Share Facebook hyperlink opens in a fresh window Twitter connection opens in a fresh window Linkedin website link opens in a whole new window 1 Email connection opens in a completely new window duplicate to clipboard shut Print ExxonMobil announces second-quarter 2023 results
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Management works by using these figures to enhance comparability on the underlying small business throughout numerous durations by isolating and removing sizeable non-operational functions from small business final results. The Company believes this view supplies buyers amplified transparency into small business outcomes and traits and supplies investors by using a see with the company as found throughout the eyes of management. Earnings excluding recognized objects just isn't meant being viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as well prepared in accordance with U.S. GAAP. A reconciliation to earnings is revealed for 2023 and 2022 durations in Attachments II-a and II-b. Corresponding for every share amounts are revealed on page 1 and in Attachment II-a, which includes a reconciliation to earnings/(loss) per frequent share – assuming dilution (U.S. GAAP).
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When compared with exactly the same quarter very last 12 months, earnings lessened $248 million on weaker industry margins and unfavorable volume/mix consequences.
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4Based on ExxonMobil's assessment of historical field commodity prices and margins referencing Intercontinental Trade (ICE), S&P World-wide Platts, IHS Markit together with company estimates and Investigation, the next-quarter 2023 field commodity value atmosphere is akin to the 2nd-quarter of 2018.
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Now a global leader in carbon capture and storage (CCS), ExxonMobil expanded its place even more by coming into right into a definitive arrangement to amass Denbury Inc. The prepared acquisition presents ExxonMobil with certainly one of the biggest owned and operated carbon dioxide (CO2) pipeline networks in The us at one,three hundred miles, the vast majority of which is located alongside the U.S. Gulf Coastline, amongst the biggest U.
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“The get the job done we have been doing to improve our fundamental profitability is mirrored in our next-quarter effects, which doubled from what we earned within a equivalent market commodity selling price environment4 just 5 years in the past,” explained Darren Woods, chairman and chief executive officer.