Exxon Mobil (NYSE:XOM) earnings for the oil and gas company’s fourth quarter of 2019 have XOM stock down on Friday. That’s due to the company’s adjusted earnings per share of 41 cents. This is below Wall Street’s estimate of 43 cents for the quarter. Revenue of $67.17 billion is above analysts’ estimates of $64.17 billion, but couldn’t save XOM stock.
Here’s what else is worth mentioning from the most recent Exxon Mobil earnings report.
- Adjusted EPS is down 70.92% from $1.41 in the fourth quarter of 2018.
- Revenue comes in 6.58% lower than the $71.90 billion from the same time last year.
- The Exxon Mobile earnings report also includes a net income of $5.73 billion.
- This is 7.73% worse than the company’s net income of $6.21 billion from the same period of the year prior.
- The company notes that oil-equivalent production was the same as last year at 4 million barrels per day.
Darren Woods, Chairman and CEO of Exxon Mobil, says this about the XOM stock earnings report.
“Our operations performed well, while short-term supply length in the downstream and chemicals businesses impacted margins and financial results. Growth in demand for the products that underpin our businesses remains strong. We remain focused on improving our base businesses, driving efficiencies, and optimizing the value of our investment portfolio.”
Exxon Mobil will have to work hard to meet Wall Street’s estimates for fiscal 2020. This includes analysts’ estimates of $3.58 per share and revenue of $274.63 billion.
XOM stock was down 4.27% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.