Rising Prices Drive Four Fold Increase In Exxon Mobil's Q2 Earnings - Exxon Mobil (NYSE:XOM)

Exxon Mobil Corp XOM posted a Q2 profit of $4.14 per share, an almost four-fold increase over $1.10 a year ago versus the consensus of $3.74. But the company's revenue, at $115.68 billion, +71% Y/Y, missed the $132.7 billion analysts were expecting.
The company's earnings of $17.9 billion, or $4.21 per share, included a $300 million booked identified item associated with the sale of the Barnett Shale upstream asset.
Exxon kept its capital investments at $4.6 billion for Q2 and $9.5 billion in 1H, in line with full-year guidance.
XOM generated cash flow from operating activities of $20 billion.
"Earnings and cash flow benefited from increased production, higher realizations, and tight cost control," said Darren Woods, chairman & CEO.
Exxon increased Permian oil and gas production by approximately 130,000 oil-equivalent barrels per day and refining throughput by 180,000 barrels per day versus the first half of 2021 to meet recovering product demand.
Oil-equivalent production in the second quarter was 3.7 million barrels per day, +4% Y/Y.
Liquids volumes increased by nearly 35,000 barrels per day and natural gas volumes grew by more than 150 million cubic feet per day.
Price Action: XOM shares are up 3.11% at $95.53 during the market session on the last check Friday.
Photo Via Wikimedia Commons