Exxon Mobil’s Quarterly Profit Again Tops $10 Billion

[Superlative]

The company reported net income of $10.26 billion for the second quarter, down 1 percent from $10.36 billion in the period a year earlier. Exxon has had quarterly profits of more than $10 billion for five of the last seven quarters.

http://www.nytimes.com/2007/07/27/business/27oil.html


Nothing new here.

 

[waltky]

And the CEO gets an 8% raise...

Exxon CEO's compensation rises 8 percent to $27.2M
Apr 12,`13 -- Exxon Mobil Corp. gave its CEO $27.2 million in total compensation last year, an 8 percent increase as the oil giant posted its second-highest profit ever.

Most of Rex W. Tillerson's compensation came in the form of stock awards - the company valued them at $19.6 million on the day they were granted. An Associated Press analysis of Tillerson's compensation considered salary, bonus, perks and the estimated value of stock and option grants. It did not count changes in the present value of Tillerson's pension benefits, which makes the AP total much smaller than the $40.3 million that Exxon Mobil reported on Friday to the U.S. Securities and Exchange Commission.

Tillerson, 61, received a salary of nearly $2.6 million, a cash bonus of nearly $4.6 million, the stock awards, and other compensation valued at $447,425. The biggest items in the "other compensation" category were $179,690 for matching contributions to Tillerson's 401(k) plan and $112,706 for personal security. Tillerson is also chairman of Irving, Texas-based Exxon Mobil, the largest U.S. oil company, which he has led since 2006. Last year, the company earned $44.88 billion in net income, an increase of 9 percent over 2011 and its second-best year ever behind its $45.22 billion profit in 2008. In 2012, like 2008, the company was helped by high oil prices.

Exxon Mobil's stock failed to keep pace with those lofty returns. The shares rose 2.1 percent in 2012, slightly better than the 1.6 percent gain for rival Chevron Corp. but far below the gains registered by the Dow Jones industrial average and the Standard & Poor's 500 index. Exxon has oil operations around the globe and became the largest producer of natural gas in the United States with the 2010 purchase of XTO Energy. Last month, the company predicted that its oil and gas production would fall 1 percent this year after a 6 percent decline in 2012, then begin to rise in later years as new projects start up. Some of them are controversial, including expansion of Exxon's Kearl oil sands operation in Alberta, Canada, and exploration in the Russian Arctic.

Closer to home, the company is dealing with an oil spill in Arkansas caused by the rupture of a crude oil pipeline. Also Friday, the company announced that its annual meeting will be May 29 in Dallas. Shareholders will also vote on a series of resolutions including separating the jobs of chairman and CEO, disclosing more details about Exxon's spending on lobbying, and explicitly prohibiting discrimination against gays. The board recommended that shareholders reject all the resolutions, some of which have come up for votes before. On the discrimination item, the board said Exxon already prohibits "all forms of discrimination, including those based on sexual orientation."

Source

 

[editec]

The company reported net income of $10.26 billion for the second quarter, down 1 percent from $10.36 billion in the period a year earlier. Exxon has had quarterly profits of more than $10 billion for five of the last seven quarters.

http://www.nytimes.com/2007/07/27/business/27oil.html


Nothing new here.

I am informed that EXXON's profits in 2012 were about $15.8 Billion.

Obviously one of us (maybe both of us) has been misinformed.

But I suspect we can both agree that EXXON is doing rather well, eh?

 

[LogikAndReazon]

Their profit margins must be extraordinary............lol

 

[Mr. H.]

Big whoopee. If companies such as Exxon weren't doing well, or were prevented from "doing well" then demand would soon outstrip supply and we'd all be up shit crick.

 

[boedicca]

Their profit margins must be extraordinary............lol

Not really...especially considering how capital intensive oil and gas is. Others have Much Higher Profit Margins, yet are not demonized by whackjob moonbats.

Profit Margins by Industry

1 Network and Other Communications Equipment 20.4
2 Internet Services and Retailing 19.4
3 Pharmaceuticals 19.3
4 Medical Products and Equipment 16.3
5 Railroads 12.6
6 Financial Data Services 11.7
7 Mining, Crude-Oil production 11.5
8 Securities 10.7
9 Oil and Gas Equipment, Services 10.2
10 Scientific, Photographic, and Control Equipment 9.9
11 Household and Personal Products 8.7
12 Utilities: Gas and Electric 8.7
13 Aerospace and Defense 7.6
14 Food Services 7.1
15 Industrial Machinery 6.9
16 Food Consumer Products 6.7
17 Electronics, Electrical Equipment 6.5
18 Commercial Banks 5.2
19 Telecommunications 5.1
20 Chemicals 5.0
21 Construction and Farm Machinery 5.0
22 Insurance: Life, Health (stock) 4.6
23 Information Technology Services 4.5
24 Computers, Office Equipment 4.3
25 Metals 3.9
26 Wholesalers: Diversified 3.5
27 Insurance: Property and Casualty (stock) 3.3
28 Specialty Retailers 3.2
29 General Merchandisers 3.2
30 Health Care: Pharmacy and Other Services 3.0
31 Packaging, Containers 3.0
32 Beverages 2.9
33 Engineering, Construction 2.7
34 Health Care: Medical Facilities 2.4
35 Health Care: Insurance and Managed Care 2.2
36 Petroleum Refining 2.1
37 Food and Drug Stores 1.5...

Fortune 500 2009: Top Performers - Most Profitable Industries: Return on Revenues

 

[hjmick]

Cool. A six year old, one post thread resurrected!

 

[Two Thumbs]

07-28-2007, 08:11 PM

[ame=http://www.youtube.com/watch?v=UPw-3e_pzqU]Just when I thought I was out...they pull me back in. - YouTube[/ame]



suckers

 

[boedicca]

Waltky has his knickers in a twist because the XOM CEO received an 8% raise for delivering record profits.

If he doesn't like it, then he shouldn't buy their products.

 

[CrusaderFrank]

The company reported net income of $10.26 billion for the second quarter, down 1 percent from $10.36 billion in the period a year earlier. Exxon has had quarterly profits of more than $10 billion for five of the last seven quarters.

http://www.nytimes.com/2007/07/27/business/27oil.html


Nothing new here.

Do you have any idea at all how quickly your boy Obama spends $10 Billion?

 

[Mr. H.]

It's almost as big as Apple!

 

[Dugdale_Jukes]

Their profit margins must be extraordinary............lol

Not really...especially considering how capital intensive oil and gas is. Others have Much Higher Profit Margins, yet are not demonized by whackjob moonbats.

Profit Margins by Industry

1 Network and Other Communications Equipment 20.4
2 Internet Services and Retailing 19.4
3 Pharmaceuticals 19.3
4 Medical Products and Equipment 16.3
5 Railroads 12.6
6 Financial Data Services 11.7
7 Mining, Crude-Oil production 11.5
8 Securities 10.7
9 Oil and Gas Equipment, Services 10.2
10 Scientific, Photographic, and Control Equipment 9.9
11 Household and Personal Products 8.7
12 Utilities: Gas and Electric 8.7
13 Aerospace and Defense 7.6
14 Food Services 7.1
15 Industrial Machinery 6.9
16 Food Consumer Products 6.7
17 Electronics, Electrical Equipment 6.5
18 Commercial Banks 5.2
19 Telecommunications 5.1
20 Chemicals 5.0
21 Construction and Farm Machinery 5.0
22 Insurance: Life, Health (stock) 4.6
23 Information Technology Services 4.5
24 Computers, Office Equipment 4.3
25 Metals 3.9
26 Wholesalers: Diversified 3.5
27 Insurance: Property and Casualty (stock) 3.3
28 Specialty Retailers 3.2
29 General Merchandisers 3.2
30 Health Care: Pharmacy and Other Services 3.0
31 Packaging, Containers 3.0
32 Beverages 2.9
33 Engineering, Construction 2.7
34 Health Care: Medical Facilities 2.4
35 Health Care: Insurance and Managed Care 2.2
36 Petroleum Refining 2.1
37 Food and Drug Stores 1.5...

Anyone working in those industries at a level with visibility into operations costs PLUS indirect costs knows how much fat is built into those numbers.

Don't shed any tears for the top 20.

Before some lowlife cocksucker calls me a communist, no one posting here is going to change the system and my check isn't going to be turned back in because of my sympathy for the human cattle who voted for Reagan and Clinton and Junebug, the people who made these accounting travesties possible and sustain them by voting against their own interests every other year.

Last week one of the VPs suggested my attitude wasn't what they are looking for. I told him if they could have found a younger man to fix the problems here they sure as hell wouldn't be paying me what they are. When they showed me the first offer I laughed. A Lebanese on the phone from Switzerland ended the mystery by saying, sign him for a year. Early lessons taking care of #1 against the corporate scum of the earth were at HNG. Some here might remember Ken Lay's launch pad.

The year is up June 1. Told the VP negotiating if my attitude doesn't work get someone else. Am back for another year, only I can quit with two weeks notice now for no reason with zero risk to performance bonuses. These people wanted hardball. Now they got it. It tickles me the sheer number of engineers, etc. working for maybe 50% of my pay and thinking one day they will rule the world.

Uh, no, sport. Anyone that stupid will be lucky to manage a plant.

 

[Jarlaxle]

I'm glad they made a profit and I hope they keep making money...I have Exxon-Mobil stock in my 401k.

 

[CrusaderFrank]

Obama budget 3.8x10^12/ 10 billion (lol) = under a day

Obama spends Exxons entire quarterly profit in 23 hours

 

[depotoo]

January 23, 2013—Apple® today announced financial results for its 13-week fiscal 2013 first quarter ended December 29, 2012. The Company posted record quarterly revenue of $54.5 billion and record quarterly net profit of $13.1 billion,

Amazing! Apple beat them!

Apple - Press Info - Apple Reports Record Results

Earnings per share (excluding items) came in at $0.44 versus analysts' estimates of $0.43. Revenue came in at $39.3 billion versus analysts' estimates of $38.74 billion.

GE Revenue and Profit Beat Estimates