IRVING, Texas--(BUSINESS WIRE)--Oct 28, 2022--
Exxon Mobil Corporation (NYSE:XOM):Results Summary
3Q22
2Q22
Change
vs
2Q22
3Q21
Change
vs
3Q21
Dollars in millions (except per share data)
YTD
2022
YTD
2021
Change
vs
YTD 2021
19,660
17,850
+1,810
6,750
+12,910
Earnings (U.S. GAAP)
42,990
14,170
+28,820
18,682
17,551
+1,131
6,755
+11,927
Earnings Excluding Identified Items
45,066
14,218
+30,848
4.68
4.21
+0.47
1.57
+3.11
Earnings Per Common Share ²
10.17
3.31
+6.86
4.45
4.14
+0.31
1.58
+2.87
Earnings Excl. Identified Items Per Common Share ²
10.66
3.33
+7.33
5,728
4,609
+1,119
3,851
+1,877
Capital and Exploration Expenditures
15,241
10,787
+4,454
Exxon Mobil Corporation today announced third-quarter 2022 earnings of $19.7 billion, or $4.68 per share assuming dilution. Third-quarter results included net favorable identified items of nearly $1 billion associated with the completion of the XTO Energy Canada and Romania Upstream affiliate divestments and one-time benefits from tax and other reserve adjustments, partly offset by impairments. Capital and exploration expenditures were $5.7 billion in the third quarter, bringing year-to-date 2022 investments to $15.2 billion, on track with full-year guidance of $21 billion to $24 billion.
“Our strong third-quarter results reflect the hard work of our people to invest in and build businesses critical to meeting the demand we see today,” commented Darren Woods, chairman and chief executive officer. "We all understand how important our role is in producing the energy and products the world needs, and third-quarter results reflect our commitment to that objective."
“The investments we've made, even through the pandemic, enabled us to increase production to address the needs of consumers. Rigorous cost control and growth of higher-margin petroleum and chemical products also contributed to earnings and cash flow growth in the quarter. At the same time, we are expanding our Low Carbon Solutions business with the signing of the largest-of-its-kind customer contract to capture and permanently store carbon dioxide, demonstrating our ability to offer competitive emission-reduction services to large industrial customers around the world,” concluded Woods.
¹ Best-ever quarterly refining throughput in North America and highest globally since 2008, both based on current refinery circuit
² Assuming dilution
Financial Highlights
Leading the Drive to Net Zero
Carbon Capture and Storage
Biofuels and Hydrogen
1 Estimates based on United States Environmental Protection Agency Greenhouse Gas Equivalencies Calculator
EARNINGS AND VOLUME SUMMARY BY SEGMENT
Upstream
3Q22
2Q22
3Q21
Dollars in millions (unless otherwise noted)
YTD 2022
YTD 2021
Earnings/(Loss) (U.S. GAAP)
3,110
3,749
869
United States
9,235
1,895
9,309
7,622
3,082
Non-U.S.
19,043
7,795
12,419
11,371
3,951
Worldwide
28,278
9,690
Earnings/(Loss) Excluding Identified Items
3,110
3,450
869
United States
8,936
1,895
8,731
7,622
3,082
Non-U.S.
21,720
7,795
11,841
11,072
3,951
Worldwide
30,656
9,690
3,716
3,732
3,665
Production (koebd)
3,708
3,677
Energy Products
3Q22
2Q22
3Q21
Dollars in millions (unless otherwise noted)
YTD 2022
YTD 2021
Earnings/(Loss) (U.S. GAAP)
3,008
2,655
479
United States
6,152
(31)
2,811
2,617
50
Non-U.S.
4,744
(1,217)
5,819
5,273
529
Worldwide
10,896
(1,248)
Earnings/(Loss) Excluding Identified Items
3,008
2,655
479
United States
6,152
(31)
2,811
2,617
50
Non-U.S.
4,744
(1,217)
5,819
5,273
529
Worldwide
10,896
(1,248)
5,537
5,310
5,302
Energy Products Sales (kbd)
5,321
5,049
1 Best ever quarterly refining throughput in North America and highest globally since 2008, both based on current refinery circuit
Chemical Products
3Q22
2Q22
3Q21
Dollars in millions (unless otherwise noted)
YTD 2022
YTD 2021
Earnings/(Loss) (U.S. GAAP)
635
625
1,121
United States
2,030
2,923
177
450
907
Non-U.S.
1,263
2,695
812
1,076
2,027
Worldwide
3,293
5,618
Earnings/(Loss) Excluding Identified Items
635
625
1,121
United States
2,030
2,923
177
450
907
Non-U.S.
1,263
2,695
812
1,076
2,027
Worldwide
3,293
5,618
4,680
4,811
4,814
Chemical Products Sales (kt)
14,509
14,309
Specialty Products
3Q22
2Q22
3Q21
Dollars in millions (unless otherwise noted)
YTD 2022
YTD 2021
Earnings/(Loss) (U.S. GAAP)
306
232
247
United States
784
689
456
185
592
Non-U.S.
871
1,454
762
417
839
Worldwide
1,655
2,143
Earnings/(Loss) Excluding Identified Items
306
232
247
United States
784
689
456
185
592
Non-U.S.
871
1,454
762
417
839
Worldwide
1,655
2,143
1,917
2,100
1,896
Specialty Products Sales (kt)
6,024
5,832
Corporate and Financing
3Q22
2Q22
3Q21
Dollars in millions (unless otherwise noted)
YTD 2022
YTD 2021
(152)
(286)
(596)
Earnings/(Loss) (U.S. GAAP)
(1,132)
(2,033)
(552)
(286)
(591)
Earnings/(Loss) Excluding Identified Items
(1,434)
(1,985)
CASH FLOW FROM OPERATIONS AND ASSET SALES EXCLUDING WORKING CAPITAL
3Q22
2Q22
3Q21
Dollars in millions
YTD 2022
YTD 2021
20,198
18,574
6,942
Net income/(loss) including noncontrolling interests
44,522
14,519
5,642
4,451
4,990
Depreciation and depletion (includes impairments)
18,976
14,946
1,667
(2,747)
659
Changes in operational working capital
6
2,232
(3,082)
(315)
(500)
Other
(4,328)
(692)
24,425
19,963
12,091
Cash Flow from Operating Activities (U.S. GAAP)
59,176
31,005
2,682
939
18
Proceeds associated with asset sales
3,914
575
27,107
20,902
12,109
Cash Flow from Operations and Asset Sales
63,090
31,580
(1,667)
2,747
(659)
Changes in operational working capital
(6)
(2,232)
25,440
23,649
11,450
Cash Flow from Operations and Asset Sales excluding Working Capital
63,084
29,348
FREE CASH FLOW
3Q22
2Q22
3Q21
Dollars in millions
YTD 2022
YTD 2021
24,425
19,963
12,091
Cash Flow from Operating Activities (U.S. GAAP)
59,176
31,005
(4,876)
(3,837)
(2,840)
Additions to property, plant and equipment
(12,624)
(7,987)
(272)
(226)
(442)
Additional investments and advances
(915)
(1,055)
88
60
210
Other investing activities including collection of advances
238
342
2,682
939
18
Proceeds from asset sales and returns of investments
3,914
575
22,047
16,899
9,037
Free Cash Flow
49,789
22,880
ExxonMobil will discuss financial and operating results and other matters during a webcast at 7:30 a.m. Central Time on October 28, 2022. To listen to the event or access an archived replay, please visit www.exxonmobil.com.
Cautionary Statement
Outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions in this release, are forward-looking statements. Similarly, discussion of future carbon capture, biofuel and hydrogen plans to drive towards net zero emissions are dependent on future market factors, such as continued technological progress and policy support, and represent forward-looking statements. Actual future results, including financial and operating performance; total capital expenditures and mix, including allocations of capital to low carbon solutions; cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; timing and outcome of projects to capture and store CO 2, and produced biofuels; timing and outcome of hydrogen projects; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; and resource recoveries and production rates could differ materially due to a number of factors. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market conditions that impact prices and differentials for our products; government policies supporting lower carbon investment opportunities such as the U.S. Inflation Reduction Act or policies limiting the attractiveness of future investment such as the European Solidarity Tax; variable impacts of trading activities on our margins and results each quarter; actions of competitors and commercial counterparties; the outcome of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts of COVID-19, including the effects of government responses on people and economies; reservoir performance, including variability and timing factors applicable to unconventional resources; the outcome of exploration projects and decisions to invest in future reserves; timely completion of development and other construction projects; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; changes in law, taxes, or regulation including environmental regulations, trade sanctions, and timely granting of governmental permits and certifications; government policies and support and market demand for low carbon technologies; war, and other political or security disturbances; expropriations, seizure, or capacity, insurance or shipping limitations by foreign governments or laws; opportunities for potential investments or divestments and satisfaction of applicable conditions to closing, including regulatory approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies; unforeseen technical or operating difficulties and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Risk Factors of ExxonMobil’s 2021 Form 10-K.
Forward-looking and other statements regarding our environmental, social and other sustainability efforts and aspirations are not an indication that these statements are necessarily material to investors or requiring disclosure in our filing with the SEC. In addition, historical, current, and forward-looking environmental, social and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future rule-making.
Frequently Used Terms and Non-GAAP Measures
This press release includes cash flow from operations and asset sales. Because of the regular nature of our asset management and divestment program, the company believes it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities for 2021 and 2022 periods is shown on page 7.
This press release also includes cash flow from operations and asset sales excluding working capital. The company believes it is useful for investors to consider these numbers in comparing the underlying performance of the company's business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities for 2021 and 2022 periods is shown on page 7.
This press release also includes earnings/(loss) excluding identified items, which are earnings/(loss) excluding individually significant non-operational events with an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings/(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several periods or several segments. Earnings/(loss) excluding identified items does include non-operational earnings events or impacts that are below the $250 million threshold utilized for identified items. When the effect of these events is material in aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. Earnings excluding identified items is not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. A reconciliation to earnings is shown for 2022 and 2021 periods in Attachments II-a and II-b. Corresponding per share amounts are shown on page 1 and in Attachment II-a, including a reconciliation to earnings/(loss) per common share – assuming dilution (U.S. GAAP).
This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the Corporation’s products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (“sales-based taxes”). It combines “Income taxes” and “Total other taxes and duties” with sales-based taxes, which are reported net in the income statement. The company believes it is useful for the Corporation and its investors to understand the total tax burden imposed on the Corporation’s products and earnings. A reconciliation to total taxes is shown in Attachment I-a.
This press release also references free cash flow. Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. Free cash flow is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities. A reconciliation to net cash provided by operating activities for 2021 and 2022 periods is shown on page 7.
References to the resource base and other quantities of oil, natural gas or condensate may include estimated amounts that are not yet classified as “proved reserves” under SEC definitions, but which are expected to be ultimately recoverable. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K filed the same day as this news release. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
Reference to Earnings
References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Energy Products, Chemical Products, Specialty Products and Corporate and Financing segment earnings, and earnings per share are ExxonMobil’s share after excluding amounts attributable to noncontrolling interests.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs.
Throughout this press release, both Exhibit 99.1 as well as Exhibit 99.2, due to rounding, numbers presented may not add up precisely to the totals indicated.
ATTACHMENT I-a
CONDENSED CONSOLIDATED STATEMENT OF INCOME
(Preliminary)
Three Months Ended
September 30,
Nine Months Ended
September 30,
Dollars in millions (unless otherwise noted)
2022
2021
2022
2021
Revenues and other income
Sales and other operating revenue
106,512
71,892
305,511
195,387
Income from equity affiliates
4,632
1,670
10,858
4,579
Other income
926
224
1,882
709
Total revenues and other income
112,070
73,786
318,251
200,675
Costs and other deductions
Crude oil and product purchases
60,197
39,745
178,198
109,675
Production and manufacturing expenses
11,317
8,719
32,244
25,252
Selling, general and administrative expenses
2,324
2,287
7,263
7,060
Depreciation and depletion (includes impairments)
5,642
4,990
18,976
14,946
Exploration expenses, including dry holes
218
190
677
530
Non-service pension and postretirement benefit expense
154
146
382
686
Interest expense
209
214
591
726
Other taxes and duties
6,587
7,889
21,009
22,295
Total costs and other deductions
86,648
64,180
259,340
181,170
Income/(Loss) before income taxes
25,422
9,606
58,911
19,505
Income tax expense/(benefit)
5,224
2,664
14,389
4,986
Net income/(loss) including noncontrolling interests
20,198
6,942
44,522
14,519
Net income/(loss) attributable to noncontrolling interests
538
192
1,532
349
Net income/(loss) attributable to ExxonMobil
19,660
6,750
42,990
14,170
OTHER FINANCIAL DATA
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022
2021
2022
2021
Earnings per common share (U.S. dollars)
4.68
1.57
10.17
3.31
Earnings per common share - assuming dilution (U.S. dollars)
4.68
1.57
10.17
3.31
Dividends on common stock
Total
3,685
3,720
11,172
11,161
Per common share (U.S. dollars)
0.88
0.87
2.64
2.61
Millions of common shares outstanding
Average - assuming dilution
4,185
4,276
4,227
4,275
Income taxes
5,224
2,664
14,389
4,986
Total other taxes and duties
7,473
8,572
23,701
24,296
Total taxes
12,697
11,236
38,090
29,282
Sales-based taxes
6,364
5,775
19,321
15,885
Total taxes including sales-based taxes
19,061
17,011
57,411
45,167
ExxonMobil share of income taxes of equity companies
2,902
713
6,082
1,838
ATTACHMENT I-b
CONDENSED CONSOLIDATED BALANCE SHEET
(Preliminary)
Dollars in millions (unless otherwise noted)
September 30,
2022
December 31,
2021
ASSETS
Current assets
Cash and cash equivalents
30,407
6,802
Cash and cash equivalents - restricted
57
—
Notes and accounts receivable – net
42,411
32,383
Inventories
Crude oil, products and merchandise
20,078
14,519
Materials and supplies
4,018
4,261
Other current assets
2,318
1,189
Total current assets
99,289
59,154
Investments, advances and long-term receivables
50,235
45,195
Property, plant and equipment – net
203,102
216,552
Other assets, including intangibles – net
17,526
18,022
Total Assets
370,152
338,923
LIABILITIES
Current liabilities
Notes and loans payable
6,182
4,276
Accounts payable and accrued liabilities
62,550
50,766
Income taxes payable
5,325
1,601
Total current liabilities
74,057
56,643
Long-term debt
39,246
43,428
Postretirement benefits reserves
16,799
18,430
Deferred income tax liabilities
21,274
20,165
Long-term obligations to equity companies
2,647
2,857
Other long-term obligations
23,086
21,717
Total Liabilities
177,109
163,240
EQUITY
Common stock without par value
(9,000 million shares authorized, 8,019 million shares issued)
16,106
15,746
Earnings reinvested
423,877
392,059
Accumulated other comprehensive income
(17,803)
(13,764)
Common stock held in treasury
(3,901 million shares at September 30, 2022, and 3,780 million shares at December 31, 2021)
(236,080)
(225,464)
ExxonMobil share of equity
186,100
168,577
Noncontrolling interests
6,943
7,106
Total Equity
193,043
175,683
Total Liabilities and Equity
370,152
338,923
ATTACHMENT I-c
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Preliminary)
Nine Months Ended
September 30,
Dollars in millions (unless otherwise noted)
2022
2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income/(loss) including noncontrolling interests
44,522
14,519
Depreciation and depletion (includes impairments)
18,976
14,946
Changes in operational working capital, excluding cash and debt
6
2,232
All other items – net
(4,328)
(692)
Net cash provided by operating activities
59,176
31,005
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment
(12,624)
(7,987)
Proceeds from asset sales and returns of investments
3,914
575
Additional investments and advances
(915)
(1,055)
Other investing activities including collection of advances
238
342
Net cash used in investing activities
(9,387)
(8,125)
CASH FLOWS FROM FINANCING ACTIVITIES
Additions to long-term debt
55
46
Reductions in long-term debt
—
(4)
Additions to short-term debt
—
12,197
Reductions in short-term debt
(3,895)
(24,066)
Additions/(Reductions) in debt with three months or less maturity
1,638
997
Contingent consideration payments
(58)
(28)
Cash dividends to ExxonMobil shareholders
(11,172)
(11,161)
Cash dividends to noncontrolling interests
(191)
(166)
Changes in noncontrolling interests
(1,074)
(278)
Common stock acquired
(10,480)
(1)
Net cash used in financing activities
(25,177)
(22,464)
Effects of exchange rate changes on cash
(950)
(12)
Increase/(Decrease) in cash and cash equivalents
23,662
404
Cash and cash equivalents at beginning of period
6,802
4,364
Cash and cash equivalents at end of period
30,464
4,768
ATTACHMENT II-a
KEY FIGURES: IDENTIFIED ITEMS
3Q22
2Q22
3Q21
Dollars in Millions
YTD 2022
YTD 2021
19,660
17,850
6,750
Earnings/(Loss) (U.S. GAAP)
42,990
14,170
Identified Items
(697)
—
—
Impairments
(3,672)
—
587
299
—
Gain/(Loss) on sale of assets
886
—
324
—
—
Tax-related items
324
—
—
—
(5)
Severance
—
(48)
764
—
—
Other
386
—
978
299
(5)
Total Identified Items
(2,076)
(48)
18,682
17,551
6,755
Earnings/(Loss) (U.S. GAAP) Excluding Identified Items
45,066
14,218
3Q22
2Q22
3Q21
Dollars Per Common Share
YTD 2022
YTD 2021
4.68
4.21
1.57
Earnings/(Loss) Per Common Share ¹
10.17
3.31
Identified Items Per Common Share ¹
(0.16)
—
—
Impairments
(0.87)
—
0.14
0.07
—
Gain/(Loss) on sale of assets
0.21
—
0.08
—
—
Tax-related items
0.08
—
—
—
(0.01)
Severance
—
(0.02)
0.18
—
—
Other
0.09
—
0.23
0.07
(0.01)
Total Identified Items Per Common Share ¹
(0.49)
(0.02)
4.45
4.14
1.58
Earnings/(Loss) (U.S. GAAP) Excl. Identified Items Per Common Share ¹
10.66
3.33
¹ Assuming dilution
ATTACHMENT II-b
KEY FIGURES: IDENTIFIED ITEMS BY SEGMENT
Third Quarter 2022
Upstream
Energy Products
Chemical Products
Specialty Products
Corporate & Financing
Total
Dollars in millions
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
Earnings/(Loss) (U.S. GAAP)
3,110
9,309
3,008
2,811
635
177
306
456
(152)
19,660
Identified Items
Impairments
—
(697)
—
—
—
—
—
—
—
(697)
Gain/(Loss) on sale of assets
—
587
—
—
—
—
—
—
—
587
Tax-related items
—
—
—
—
—
—
—
—
324
324
Other
—
688
—
—
—
—
—
—
76
764
Total Identified Items
—
578
—
—
—
—
—
—
400
978
Earnings/(Loss) Excl. Identified Items
3,110
8,731
3,008
2,811
635
177
306
456
(552)
18,682
Second Quarter 2022
Upstream
Energy Products
Chemical Products
Specialty Products
Corporate & Financing
Total
Dollars in millions
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
Earnings/(Loss) (U.S. GAAP)
3,749
7,622
2,655
2,617
625
450
232
185
(286)
17,850
Identified Items
Gain/(Loss) on sale of assets
299
—
—
—
—
—
—
—
—
299
Total Identified Items
299
—
—
—
—
—
—
—
—
299
Earnings/(Loss) Excl. Identified Items
3,450
7,622
2,655
2,617
625
450
232
185
(286)
17,551
Third Quarter 2021
Upstream
Energy Products
Chemical Products
Specialty Products
Corporate & Financing
Total
Dollars in millions
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
Earnings/(Loss) (U.S. GAAP)
869
3,082
479
50
1,121
907
247
592
(596)
6,750
Identified Items
Severance
—
—
—
—
—
—
—
—
(5)
(5)
Total Identified Items
—
—
—
—
—
—
—
—
(5)
(5)
Earnings/(Loss) Excl. Identified Items
869
3,082
479
50
1,121
907
247
592
(591)
6,755
YTD 2022
Upstream
Energy Products
Chemical Products
Specialty Products
Corporate & Financing
Total
Dollars in millions
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
Earnings/(Loss) (U.S. GAAP)
9,235
19,043
6,152
4,744
2,030
1,263
784
871
(1,132)
42,990
Identified Items
Impairments
—
(3,574)
—
—
—
—
—
—
(98)
(3,672)
Gain/(Loss) on sale of assets
299
587
—
—
—
—
—
—
—
886
Tax-related items
—
—
—
—
—
—
—
—
324
324
Other
—
310
—
—
—
—
—
—
76
386
Total Identified Items
299
(2,677)
—
—
—
—
—
—
302
(2,076)
Earnings/(Loss) Excl. Identified Items
8,936
21,720
6,152
4,744
2,030
1,263
784
871
(1,434)
45,066
YTD 2021
Upstream
Energy Products
Chemical Products
Specialty Products
Corporate & Financing
Total
Dollars in millions
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
U.S.
Non-U.S.
Earnings/(Loss) (U.S. GAAP)
1,895
7,795
(31)
(1,217)
2,923
2,695
689
1,454
(2,033)
14,170
Identified Items
Severance
—
—
—
—
—
—
—
—
(48)
(48)
Total Identified Items
—
—
—
—
—
—
—
—
(48)
(48)
Earnings/(Loss) Excl. Identified Items
1,895
7,795
(31)
(1,217)
2,923
2,695
689
1,454
(1,985)
14,218
ATTACHMENT III
KEY FIGURES: UPSTREAM VOLUMES
3Q22
2Q22
3Q21
Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd)
YTD 2022
YTD 2021
783
777
758
United States
771
704
641
556
569
Canada/Other Americas
558
557
4
4
21
Europe
4
24
249
224
248
Africa
243
252
666
691
668
Asia
698
676
46
46
49
Australia/Oceania
44
44
2,389
2,298
2,313
Worldwide
2,318
2,257
3Q22
2Q22
3Q21
Natural gas production available for sale, million cubic feet per day (mcfd)
YTD 2022
YTD 2021
2,351
2,699
2,701
United States
2,607
2,757
158
180
184
Canada/Other Americas
175
197
541
825
343
Europe
711
796
70
67
53
Africa
65
41
3,304
3,320
3,365
Asia
3,321
3,465
1,539
1,515
1,464
Australia/Oceania
1,460
1,266
7,963
8,606
8,110
Worldwide
8,339
8,522
3,716
3,732
3,665
Oil-equivalent production (koebd)¹
3,708
3,677
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.
ATTACHMENT IV
KEY FIGURES: MANUFACTURING THROUGHPUT AND SALES
3Q22
2Q22
3Q21
Refinery throughput, thousand barrels per day (kbd)
YTD 2022
YTD 2021
1,742
1,686
1,684
United States
1,705
1,583
426
413
404
Canada
413
367
1,253
1,164
1,215
Europe
1,204
1,197
557
532
585
Asia Pacific
542
579
187
193
163
Other
182
162
4,165
3,988
4,051
Worldwide
4,046
3,888
3Q22
2Q22
3Q21
Energy Products sales, thousand barrels per day (kbd)
YTD 2022
YTD 2021
2,479
2,452
2,361
United States
2,399
2,223
3,058
2,858
2,941
Non-U.S.
2,922
2,825
5,537
5,310
5,302
Worldwide
5,321
5,049
2,335
2,208
2,191
Gasolines, naphthas
2,220
2,102
1,818
1,755
1,796
Heating oils, kerosene, diesel
1,766
1,731
365
350
228
Aviation fuels
335
204
252
228
276
Heavy fuels
243
269
767
769
811
Other energy products
758
742
5,537
5,310
5,302
Worldwide
5,321
5,049
3Q22
2Q22
3Q21
Chemical Products sales, thousand metric tons (kt)
YTD 2022
YTD 2021
1,658
1,998
1,807
United States
5,688
5,210
3,023
2,812
3,007
Non-U.S.
8,821
9,100
4,680
4,811
4,814
Worldwide
14,509
14,309
3Q22
2Q22
3Q21
Specialty Products sales, thousand metric tons (kt)
YTD 2022
YTD 2021
483
590
471
United States
1,594
1,476
1,434
1,511
1,424
Non-U.S.
4,430
4,356
1,917
2,100
1,896
Worldwide
6,024
5,832
ATTACHMENT V
KEY FIGURES: CAPITAL AND EXPLORATION EXPENDITURES
3Q22
2Q22
3Q21
Dollars in millions
YTD 2022
YTD 2021
Upstream
1,837
1,644
976
United States
4,850
2,711
2,244
1,983
1,863
Non-U.S.
6,737
5,302
4,081
3,627
2,839
Total
11,587
8,013
Energy Products
316
300
194
United States
1,008
651
274
206
240
Non-U.S.
654
661
590
506
434
Total
1,662
1,312
Chemical Products
310
250
383
United States
791
900
644
169
151
Non-U.S.
1,018
445
954
419
534
Total
1,809
1,345
Specialty Products
15
14
7
United States
34
18
72
42
36
Non-U.S.
132
97
87
56
43
Total
166
115
Other
16
1
1
Other
17
2
5,728
4,609
3,851
Worldwide
15,241
10,787
CASH CAPITAL EXPENDITURES
3Q22
2Q22
3Q21
Dollars in millions
YTD 2022
YTD 2021
4,876
3,837
2,840
Additions to property, plant and equipment
12,624
7,987
184
166
232
Net investments and advances
677
713
5,060
4,003
3,072
Total Cash Capital Expenditures
13,301
8,700
ATTACHMENT VI
KEY FIGURES: YEAR-TO-DATE EARNINGS/(LOSS)
Results Summary
3Q22
2Q22
Change
vs
2Q22
3Q21
Change
vs
3Q21
Dollars in millions (except per share data)
YTD 2022
YTD 2021
Change
vs
YTD 2021
19,660
17,850
+1,810
6,750
+12,910
Earnings/(Loss) (U.S. GAAP)
42,990
14,170
+28,820
18,682
17,551
+1,131
6,755
+11,927
Earnings/(Loss) Excluding Identified Items
45,066
14,218
+30,848
4.68
4.21
+0.47
1.57
+3.11
Earnings Per Common Share ¹
10.17
3.31
+6.86
4.45
4.14
+0.31
1.58
+2.87
Earnings/(Loss) Excl. Identified Items Per Common Share ¹
10.66
3.33
+7.33
5,728
4,609
+1,119
3,851
+1,877
Capital and Exploration Expenditures
15,241
10,787
+4,454
¹ Assuming dilution
ATTACHMENT VII
KEY FIGURES: EARNINGS/(LOSS) BY QUARTER
Dollars in millions
2022
2021
2020
2019
2018
First Quarter
5,480
2,730
(610)
2,350
4,650
Second Quarter
17,850
4,690
(1,080)
3,130
3,950
Third Quarter
19,660
6,750
(680)
3,170
6,240
Fourth Quarter
—
8,870
(20,070)
5,690
6,000
Full Year
—
23,040
(22,440)
14,340
20,840
Dollars per common share ¹
2022
2021
2020
2019
2018
First Quarter
1.28
0.64
(0.14)
0.55
1.09
Second Quarter
4.21
1.10
(0.26)
0.73
0.92
Third Quarter
4.68
1.57
(0.15)
0.75
1.46
Fourth Quarter
—
2.08
(4.70)
1.33
1.41
Full Year
—
5.39
(5.25)
3.36
4.88
1 Computed using the average number of shares outstanding during each period.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221028005034/en/
CONTACT: Media Relations
972-940-6007
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: CHEMICALS/PLASTICS ENERGY MANUFACTURING OIL/GAS
SOURCE: Exxon Mobil Corporation
Copyright Business Wire 2022.
PUB: 10/28/2022 06:30 AM/DISC: 10/28/2022 06:31 AM
http://www.businesswire.com/news/home/20221028005034/en