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.

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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 [email protected]
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