Industryweek 3630 Exxon

ExxonMobil Profits Rise on Refining, Chemicals

Feb. 1, 2013
ExxonMobil said overall profits in the exploration and production division, normally the cash cow of oil majors, fell 12% to $7.8 billion compared with a year earlier.

ExxonMobil (IW 500/1) Friday reported higher fourth-quarter profits on better results in its refining and chemical divisions, which offset a drop in its exploration and production results.

ExxonMobil said net income for the fourth quarter came in at a $9.95 billion, up 6% from the year-earlier period of $9.4 billion.

The results overcame a 5% decline in ExxonMobil's oil-equivalent production compared with the year-earlier period.

ExxonMobil said overall profits in the exploration and production division, normally the cash cow of oil majors, fell 12% to $7.8 billion compared with a year earlier.

Profits from its refining and marketing division came in at $1.8 billion, more than four times the previous year's level. Chemical sector earnings of $958 billion were up 76.4%.

Per-share profits came in at $2.20, compared with analyst forecasts of $2. Total revenues came in at $115.2 billion, roughly matching forecasts.

Copyright Agence France-Presse, 2013

Popular Sponsored Recommendations

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Beat the odds. Optimize product costs. Mitigate supply chain issues.

Sept. 12, 2023
Leverage fact-based supplier negotiations. Enhance design. Get to market faster. Our comprehensive Should Cost Analysis guide shows you how.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!