Exxon Mobil badly misses on earnings, takes $2 billion impairment

[mahatmakanejeeves]

Source: CNBC

Exxon Mobil badly misses on earnings, takes $2 billion impairment

Tom DiChristopher | @tdichristopher
31 Mins Ago

Exxon Mobil badly missed earnings forecasts on Tuesday as it took a $2 billion impairment charge, mostly due to the company lowering the value of some of its U.S. gas assets.

Persistently low oil prices and weaker profit margins in Exxon's refining business also weighed on earnings for the full year.

"Financial results for the year were negatively impacted by the prolonged downturn in commodity prices and the impairment charge," Chairman and CEO Darren Woods said in a statement.
....

Exxon reported fourth-quarter earnings of $1.7 billion, or 41 cents a share. In the period a year ago, the oil giant reported earnings of $2.8 billion, or 67 cents a share.


Read more: http://www.cnbc.com/2017/01/31/exxon-mobil-reports-earnings.html

[SamKnause]

1. They will write it off their taxes and get a bigger subsidy from the government.

[yallerdawg]

2. "Oh, what to do, what to do..."

"I've got an idea!"

[DK504]

12. And this doesn't immediately disqualify him for a government position?

I mean even a dog catcher.

[SHRED]

3. Putin has the cure for this

Arctic drilling.

[ProfessorGAC]

4. Which, Of Course, Increases Supply. . .

. . .which lowers prices, which they just said was part of the problem, but they'll do it anyway, because they believe in magic.

[mahatmakanejeeves]

8. Better idea: nuke Iran, seize their oil fields, and cease production. Winner all around. /s. NT

Last edited Tue Jan 31, 2017, 02:13 PM - Edit history (1)

[ProfessorGAC]

17. Well, Not Speaking For Me. . .

. . . but Tillerson and "It" would love you! Of course, they wouldn't get that you were being sarcastic!

[mahatmakanejeeves]

18. I guess I'lll have to add the /s. NT

[Zoonart]

6. T-Rex........

Really needs that Russian deal now..right now.

[stcloudnine]

5. I say we all write to our Mafia leader, Trump.

I say we all write and humbly DEMAND a bailout to cover wages loss due to outsourcing labor to cheaper countries with horrid human rights records, to cover the increases in wages with inflation we should have been given for the last 8 decades, access to the same 0 or negative interest loans that influential banks receive, subsidies for producing waste and polluting out environment, etc.

[Achilleaze]

7. More more more IKGOPR* FAIL

* Illegitimate KGOP Regime, Inc.

[jpak]

9. Trump will raise the price of oil to help them out.

yup

[Yavin4]

10. War is coming.

Gotta take their oil to make up for the loss.

[Bayard]

11. Only 1.7B, huh?

Wah, wah, wah.

Somebody explain what an impairment is to me, please. Is that like a big fat loss?

[Bengus81]

13. Crude is UP 12.00 per barrel from this time last year....

And they still lose their ass--well,on paper. Nah,just more whining to get a barrel of Oil back to $100 no matter what happens to the economy.

[mopinko]

15. wondered that too. assuming an asset revaluation.

[Yupster]

14. They pay a dividend of $ 3.00 a share

or .75 a quarter. That's a problem if you make .41 a share.

[DiverDave]

16. Well, we better give them more taxpayer money then.

Language being written into the very next bill up for vote.
Can't have the Congressional bosses LOSE money, now can we?

[Blue Idaho]

19. Guess the new Sec. State will start gearing up for war.

Gotta get Exxon Mobile some of the Iraqi crude on the cheap.

[not fooled]

20. Hey dump voterz

When they rig the price of oil back up there, and you are paying $100s more per year to drive, remember to remind yourself that if crony capitalism steals your $$$, that's O.K. because unlimited profits = "Freedom".

Of course, if you paid the same amount in taxes to the government to provide healthcare, education, etc. that's "stealing".

Or so Rush and Faux tell 'em.