Exxon Mobil Record Profits

Exxon Mobil nets largest annual profit in U.S. History

Exxon Mobil Corp. has (for the second time), beaten Wall Street expectations by setting a new record for the highest profit ever earned by a U.S. company in a single year.

Once again, Exxon Mobil Corp. has blown past Wall Street expectations and set a new record for the highest profit ever earned by a U.S. company in a single year According to Exxon, the company's 2006 profits reached $39.5 billion, trumping its own record of $36.1 billion in 2005. With the exception of just over $400 million in tax benefits, annual profits netted $39 billion, $2 billion higher than the $37 billion analysts previously estimated.

Per-share earnings for 2006 grew to $6.62, or $6.55 minus the tax benefit. Either way, Exxon beat the expected $6.36 per-share rallying through a volatile year of fluctuating oil, and natural gas prices. Crude oil price per barrel was as high as $77 a barrel in July, ending at $61 a barrel. Natural gas prices fell during 2006 to half of the December 2005 high of $15 per million BTU's (British thermal units) affecting natural gas producers and distributors.

Exxon's 2006 average quarterly results fell some 4 percent compared to the fourth quarter of 2005, yet still exceeded $10 billion surpassing expectations. Exxon earned $10.25 billion in the fourth quarter of 2006, $1.75 per share, compared to $10.7 billion, $1.71 per share last year. Minus the tax benefit, 2006 quarterly earnings were $9.8 billion, $1.69 per share, down 5 percent from $10.3 billion, or $1.65 per share, in the fourth quarter of 2005. October-December quarterly revenue was down $90, from $99.3 billion in the same time period of 2005. Exxon's annual 2006 revenue increased by nearly $378 billion, up from $370 billion in 2005.

Royal Dutch Shell, the world's second-largest oil company also reported profits for 2006, though as tremendous as Exxon Mobil. The Hague-based Royal Dutch Shell earned $5.28 billion in the 4th quarter 2006, a 21 percent jump compared to the $4.39 billion in the fourth quarter of 2005. Full-year earnings were reported as $25.4 billion, a modest 1 percent rise over $25.3 billion in 2005.

Marathon Oil Corp reports lower earnings at $1.08 billion, $3.06 per share, a 17 percent drop compared to $1.26 billion, $3.43 per share in the fourth quarter of 2005. Marathon earned $838 million, $2.38 per share, compared to $1.33 billion, $3.61 per share in the 2005 year earnings. Even with the lower earnings, Marathon Oil exceeded Wall Street expectations of only $2.26 per share for the quarter. In 2006, Marathon earned $5.2 billion, $14.50 per share, up from $3 billion, $8.44 per share in 2005. 2006 quarterly revenue came in at $14 billion compared to $17.2 billion in 2005. Total revenue for 2006 was $65.4 billion compared to $63.3 billion in 2005.

Houston-based independent oil and gas producer Apache reported lower earnings in 2006 earnings at $2.55 billion, $7.64 per share, compared to a 2005 record of $2.62 billion, $7.84 per share. Gas prices pushed Apache's 2006 quarterly earnings to $519 million, $1.56 per share, from $787 million $2.35 in 2005 just shy of expected earnings of $1.60 per share. ExxonMobil's first 2006 quarter net income was $9,280 million.

Looking for more?

The Net	E85 Website
Is it BSorNOT!?	UFO's and Aliens

View the latest news on E85

Limits of Liability / Disclaimer
This site aims to be informative and non biased regarding E85 / Ethanol, Alternative Fuels and related. Any information obtained from this site is not to be considered as absolute; additional resources should be considered prior to making any decisions regarding the use of alternative fuels in your vehicle. Whipnet Technologies / e85.whipnet.net and related companies are not responsible and have no liability for the use or misuse of any information found on this site or the results from any use of said information.