First quarter 2018 earnings call Jeff Woodbury Vice President, Investor Relations and Secretary April 27, 2018
Headlines First quarter earnings of 4.7 billion, cash flow1 of 10 billion Highest quarterly cash flow1 since 2014 Positive U.S. Upstream earnings of 429 million Papua New Guinea resumed production; reduced earnings by 80 million,…
First quarter 2018 financial results Earnings 4.7 Earnings Per Share Diluted (dollars) 1.09 Cash Flow from Operations and Asset Sales1 10.0 Shareholder Distributions 3.3 CAPEX 4.9 Debt 40.6 Cash 4.1 Billions of dollars unless specified…
Quarterly business drivers Strong liquids and natural gas realizations, dampened by widening WCS spread Volumes lower due to entitlements, downtime, and divestments Upstream Progressing growth activities Highgrading portfolio…
First quarter 2018 sources of cash Earnings 4.7 Key Themes Depreciation 4.5 Higher earnings1 than fourth quarter 2017 Working Capital 0.4 Other items reflect timing of equity company distributions Other (1.0) Asset sales in Upstream…
First quarter 2018 sources and uses of cash Beginning Cash 3.2 Key Themes Increased second quarter dividend 6.5%, marking Cash Flow from Operations and Asset Sales 10.0 36th consecutive year of dividend growth Shareholder…
Total earnings 1Q18 vs. 4Q17 Millions of Dollars Earnings increased 918 million1 8,380 Higher Upstream realizations Weaker refining margins Lower operating expenses 979 (12) 76 (125) 4,650 Higher corporate and financing due to…
Total earnings 1Q18 vs. 1Q17 Millions of Dollars Earnings increased 640 million Higher Upstream realizations 1,245 (176) (160) Lower Downstream asset management gains (269) 4,650 Lower Chemical margins 4,010 Higher corporate and…
Progressing growth plans Pacora-1 discovery; seventh on Stabroek block Guyana exploration Second rig mobilized for Sorubim well and Liza Phase 1 development wells Increased Pnyang resource 84 percent to 4.36 TCF PNG expansion…
Upstream earnings 1Q18 vs. 4Q17 Millions of Dollars Earnings increased 979 million1 8,352 Crude realizations +3.00/bbl Natural gas realizations +0.80/kcf Volumes/mix driven by downtime and lower entitlements partly offset by gas…
Upstream volumes 1Q18 vs. 4Q17 koebd Volumes down 3% Liquids -35 kbd 3,991 (94) (12) 4 3,889 Natural gas -403 mcfd Price, Spend, Liquids: +4 & Other: -91 Lower entitlements with higher prices Net interest: -3 Sale of Norway…
Upstream earnings 1Q18 vs. 1Q17 Millions of Dollars Earnings increased 1.2 billion Crude realizations +10.80/bbl 1,430 (190) 10 3,497 Natural gas realizations +0.90/kcf Volume/mix impacts from lower entitlements and PNG downtime,…
Upstream volumes 1Q18 vs. 1Q17 koebd Volumes down 6% 4,151 (73) Liquids -117 kbd (53) (136) 3,889 Natural gas -870 mcfd Price, Spend, Liquids: -27 & Other: -70 Gas: -109 Lower entitlements with higher prices Net interest: -3…
Responding to Papua New Guinea earthquake Operations safely shut down at the LNG plant, gas conditioning plant, and well pads Engaged with Government, agencies, and community to support relief effort Inspections confirmed…
Brazil: high-quality resource potential Net acreage positions Million acres 2 BBO gross discovered resource with near-term 1Q 2018 development plan 2.0 YE 2017 Multi-billion-barrel, pre-salt prospects ExxonMobil operates 60% of…
Downstream earnings 1Q18 vs. 4Q17 Millions of Dollars Earnings decreased 12 million1 Weaker refining margins Volumes down with lower seasonal demand 1,564 and higher maintenance activity Lower operating expenses 952 (200) 230 940…
Downstream earnings 1Q18 vs. 1Q17 Millions of Dollars Earnings decreased 176 million Weaker non-U.S. margins, offset by higher U.S. margins Reduced volumes due to higher U.S. maintenance activity, mainly Joliet 1,116 (30) (60)…
Chemical earnings 1Q18 vs. 4Q17 Millions of Dollars Earnings increased 76 million1 Weaker margins due to higher feedstock costs Reduced volumes due to turnaround activity Lower operating expenses 1,270 Favorable forex effects 140…
Chemical earnings 1Q18 vs. 1Q17 Millions of Dollars Earnings decreased 160 million Weaker margins on higher feedstock costs Volumes up due to Singapore acquisition, Mont Belvieu start-up and strong demand 1,171 (270) Higher…
Summary Key Themes Earnings 4.7 Solid financial performance More than covered net investments and Cash Flow from Operations and Asset Sales 10.0 dividends Upstream production (MOEBD) 3.9 Strengthening Upstream portfolio…
Q&A ExxonMobil first quarter 2018 earnings call 22
Supplemental Information Cash Flow from Operations 8.6 Proceeds associated with Asset Sales 1.4 PP&E Adds / Net Investments & Advances (3.3) Free Cash Flow 6.7 Billions of dollars unless specified otherwise ExxonMobil first…
Supplemental Information Earnings Impact from U.S. 4Q17 Earnings 4Q17 Earnings Tax Reform and Excluding U.S. Tax Reform Impairments and Impairments Upstream 8,352 5,834 2,518 Downstream 1,564 612 952 Chemical 1,270 335 935 Corporate…
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