Sunday , April 11 2021

ExxonMobil: net profit divided by nearly 2 in Q1

New York (awp / afp) – ExxonMobil notes that its net income is halved to $ 2.35 billion in the first quarter as a result of the large loss in refineries whose margins are under pressure, the statement said. .

The chief, whose hydrocarbon production rose 3 percent over a year, announced adjusted earnings per share, a benchmark in North America of 55 cents, compared to 69 cents expected on average by financial analysts.

This underperformance is due to refinery activity and chemicals whose price environment is "tough," the group from Texas said.

Refiners suffered a loss of $ 256 million, compared with $ 940 million in the first quarter of 2018.

As for chemistry, operating profit was split by nearly $ 2 to $ 518 million compared to $ 1.01 billion a year ago.

On Wall Street, the stock decreased by more than 2% in electronic pre-trading, ExxonMobil saw a revenue drop of more than expected at $ 63.25 billion, down 6.7% against 64.82 billion expected.

Only a good remark: the production of oil and gas rose from 3% to 4 million barrels of oil equivalent per day, thanks to shale reserves in Perm basin (Texas). This is the second consecutive quarter of growth.

The group, which just reorganized its oil exploration activities, increased its investment envelope by 41.6%.

AFP / Rp

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