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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Exxon Mobil Corp | NYSE:XOM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.17 | -0.14% | 120.86 | 121.255 | 119.39 | 120.30 | 12,132,894 | 00:59:47 |
From Apr 2021 to Apr 2024
By Michael Dabaie
Exxon Mobil Corp. reported first-quarter earnings of $2.7 billion, turning around a loss of $610 million in the first quarter of 2020.
On commodity prices:
"The strong first-quarter results reflect the benefits of higher commodity prices and our focus on structural cost reductions, while prioritizing investments in assets with a low cost of supply," said Darren Woods, chairman and chief executive.
On severe winter weather in Texas:
The severe weather event reduced first-quarter earnings by nearly $600 million across all businesses from decreased production and lower sales volumes, repair costs, and the net impact of energy purchases and sales.
On upstream results:
Total production volumes increased 98,000 oil-equivalent barrels per day from the fourth quarter.
Natural gas volumes increased 12% driven by higher seasonal demand in Europe.
On downstream results:
Industry fuels margins improved from the fourth quarter, but remained below 10-year-lows driven by market oversupply and high product inventory levels.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
April 30, 2021 11:10 ET (15:10 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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