We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Exxon Mobil Corporation’s (XOM - Free Report) third-quarter 2022 earnings per share of $4.45, excluding identified items, have beat the Zacks Consensus Estimate of $3.88 and improved from the year-ago profit of $1.58.
Total quarterly revenues of $112,070 million missed the Zacks Consensus Estimate of $115,188 million but jumped from the year-ago quarter’s $73,786 million.
The strong earnings have resulted from higher realized commodity prices and oil-equivalent production, and strong refining margins.
Exxon Mobil Corporation Price, Consensus and EPS Surprise
ExxonMobil has announced a fourth-quarter dividend of 91 cents per share, indicating an increase of 3.4% from the last paid dividend of 88 cents. The dividend is payable on Dec 9.
Operational Performance
Upstream
The segment of ExxonMobil has reported quarterly earnings of $12,419 million, improving from $3,951 million in the year-ago quarter. Higher commodity prices primarily drove the upside.
Operations in the United States recorded a profit of $3,110 million, skyrocketing from $869 million in the September-end quarter of 2021. The company reported a profit of $9,309 million from non-U.S. operations, improving from $3,082 million in the year-ago quarter.
Production: ExxonMobil’s total production averaged 3,716 thousand barrels of oil equivalent per day (MBoe/d), higher than 3,665 MBoe/d a year ago.
Liquid production increased to 2,389 thousand barrels per day (MBbls/d) from 2,313 MBbls/d in the prior-year quarter. The outperformance was owing to higher production, primarily in the United States and Canada. Yet, natural gas production was 7,963 million cubic feet per day (Mmcf/d), down from 8,110 Mmcf/d a year ago primarily due to lower output from the United States and Canada.
Price Realization: In the United States, ExxonMobil recorded crude price realization of $91.69 per barrel, significantly higher than the year-ago quarter’s $67.62. The same metric for non-U.S. operations rose to $91.42 per barrel from $64.89.
Natural gas prices in the United States were $8.38 per thousand cubic feet (Mcf), higher than the year-ago quarter’s $3.33. Also, in the non-U.S. section, the metric improved to $22.92 per Mcf from $9.03.
Energy Products
The segment of ExxonMobil has recorded a profit of $5,819 million, up from $529 million a year ago due to strong industry refining margins. Higher aromatics, marketing and trading margins also aided the segment.
Chemical Products
This unit of ExxonMobil has recorded an $812-million profit, down from $2,027 million in the year-ago quarter on lower volumes and margins from bottom-of-cycle conditions in the Asia Pacific, and weaker demand in Europe and North America.
Specialty Products
This unit of ExxonMobil has recorded a $762-million profit, down from earnings of $839 million in the year-ago quarter primarily due to the higher feed cost environment.
Financials
In the quarter under review, ExxonMobil generated a cash flow of $27,107 million from operations and asset divestments. The company’s capital and exploration spending were $5,728 million.
At the end of third-quarter 2022, ExxonMobil’s total cash and cash equivalents were $30,407 million, and long-term debt amounted to $39,246 million.
Zacks Rank & Other Stocks to Consider
ExxonMobil currently carries a Zacks Rank #2 (Buy).
Comstock Resources, Inc. (CRK - Free Report) is an independent energy company that acquires, develops, produces and explores oil and natural gas properties. CRK has a Zacks Style Score of A for Growth and B for Value.
Comstock Resources is scheduled to release third-quarter results on Nov 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at $1.15 per share, suggesting an increase from the prior-year reported figure.
The Williams Companies, Inc. (WMB - Free Report) is a premier energy infrastructure provider in North America. WMB’s board recently approved a share repurchase program worth $1.5 billion, highlighting its commitment to shareholders.
Williams is scheduled to report third-quarter results on Oct 31. The Zacks Consensus Estimate for WMB’s earnings is pegged at 44 cents per share, suggesting a significant increase from the prior-year reported figure.
SilverBow Resources (SBOW - Free Report) engages in the exploration, development and production of oil and natural gas properties. CRK has a Zacks Style Score of A for Value.
SilverBow is scheduled to release third-quarter earnings on Nov 2. The Zacks Consensus Estimate for SBOW’s earnings is pegged at $2.74 per share, suggesting an increase from the prior-year reported figure.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
ExxonMobil (XOM) Beats Q3 Earnings Estimates, Hikes Dividend
Exxon Mobil Corporation’s (XOM - Free Report) third-quarter 2022 earnings per share of $4.45, excluding identified items, have beat the Zacks Consensus Estimate of $3.88 and improved from the year-ago profit of $1.58.
Total quarterly revenues of $112,070 million missed the Zacks Consensus Estimate of $115,188 million but jumped from the year-ago quarter’s $73,786 million.
The strong earnings have resulted from higher realized commodity prices and oil-equivalent production, and strong refining margins.
Exxon Mobil Corporation Price, Consensus and EPS Surprise
Exxon Mobil Corporation price-consensus-eps-surprise-chart | Exxon Mobil Corporation Quote
Dividend Hike
ExxonMobil has announced a fourth-quarter dividend of 91 cents per share, indicating an increase of 3.4% from the last paid dividend of 88 cents. The dividend is payable on Dec 9.
Operational Performance
Upstream
The segment of ExxonMobil has reported quarterly earnings of $12,419 million, improving from $3,951 million in the year-ago quarter. Higher commodity prices primarily drove the upside.
Operations in the United States recorded a profit of $3,110 million, skyrocketing from $869 million in the September-end quarter of 2021. The company reported a profit of $9,309 million from non-U.S. operations, improving from $3,082 million in the year-ago quarter.
Production: ExxonMobil’s total production averaged 3,716 thousand barrels of oil equivalent per day (MBoe/d), higher than 3,665 MBoe/d a year ago.
Liquid production increased to 2,389 thousand barrels per day (MBbls/d) from 2,313 MBbls/d in the prior-year quarter. The outperformance was owing to higher production, primarily in the United States and Canada. Yet, natural gas production was 7,963 million cubic feet per day (Mmcf/d), down from 8,110 Mmcf/d a year ago primarily due to lower output from the United States and Canada.
Price Realization: In the United States, ExxonMobil recorded crude price realization of $91.69 per barrel, significantly higher than the year-ago quarter’s $67.62. The same metric for non-U.S. operations rose to $91.42 per barrel from $64.89.
Natural gas prices in the United States were $8.38 per thousand cubic feet (Mcf), higher than the year-ago quarter’s $3.33. Also, in the non-U.S. section, the metric improved to $22.92 per Mcf from $9.03.
Energy Products
The segment of ExxonMobil has recorded a profit of $5,819 million, up from $529 million a year ago due to strong industry refining margins. Higher aromatics, marketing and trading margins also aided the segment.
Chemical Products
This unit of ExxonMobil has recorded an $812-million profit, down from $2,027 million in the year-ago quarter on lower volumes and margins from bottom-of-cycle conditions in the Asia Pacific, and weaker demand in Europe and North America.
Specialty Products
This unit of ExxonMobil has recorded a $762-million profit, down from earnings of $839 million in the year-ago quarter primarily due to the higher feed cost environment.
Financials
In the quarter under review, ExxonMobil generated a cash flow of $27,107 million from operations and asset divestments. The company’s capital and exploration spending were $5,728 million.
At the end of third-quarter 2022, ExxonMobil’s total cash and cash equivalents were $30,407 million, and long-term debt amounted to $39,246 million.
Zacks Rank & Other Stocks to Consider
ExxonMobil currently carries a Zacks Rank #2 (Buy).
Investors interested in the energy sector might look at the following companies that presently flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Comstock Resources, Inc. (CRK - Free Report) is an independent energy company that acquires, develops, produces and explores oil and natural gas properties. CRK has a Zacks Style Score of A for Growth and B for Value.
Comstock Resources is scheduled to release third-quarter results on Nov 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at $1.15 per share, suggesting an increase from the prior-year reported figure.
The Williams Companies, Inc. (WMB - Free Report) is a premier energy infrastructure provider in North America. WMB’s board recently approved a share repurchase program worth $1.5 billion, highlighting its commitment to shareholders.
Williams is scheduled to report third-quarter results on Oct 31. The Zacks Consensus Estimate for WMB’s earnings is pegged at 44 cents per share, suggesting a significant increase from the prior-year reported figure.
SilverBow Resources (SBOW - Free Report) engages in the exploration, development and production of oil and natural gas properties. CRK has a Zacks Style Score of A for Value.
SilverBow is scheduled to release third-quarter earnings on Nov 2. The Zacks Consensus Estimate for SBOW’s earnings is pegged at $2.74 per share, suggesting an increase from the prior-year reported figure.