ExxonMobil Earnings Reports

ExxonMobil reported a fourth quarter 2020 loss of $20.1 billion, which included $20.2 billion of unfavorable identified items. Excluding these items, earnings were $110 million, or $0.03 per share. The company exceeded its cost-reduction objectives and met its 2020 methane and flaring emission reduction targets.

ExxonMobil reported a third quarter 2020 loss of $680 million, or $0.15 per share assuming dilution. Third quarter capital and exploration expenditures were $4.1 billion. Oil-equivalent production was 3.7 million barrels per day, up 1 percent from the second quarter of 2020.

ExxonMobil reported a second quarter 2020 loss of $1.1 billion, or $0.26 per share assuming dilution, driven by the global pandemic and oversupply conditions. The results included a positive noncash inventory valuation adjustment of $1.9 billion. Capital and exploration expenditures were $5.3 billion. Oil-equivalent production was 3.6 million barrels per day, down 7 percent from the second quarter of 2019.

ExxonMobil reported a first quarter loss of $610 million, driven by a $2.9 billion noncash charge from market-related write-downs. The company is reducing 2020 capital and operating spend to manage unprecedented market challenges. Oil-equivalent production was 4 million barrels per day, up 2% from the first quarter of 2019.

ExxonMobil reported Q4 2019 earnings of $5.7 billion, or $1.33 per share, which included a $3.7 billion gain from the Norway upstream divestment. Liquids production increased, driven by the Permian Basin, while downstream and chemical businesses were impacted by short-term supply length.