Irving, TX-based ExxonMobil CorporationXOM 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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