Exxon Logs Fourth Quarterly Loss in a Row -- Update
02 Février 2021 - 3:34PM
Dow Jones News
By Allison Prang
Exxon Mobil Corp. posted its fourth consecutive quarterly loss,
bringing its total loss for the fiscal year to more than $22
billion.
The company reported a fourth-quarter loss of $20.07 billion, or
$4.70 a share, compared with a profit of $5.69 billion, or $1.33 a
share, a year earlier. Adjusted profit was 3 cents a share, which
exceeded Wall Street's consensus estimate of 1 cent a share,
according to FactSet.
The company's fourth-quarter results included more than $19
billion in impairments.
"The past year presented the most challenging market conditions
ExxonMobil has ever experienced," Chief Executive and Chairman
Darren Woods said in prepared remarks.
Shares of Exxon rose 2.2% in premarket trading.
Rival Chevron Corp. last week posted its third quarterly loss in
a row. The Wall Street Journal reported over the weekend that Exxon
and Chevron discussed a potential merger last year.
The company, under pressure from activist investors, on Tuesday
said it added Tan Sri Wan Zulkiflee Wan Ariffin, former president
and group CEO of Malaysia's state oil firm Petronas, to the board.
Exxon said that it is talking to other board candidates and that it
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.
Revenue and other income fell 31% to $46.54 billion, nearly in
line with Wall Street's consensus estimate of $46.55 billion.
Exxon said Monday it is creating a division to focus on
technologies to cut carbon emissions. The new business will be
called "low carbon solutions."
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
February 02, 2021 09:19 ET (14:19 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024