It's a Gas! Exxon Reports Record Profits
Exxon Corporation reports record profits!
Exxon Mobil Corporation (NYSE:XOM) today reported fourth quarter 2005 results. Earnings excluding special items were $10,320 million ($1.65 per share), an increase of $1,900 million from the fourth quarter of 2004. Fourth quarter net income included a special gain of $390 million from the resolution of a previously disclosed litigation issue. Including this gain, net income of $10,710 million ($1.71 per share) increased by $2,290 million.
ExxonMobil’s Chairman Rex W. Tillerson Commented:
“ExxonMobil’s fourth quarter earnings excluding special items were $10,320 million, up 23% from fourth quarter 2004, reflecting higher crude oil and natural gas realizations and improved refining and marketing margins. Net income for the fourth quarter was $10,710 million, up 27% from 2004.
“There is a great deal of public interest in global energy prices. We recognize that consumers worldwide want and need reliable supplies of affordable energy — to fuel their vehicles, light and heat their homes and run their businesses. Our strong financial results will continue to allow us to make significant, long-term investments required to do our part in meeting the world’s energy needs.
Hat Tip Chris Whitener.