Quarter Financial Highlights - ExxonMobil 3Q Highlights

Source: www.gulfoilandgas.com 10/26/2006, Location: North America

"ExxonMobil's third quarter earnings excluding special items were a record $10,490 million, up 26% from third quarter 2005. Earnings per share excluding special items were up 34% reflecting the impact of the continuing share purchase program. Higher crude oil and natural gas realizations and improved marketing and chemical margins were partly offset by lower refining margins. Net income for the third quarter was up 6% from 2005. Record net income of $29,250 million ($4.86 per share) for the first nine months of 2006, increased by 15% versus 2005.

ExxonMobil continued its active efforts to increase world energy supplies. In the first nine months of 2006, spending on capital and exploration projects was $14.8 billion, an increase of 20% over 2005. In the third quarter of 2006, the results of our continuing long-term investment program yielded an additional 270 thousand oil-equivalent barrels per day of production, a 7% increase over the third quarter of 2005.

The Corporation distributed a total of $8.9 billion to shareholders in the third quarter through dividends and share purchases to reduce shares outstanding, an increase of 30% or $2.1 billion versus 2005."

Highlights
  • Earnings excluding special items were a record $10,490 million, an increase of 26% or $2,190 million from the third quarter of 2005.
  • Net income was up 6%. There were no special items in third quarter 2006. Third quarter 2005 net income included a special gain of $1,620 million related to the restructuring of the Corporation's interest in the Dutch gas transportation business.
  • Spending on capital and exploration projects was $5.1 billion, an increase of 15% versus 2005.
  • Cash flow from operations and asset sales was approximately $15.4 billion, including asset sales of $0.8 billion.
  • Earnings per share excluding special items were $1.77, an increase of 34%, reflecting strong earnings and the reduction in the number of shares outstanding.
  • The multiphase Sakhalin-1 project offshore Russia was commissioned with oil production expected to ramp up to an estimated peak rate of 250,000 barrels a day (gross) by around the end of the year.
  • The Nigeria Erha North project started production within 30 months of discovery, and was on budget.
  • Transition to new U.S. ultra-low sulfur diesel was successfully completed.


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    Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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