Exxon Mobil Q4 Profit Down - Quick Facts

(RTTNews) - Exxon Mobil Corp. (XOM) reported that its fourth-quarter net income attributable to the company declined to $5.69 billion or $1.33 per share from $6.00 billion or $1.41 per share in the prior year. The latest-quarter result included favorable identified items of about $3.9 billion or $0.92 per share, mainly a $3.7 billion gain from the Norway upstream divestment.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

"Our operations performed well, while short-term supply length in the downstream and chemicals businesses impacted margins and financial results," said Darren Woods, chairman and chief executive officer.

Oil-equivalent production was in line with the fourth quarter of 2018, at 4 million barrels per day, with a 4 percent increase in liquids offset by a 5 percent decrease in gas. Excluding entitlement effects and divestments, liquids production increased 2 percent driven by Permian Basin growth, while natural gas volumes decreased 4 percent.

Total revenues and other income for the quarter declined to $67.17 billion from $71.90 billion in the prior year. Analysts expected revenues of $64.17 billion for the quarter.

In Friday pre-market trade, XOM is trading at $64.41, down $0.38 or 0.59 percent.