EXXON MOBIL Reports Q2 FY2023 Results on July 28th
August 15, 2023
🌥️Earnings Overview
On July 28, 2023, EXXON MOBIL ($NYSE:XOM) revealed their financial results for the second quarter of FY2023, which ended June 30, 2023. The company reported total revenue of USD 80.8 billion, a 27.4% drop from the same quarter last year. Net income was declared to be USD 7.9 billion, a decline of 55.9% year-over-year.
Stock Price
On July 28th, EXXON MOBIL released its second quarter financial results of Fiscal Year 2023 and the stock opened at $105.1. At the end of the day, EXXON MOBIL’s stock closed at $104.2, down by 1.2% from last closing price of 105.4. Investors will need to wait and see how the company performs in the upcoming quarters before forming an opinion on the stock. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Exxon Mobil. More…
| Total Revenues | Net Income | Net Margin |
| 364.12k | 51.72k | 14.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Exxon Mobil. More…
| Operations | Investing | Financing |
| 67.77k | -17.01k | -40.41k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Exxon Mobil. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 363.25k | 156.25k | 49.23 |
Key Ratios Snapshot
Some of the financial key ratios for Exxon Mobil are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.4% | 169.3% | 20.2% |
| FCF Margin | ROE | ROA |
| 12.7% | 23.1% | 12.7% |
Analysis
GoodWhale has analyzed the financials of EXXON MOBIL and compiled the following insights. Our Star Chart shows that EXXON MOBIL has a high health score of 10/10, which indicates that it is in a strong financial position, with sufficient cashflows to pay off debt and fund future operations. In terms of performance metrics, EXXON MOBIL is quite strong in dividend, and medium in asset, growth, and profitability. We have classified EXXON MOBIL as a ‘gorilla’, which means it is a company that achieved stable and high revenue or earning growth due to its strong competitive advantage. Given this analysis, we believe that value investors, dividend investors, or long-term investors may be interested in this company. More…
Peers
The oil and gas industry is a highly competitive sector. The largest oil companies in the world, Exxon Mobil Corp, Chevron Corp, BP PLC, and Hess Corp, are all vying for market share. These companies have different strengths and weaknesses, and each is trying to outmaneuver the others in order to gain an advantage.
– Chevron Corp ($NYSE:CVX)
Chevron is an American energy company with a market cap of 313.46B as of 2022. Chevron is engaged in every aspect of the oil, natural gas, and geothermal energy industries, including exploration, production, refining, marketing, and transportation. Chevron also has interests in chemicals, mining, and power generation. Chevron’s return on equity was 16.97% as of 2022.
– BP PLC ($LSE:BP.)
HSBC Holdings plc is a British multinational banking and financial services holding company headquartered in London, United Kingdom. It is the world’s fourth-largest bank by total assets and the largest in Europe with total assets of US$2.374 trillion. HSBC traces its origin to a hong in Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991. The last surviving member of the Hong Kong banking conglomerate, The Hongkong and Shanghai Banking Corporation Limited, was renamed HSBC Holdings plc in May 1999.
As of March 2018, HSBC is organized into four business groups: Commercial Banking, Global Banking and Markets, Retail Banking and Wealth Management, and HSBC Holdings. HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange, and is a constituent of the Hang Seng Index and the UK FTSE 100 Index. As of 6 July 2012, it had a market capitalization of £102.7 billion, the second-largest company listed on the London Stock Exchange, after Royal Dutch Shell. It has secondary listings on the New York Stock Exchange, Euronext Paris, and the Bermuda Stock Exchange.
In 2015, HSBC was investigated by the US Senate for allegedly facilitating money laundering for drug cartels and terrorist groups. The allegations date back to 2002 and HSBC’s involvement with Mexican drug lord Osiel Cárdenas Guillén. On 11 December 2015, HSBC agreed to pay US$1.256 billion to settle the charges.
– Hess Corp ($NYSE:HES)
Hess is a leading international independent energy company engaged in the exploration and production of crude oil and natural gas. Hess has a market cap of $37.9 billion as of 2022 and a return on equity of 29.47%. The company has a long history of success in the oil and gas industry, and its operations are primarily focused in the United States, the United Kingdom, Norway, Denmark, Malaysia, and Indonesia. Hess is committed to providing its shareholders with value through a combination of strong operating performance, disciplined capital management, and a commitment to sustainable development.
Summary
ExxonMobil reported disappointing earnings for Q2 FY2023, with total revenue decreasing by 27.4% and net income decreasing by 55.9% year-over-year. This has created an opportunity for investors to look at the company’s stock more closely. Analysts will need to consider what could be causing the weaker revenue and profits numbers. This could include a decline in demand for oil and gas, a decrease in efficiency, a shift in operational costs and an inability to keep up with market trends.
Investors should also consider whether there are any promising new projects or initiatives in the works to potentially turn around ExxonMobil’s performance. Overall, it is important for investors to take a closer look at ExxonMobil’s financials in order to determine if the company could be a reliable and profitable long-term investment.
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