Exxon Mobil Corp Earnings Cheat Sheet: Profits Climb By Double Figures Again

S&P 500 (NYSE:SPY) component Exxon Mobil Corporation (NYSE:XOM) reported higher profit for the third quarter as revenue showed growth. ExxonMobil Corporation produces and sells crude oil, natural gas and petroleum products.

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Exxon Mobil Earnings Cheat Sheet for the Third Quarter

Results: Net income for Exxon Mobil Corporation rose to $10.33 billion ($2.13 per share) vs. $7.35 billion ($1.44 per share) in the same quarter a year earlier. This marks a rise of 40.5% from the year earlier quarter.

Revenue: Rose 35.7% to $125.33 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: XOM was about in line with expectations as the mean analyst estimate of $2.11 per share. It beat the average revenue estimate of $113.56 billion.

Quoting Management: “ExxonMobil’s results for the third quarter of 2011 reflect a continued commitment to operational integrity, disciplined investing and superior project execution. Third quarter earnings of $10.3 billion were up 41% from the third quarter of 2010, reflecting higher crude oil and natural gas realizations and improved refining margins. Earnings for the first nine months of 2011 were $31.7 billion, up 49% over the first nine months of 2010. In the third quarter, capital and exploration expenditures were $8.6 billion, and reached a record level of $26.7 billion for the first nine months of the year as we continue pursuing new opportunities to meet growing energy demand while supporting economic growth, including job creation. Oil-equivalent production decreased 4% compared to the third quarter of 2010. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was in line with 2010. The Corporation distributed over $7 billion to shareholders in the third quarter through dividends and share purchases to reduce shares outstanding.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 25.7%, with the biggest boost coming in the second quarter when revenue rose 35.8% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 41.3% and in the first quarter, the figure rose 69%.

The company topped expectations last quarter after falling short of forecasts in the second quarter with net income of $2.18 versus a mean estimate of net income of $2.35 per share.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from $2.29 per share to $2.08, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved down from $8.88 a share to $8.49 over the last ninety days.

Competitors to Watch: Chevron Corporation (NYSE:CVX), BP plc (NYSE:BP), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), TOTAL S.A. (NYSE:TOT), Suncor Energy Inc. (NYSE:SU), Repsol YPF, S.A. (REPYY), and Petroleo Brasileiro SA (NYSE:PBR).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)