Fourth Quarter 2015 Earnings Call Jeff Woodbury Vice President, Investor Relations & Secretary February 2, 2016
Headlines Full-year earnings of 16.2B; fourth quarter earnings of 2.8B Relentless focus on business fundamentals, including project execution and cost management Downstream and Chemical results highlight strength of integrated…
Business Environment Global economic growth continued to slow during the fourth quarter U.S. growth softened China continued to decelerate; ongoing economic weakness in Japan Europe remained stable with continued tepid growth…
4Q15 Financial Results Earnings 2.8 Earnings Per Share Diluted (dollars) 0.67 Shareholder Distributions 3.6 CAPEX 7.4 Cash Flow from Operations and Asset Sales1 5.1 Cash 3.7 Debt 38.7 Billions of dollars unless specified…
4Q15 Sources and Uses of Cash Cash balances decreased by 600M in the fourth quarter Beginning Cash 4.3 Earnings 2.8 Depreciation 4.7 5.1 Working Capital / Other (3.2) Proceeds Associated with Asset Sales 0.8 PP&E Adds /…
Total Earnings 4Q15 vs. 4Q14 Earnings decreased 3.8B as lower Upstream earnings were partially offset by stronger Downstream results Millions of Dollars 6,570 (4,611) 854 (264) 231 2,780 4Q14 U/S D/S Chem C&F 4Q15 7
Total Earnings 4Q15 vs. 3Q15 Earnings down 1.5B due to lower earnings across all business segments Millions of Dollars 4,240 (501) (682) (264) (13) 2,780 3Q15 U/S D/S Chem C&F 4Q15 8
Upstream Earnings 4Q15 vs. 4Q14 Earnings down 4.6B reflecting lower realizations as well as the absence of prior year deferred income tax effects Millions of Dollars 5,468 (3,750) 100 (960) 857 4Q14 Realization Vol/Mix…
Upstream Earnings 4Q15 vs. 3Q15 Earnings decreased 501M as lower realizations were partly offset by higher volumes and other items Millions of Dollars 1,358 (840) 90 857 250 3Q15 Realization Vol/Mix Other 4Q15 11
Downstream Earnings 4Q15 vs. 4Q14 Earnings increased 854M due to stronger refining margins, favorable volumes mix, and lower maintenance activities Millions of Dollars 170 1,351 70 610 497 4Q14 Margin Vol/Mix Other…
Downstream Earnings 4Q15 vs. 3Q15 Earnings decreased 682M on lower margins Millions of Dollars 2,033 (860) 120 1,351 60 3Q15 Margin Vol/Mix Other 4Q15 14
Chemical Earnings 4Q15 vs. 4Q14 Earnings down 264M reflecting weaker margins and unfavorable other items, partly offset by favorable volumes mix Millions of Dollars 1,227 (210) 170 (230) 963 4Q14 Margin Vol/Mix Other…
Chemical Earnings 4Q15 vs. 3Q15 Earnings declined 264M as weaker margins and higher maintenance activities were partly offset by favorable volumes mix Millions of Dollars 1,227 (190) 80 (160) 963 3Q15 Margin Vol/Mix Other…
2015 Financial Results Earnings 16.2 Earnings Per Share Diluted (dollars) 3.85 Shareholder Distributions 15.1 CAPEX 31.1 Cash Flow from Operations and Asset Sales1 32.7 Cash 3.7 Debt 38.7 Billions of dollars unless…
2015 Sources and Uses of Cash Cash balances decreased by 1B in 2015 Beginning Cash1 4.7 Earnings 16.2 Depreciation 18.0 32.7 Working Capital / Other (3.9) Proceeds Associated with Asset Sales 2.4 PP&E Adds / Investments and…
2015 Sources and Uses of Cash Integrated cash flow supports distributions and funds investments B 45 Cash Draw 1.0B 40 Debt & Other Financial flexibility to invest through cycle 7.6B 35 Financing Asset Sales PP&E Adds / 30…
Total Earnings 2015 vs. 2014 Earnings decreased 16.4B on weaker Upstream results, partially offset by stronger Downstream performance and lower corporate costs Millions of Dollars 32,520 (20,447) 3,512 103 462 16,150 2014…
Upstream Earnings 2015 vs. 2014 Earnings decreased 20.4B due to sharply lower realizations and lower asset management gains, partly offset by favorable volumes mix effects Millions of Dollars 27,548 (18,820) 810 (2,440)…
Downstream Earnings 2015 vs. 2014 Earnings increased 3.5B on stronger margins, partially offset by higher maintenance activities Millions of Dollars 4,130 (200) (420) 6,557 3,045 2014 Margin Vol/Mix Other 2015 23
Chemical Earnings 2015 vs. 2014 Earnings increased 103M driven by stronger margins and favorable volumes mix, mostly offset by unfavorable foreign exchange effects Millions of Dollars 220 (710) 590 4,315 4,418 2014 Margin…
Upstream Projects Update Adding higher-value production capacity to meet long-term demand growth Six 2015 major project start-ups added 300 KOEBD of working interest capacity Permian and Bakken work programs added 85 KOEBD…
Upstream New Opportunity Growth Executing paced, focused program Drilling Update Guyana: seismic acquisition nearly Canada Romania complete; drilling planned 1Q16 Canada East Coast Romania: completed Black Sea drilling…
Summary Integrated business delivers resilient performance Billions of dollars unless specified otherwise 2015 Highlights Earnings 16.2 Capturing Downstream & Chemical value Upstream Production (MOEBD) 4.1 Leading project…
Loading...
