XOM Exxon Mobil Corp

By Allison Prang

Exxon Mobil Corp. reported its fourth quarterly loss in a row, bringing its total loss for the fiscal year to more than $22 billion.

Exxon reported a fourth-quarter loss of $20.07 billion, or $4.70 a share. A year earlier, Exxon's profit was $5.69 billion, or $1.33 a share. Exxon's adjusted profit was 3 cents a share, which exceeded Wall Street's consensus estimate, according to FactSet, of one cent a share.

The company's results included more than $19 billion in impairments for the fourth quarter.

Revenue and other income at Exxon fell 31% to $46.54 billion, nearly in line with Wall Street's consensus estimate of $46.55 billion.

"The past year presented the most challenging market conditions ExxonMobil has ever experienced," Chief Executive and Chairman Darren Woods said in prepared remarks.

The company said Tuesday a former Petronas president and group CEO, Tan Sri Wan Zulkiflee Wan Ariffin, was elected to Exxon's board. It said it is still talking to other board candidates and that its board expects to take further action in the near term.

Exxon said Tuesday that fourth-quarter oil-equivalent production was 3.7 million barrels a day.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

February 02, 2021 08:07 ET (13:07 GMT)

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