Irving, TX-based ExxonMobil Corporation XOM is the world’s largest publicly traded oil company, engaged in oil and natural gas exploration and production, petroleum products refining and marketing, chemicals manufacture, and other energy-related businesses. The company divides its operations into three segments: Upstream, Downstream and Chemicals.
Currently, ExxonMobil has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. Coming to earnings surprise history, the company has a track record of delivering positive earnings surprises. It has beaten estimates in three of the last four quarters at an average rate of 13.63%.
We have highlighted some of the key quarterly details from the just-released announcement below:
Earnings: ExxonMobil beats on earnings. Earnings per share came in at 43 cents, above the Zacks Consensus Estimate of 28 cents.
Revenue: Revenues above expectations. Revenues of $48,707 million were higher than the Zacks Consensus Estimate of $48,137 million.
Key Stats: Production averaged 4.325 million barrels of oil-equivalent per day (MMBOE/d), up 1.8% year over year. Liquid production increased 11.5% year over year to 2.538 million barrels per day. Natural gas production was 10,724 MCF/d (millions of cubic feet per day), down 1,104 MCF/d from the year-ago period.
ExxonMobil's refinery throughput averaged 4.2 million barrels per day (MMBPD), down 7.9% from the year-earlier level.
Check back later for our full write up on this ExxonMobil’s earnings report later!
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