For the quarter, Exxon posted diluted earnings per share (EPS) of $2.20 on revenues of $115.17 billion. In the same period a year ago, the company reported EPS of $1.97 on revenues of $121.61 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $2.00 and $115.22 billion in revenues.
For the full year, the company posted EPS of $9.70 on revenues of $482.3 billion, compared with EPS of $8.42 on revenues of $486.43 billion in 2011. The consensus estimate called for EPS of $7.91 on revenues of $459.12 billion.
Production of both oil and natural gas was lower, both for the quarter and for the year. Upstream earnings rose in the United States during the quarter, but fell for the year. Outside the U.S., production fell both quarterly and annually.
What was higher were refining earnings. U.S. downstream earnings rose from $30 million in the fourth quarter of 2011 to $697 million in the 2012 fourth quarter. For the year, U.S. refining earnings rose from $2.27 billion to $3.58 billion. The growth was even better outside the United States.
The earnings announcement did not include guidance, but the consensus estimate for the first quarter calls for EPS of $1.99 on revenues of $114.94 billion. For the full year, EPS and revenues are estimated at $7.94 and $433.42 billion, respectively.
Exxon’s shares are up 0.6% in premarket trading, at $90.55 in a 52-week range of $77.13 to $93.67. Thomson Reuters had a consensus analyst price target of around $94.00 before today’s report.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
