Exxon Mobil reported second-quarter earnings on Friday that declined considerably in comparison with final yr, although the corporate beat Wall Road estimates as manufacturing progress softened the affect of decrease oil costs.
Exxon’s internet earnings fell 23% to $7.1 billion, of $1.64 per share, in comparison with $9.2 billion, or $2.14 per share, in the identical interval final yr.
Here’s what Exxon reported for the second quarter in contrast with what Wall Road was anticipating, based mostly on a survey of analysts by LSEG:
- Earnings per share: $1.64 vs. $1.54 anticipated
- Income: $81.5 billion vs. $80.77 billion anticipated
The oil main pumped 4.6 million barrels per day within the second quarter, the very best output since Exxon and Mobil merged greater than 25 years in the past. Manufacturing within the Permian Basin hit a document 1.6 million bpd.
Exxon’s manufacturing enterprise posited a revenue of $5.4 billion, down 23% from about $7.1 billion in the identical interval final yr on decrease oil costs. Its refining enterprise booked earnings of $1.37 billion globally, up 44% in comparison with $946 million within the year-ago interval as a consequence of increased refining margins.
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