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 #2 (Buy) but that could change following its second 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 15.46%.
EXXON MOBIL CRP Price and EPS Surprise
EXXON MOBIL CRP Price and EPS Surprise | EXXON MOBIL CRP Quote
We have highlighted some of the key quarterly details from the just-released announcement below:
Earnings: ExxonMobil misses on earnings. Earnings per share came in at 41 cents, below the Zacks Consensus Estimate of 64 cents.
Revenue: Revenues below expectations. Revenues of $57,694 million were lower than the Zacks Consensus Estimate of $59,834 million.
Key Stats: Production averaged 3.957 million barrels of oil-equivalent per day (MMBOE/d), down 0.6% year over year. Liquid production increased 1.7% year over year to 2.330 million barrels per day. Natural gas production was 9,762 MCF/d (millions of cubic feet per day), down 3.6% from the year-ago period.
ExxonMobil's refinery throughput averaged 4.2 million barrels per day (MMBPD), down 4.1% from the year-earlier level.
Check back later for our full write up on this ExxonMobil’s earnings report later!
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