spills 2005-2022, Leading oil and gas producers in the U.S. based on revenue 2022, Leading oil and gas companies worldwide brand value 2022, Repsol S.A. in Latin America: share of investments by country 2016, Total asset value of BG E&P Brasil Ltda. Revenue of XOM during the year 2021 = $285.64 Billion. In 2021 the company made an earning of $31.23 B an increase over its 2020 earnings that were of -$28.89 B .The earnings displayed on this page is the company's Pretax Income . Chemical operating earnings were more than twice the profit a year ago when the business was hurt by the pandemic. One metric that we can use to evaluate an oil companys financial structure is the net debt-to-equity ratio. The airline said its bookings in March were strong, allowing revenue to soar 22% to $5.7 billion in the quarter. Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC , sources told Reuters. read more. That continues a share repurchase strategy that the company accelerated last year. It has also increased dividend payments to shareholders over the past several years. However both companies saw revenue slip compared to a year ago, as the two U.S. majors come off booming profits last year. Exxon Mobil reported total revenue of $86.564 billion in the first quarter of 2023. The company also managed to complete a project that should boost its output of refined products. The stock hit its all-time high of about $119 per share recently, and today it announcedfirst-quarter earnings that powered past estimates. This status quo can be changed. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Profits more than doubled even as revenue decreased versus last year. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Verizon reported that noncontrolling interests lowered its self-reported effective tax rate by 0.4 percentage points. Exxon reported an adjusted profit of $2.05 per share, 11 cents above analysts' forecast as the bottom line benefited from soaring oil and gas prices, higher volumes and asset sales. Overall, the multi-nation organizations output will be 3.66 million barrels per day lower than in the summer of 2022. Please create an employee account to be able to mark statistics as favorites. Indeed, that did happen following the announcement of the production cuts, but it did not last as recession fears continue to weigh on the market. The estimated additional pay is $22,086 per year. WebFiscal year is January-December. I am not receiving compensation for it (other than from Seeking Alpha). Polls show that raising taxes on corporations is among the most popular elements of President Bidens economic agenda. Overall, ExxonMobil stock has vastly outperformed the broader market in the last year, providing a 1-year trailing total return of 67.2% compared with -7.5% for the S&P 500 as of July 29. After all, such a scenario would reduce our incomes and will almost certainly cause the stock price to decline. } I have no business relationship with any company whose stock is mentioned in this article. }. All quotes delayed a minimum of 15 minutes. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. At Energy Profits in Dividends, we seek to generate a 7%+ income yield by investing in a portfolio of energy stocks while minimizing our risk of principal loss. IRVING, Texas April 28, 2023 Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Learn about our sister organization, the Center for American Progress Action Fund, an advocacy organization dedicated to improving the lives of all Americans. It consists of Energy Products (refining and fuels), Chemical Products (petrochemicals and advanced recycling), and Specialty Products (high-quality lubricants and synthetics) that are needed by modern society. This is because these highlights provide a background for the remainder of the article as well as serve as a framework for the resultant analysis. XOM stock is currently trading at an attractive valuation. This represents a 108.58% increase over the $5.480 billion that the company reported in the first quarter of 2022. Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. This certainly makes the company appear very undervalued at the current price. dataLayer.push({"event": "signup_submit", "form_detail":"enSubscribeSlideUp"}); Learn More. This is because overpaying for any asset is a surefire way to earn a suboptimal return on that asset. As I discussed in a recent. In the same period a year earlier, the company earned 41 cents per share on an adjusted basis, on $67.17 billion in revenue. Please be aware of the risks associated with these stocks. Indeed, that did happen following the announcement of the production cuts, but it did not last as recession fears continue to weigh on the market. In conclusion, Exxon Mobils results for the first quarter of this year were quite strong, although the second quarter may come in a bit weaker unless energy prices surge upward. As the company lowers its share count, its dividend payments will also take less out of its cash flow. Norwegian Cruise Line also boosted its full-year profit forecast amid strong travel demand. Exxons fourth-quarter income of $8.8 billion was about $500 million more than analysts surveyed by Refinitiv had forecast. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. May '19 Power Hedge is an independent stock research and analysis firm with a passion for macro- and microeconomic analysis. Prices for oil, natural gas and petrochemicals all soared in 2021, allowing ExxonMobil to report revenue of $285.6 billion, up from $181.5 billion in 2020. You only have access to basic statistics. ExxonMobil's Record-Setting Profits Continue. QuoteMedia. Oil and gas production, Exxon's largest business, posted a $6.1 billion operating profit, the highest in two years. This means that less money comes into the company and that less money is available to cover expenses and make its way down to the bottom line. The Center for American Progress is an independent nonpartisan policy institute that is dedicated to improving the lives of all Americans through bold, progressive ideas, as well as strong leadership and concerted action. Norwegian Cruise Line also boosted its full-year profit forecast amid strong travel demand. Those results came even with oil prices meaningfully lower and a drop in total revenue. The companys third-quarter results also speak to Exxons ongoing recovery following the pandemic. In addition to this, a company must make regular payments on its debt if it is to remain solvent. This may make it feel as though you are getting poorer and poorer with the passage of time, even if your portfolio does not actually go down in total value. A year earlier it earned $5.48 billion, or $1.28 per share. Then you can access your favorite statistics via the star in the header. Exxon Mobil Shares added 1% in the premarket after the oil giant reported a record first-quarter profit. At first glance, these results were mixed as the company failed to meet the expectations of its analysts in terms of top-line revenue, but it did beat earnings estimates. However both companies saw revenue slip compared to a year ago, as the two U.S. majors come off booming profits last year. In 2021 the company made a revenue of $285.64 B an increase over the View the latest XOM financial statements, income statements and financial ratios. This is something that we also saw in the, of other traditional energy companies that have reported, such as Pioneer Natural Resources (, It should be fairly obvious that this will reduce Exxon Mobils financial performance. Exxon Mobil The highest profit margin attained by XOM between 2012 and 2021 was 9.94%. In addition, all subscribers can read any of my work without a subscription to Seeking Alpha Premium! WebExxon Mobil Revenue (Quarterly YoY Growth) Revenue (Quarterly YoY Growth) Chart. This greatly reduces the appeal of the company as a dividend play in my eyes. } Our ideal holding period is forever, however we realize that both internal and external forces can impact an investment. It also continues to share its profits with shareholders giving investors good reason to consider putting the energy leader's stock in one's portfolio. According to Zacks Investment Research, Exxon Mobil will grow its earnings per share at a 21.38% rate over the next three to five years. HOUSTON, Feb 1 (Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company reported an operating cash flow of $16.341 billion in the most recent quarter. This can cause a companys interest expenses to increase following the rollover in certain market conditions. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Our aim is not just to change the conversation, but to change the country. According to data from the financial data company FactSet, the four most profitable quarterssince FactSet began collecting data in 2008for corporations on the S&P 500 happened in 2021. In the same quarter a year ago, Exxon posted an adjusted profit of 3 cents a share. Our Standards: The Thomson Reuters Trust Principles. Corporations such as AT&T, Charter Communications, American International Group (AIG), and Dow reported that they will pay negative effective federal income tax rates on their U.S. profits for 2021, effectively enjoying tax refunds instead. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. One of the first things that we notice is that Exxon Mobils revenue came down compared to the prior-year quarter. After all, lower energy prices mean that the company was forced to sell its products for less than it did during the prior-year quarter. var onSuccessSubmitenSubscribeFooter = function() { It is always critical that we do not overpay for any asset in our portfolios. Netflix, just outside the Fortune 100, paid a measly 1.1 percent on $5.3 billion of U.S. earnings. Chart. But there are good reasons for investors to own the stock before meaningful contributions come from the LCS segment. WebNet Income of EXXON MOBIL CORP during the year 2021 = $23.04 Billion. Exxon Mobil pointed this out in its earnings press release, although the company was specifically referring to profits and not revenue: Lower liquids and natural gas realizations coupled with the absence of favorable mark-to-market impacts on unsettled derivatives, fewer days in the quarter, and higher unscheduled maintenance negatively impacted results sequentially.. It also tells us how well a companys equity will cover its debt obligations in the event of a bankruptcy or liquidation event, which is arguably more important. Fortunately, there are some signs that energy prices could rise over the remainder of the year. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. But the energy company is also investing in other areas that it thinks can greatly contribute to its bottom line in the future. Making the world smarter, happier, and richer. However, this issue extends beyond the Fortune 100: Other large, notable companies pay similarly low rates. Its refining business posted fourth-quarter operating net of $1.4 billion, up sequentially and a big swing from a year ago when results were hurt by pandemic-related demand declines. In the first quarter of 2023, Exxon Mobil achieved a levered free cash flow of $8.7548 billion, which was unfortunately the lowest figure that it had since December 2021: (all figures in millions of U.S. dollars). After extensive research and analysis, Zippia's data science team found the following key financial metrics. Looking for a helping hand in the market? In addition to lowering its own greenhouse gas emissions, ExxonMobil announced a new partnership for carbon capture and storage with industrial gas company Linde earlier this month. For complete information regarding our financials and a reconciliation of GAAP to Non-GAAP results, see our periodic filings and financial results. Moreover, the Institute for Taxation and Economic Policy (ITEP) conducted a comprehensive analysis of federal taxes and company profits for a larger set of companies last year, concluding that former President Donald Trumps TCJA allowed many companies to pay $0 in taxes. Marc Jarsulic, Alexandra Thornton, Lilith Fellowes-Granda, Tom K. Wong, Ignacia Rodriguez Kmec, Diana Pliego, 4 More See here for a complete list of exchanges and delays. The income tax expense and pretax U.S. earnings data presented in this column come directly from the annual 10-K reports that the companies filed with the U.S. Securities and Exchange Commission (SEC) for fiscal years that ended during 2021. Entering text into the input field will update the search result below. Shares in midday trading went up 5% to $80.02, near a three-year high. For investors looking for income in the near term, and potential growth from its long-term investments, ExxonMobil could be a good fit for a portfolio. revenue, but it did beat earnings estimates. This is a clear sign that the recent market strength has not delivered any benefits to the energy sector, which has unfortunately been typical over the past several years. The usual way that we analyze a companys ability to afford its dividend is by looking at its free cash flow. Finally, the stock appears to be very reasonably priced today. Even with the charge for exiting Russia, net income doubled to $5.4 billion. The company believes its Low Carbon Solutions (LCS) segment can tap a huge new market for future profit growth. A more in-depth look tells a different story, however, as this was one of the best quarters that Exxon Mobil has ever reported. The company delivered both the highest net income in its history and fairly significant year-over-year production growth. 2015-2016, Total assets of Brazilian energy company Razen 2013-2019, Southwestern Energy's total assets 2009-2019, Brazil: total assets of ALE Combustveis 2013-2019, Anadarko Petroleum's total assets 2006-2018, Schlumberger Limited's total assets 2008-2022, Total assets of Aspen Pharmacare Holdings 2017-2021, Mitsui Fudosan's total assets FY 2012-2021, Madison Square Garden Company total assets 2012-2020, Total assets of ExxonMobil from 2001 to 2022 (in million U.S. dollars), Find your information in our database containing over 20,000 reports. The company completed the ramp-up of the Beaumont Refinery expansion, demonstrating 250,000 barrels per day of crude oil distillation capacity. The laws of economics state that this should cause crude oil prices to go up. In the case of an oil and gas supermajor like Exxon Mobil, we can value it using the price-to-earnings growth ratio. All values USD Millions. P.O. March 31, 2023. Data delayed Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Therefore, here are the highlights from Exxon Mobils first-quarter 2023 earnings report: One of the first things that we notice is that Exxon Mobils revenue came down compared to the prior-year quarter.