ExxonMobil reports Q4 2009 and full year financial earnings

ExxonMobil 2009 profits slide after record 2008 profits

The largest U.S. based oil company, and the most traded oil company in the world, ExxonMobil, today announced Q4 financial earnings, and full year 2009 earnings.

Exxon reported a material 23-percent decline in Q4 profits, compared to the same period last year. The company earned a $6.05-billion profit ($1.27 per share) in Q4 2009, compared to $7.82-billion YoY. Q4 2008revenue was $84.7-billion.

In fiscal 2009, Exxon reported reasonably strong profits of $19.42-billion. That figure is significantly less than fiscal 2008 profits, down over 50-percent from $45-billion in profits in 2008. The company was able to report its strongest year in 2008 because of record crude oil prices that peaked at $147 per barrel.

In 2009, most of the company’s profits came from its product and exploration division that earned a substantial $5.78-billion operating profit.

ExxonMobil chairman Rex Tillerson said in a statement today, “ExxonMobil delivered strong business results and built on our long-term focus,”

The company said capital and exploration spending was $27.1-billion in 2009.

Production in Q4 was also up 2-percent despite weakening demand for energy in this difficult economic time.

Exxon has been criticized for not doing enough to invest more in emerging eco-friendly technologies.

You can find consolidated 2009 reports and the Q4 conference call here.


tag TAGS: , ,
Short URL: http://business2press.com?p=4932
Recommended:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to peggy@business2press.com
checkmark
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
b2p
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo

StockFractions.com has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo

title

Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press