UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 2019
EXXON MOBIL CORPORATION
(Exact name of registrant as specified in its charter)
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NEW JERSEY |
1-2256 |
13-5409005 |
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(State or other jurisdiction |
(Commission |
(IRS Employer |
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of incorporation) |
File Number) |
Identification No.) |
5959 LAS COLINAS BOULEVARD, IRVING, TEXAS 75039-2298
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: 972-940-6000
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(Former name or former address, if changed since last report) |
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Title of Each Class |
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Trading Symbol |
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Name of Each Exchange on Which Registered |
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Common Stock, without par value |
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XOM |
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New York Stock Exchange |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 7.01 |
Regulation FD Disclosure |
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The following information is furnished pursuant to Item 7.01.
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INDEX TO EXHIBITS
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Exhibit No. |
Description |
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Exxon Mobil Corporation 2Q19 Earnings Considerations. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EXXON MOBIL CORPORATION |
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Date: July 1, 2019 |
By: |
/s/ DAVID S. ROSENTHAL |
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David S. Rosenthal |
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Vice President and Controller |
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(Principal Accounting Officer) |
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EXHIBIT 99.1
2Q19 Earnings Considerations
To give perspective regarding market and planned factors affecting 2Q 2019 earnings, we are providing the following summary of factors management believes will impact 2Q 2019 earnings relative to 1Q 2019 earnings. These factors are generally related to market dynamics, seasonal patterns, and planned activities. This list is not meant to be a comprehensive list of all changes between 1Q 2019 earnings and 2Q 2019 earnings or to provide an estimate of 2Q 2019 earnings for the Corporation.
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$ billions |
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Upstream |
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Downstream |
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Chemical |
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Corp & Fin |
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Total |
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1Q19 earnings, U.S. GAAP |
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2.9 |
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(0.3) |
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0.5 |
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(0.8) |
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2.4 |
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Estimated effects of market factors impacting 2Q19 earnings |
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Change in liquids prices |
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0.4 - 0.6 |
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For example, industry references include1: |
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Brent +$4.9/bbl |
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WTI +$5.2/bbl |
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WCS +$3.1/bbl |
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Change in gas prices |
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(0.4) - (0.6) |
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For example, industry references include1: |
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Henry Hub -$0.3/mbtu |
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NBP -$2.2/mbtu |
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Change in North American crude logistics differentials |
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0.0 - 0.1 |
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For example, industry references include1: |
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WTI - WCS +$2.0/bbl |
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WTI Houston - WTI Midland +$1.7/bbl |
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Change in Downstream margins |
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0.3 - 0.4 |
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Change in Chemical margins |
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(0.1) - (0.3) |
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Estimated effects of seasonal and planned factors impacting 2Q19 earnings |
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Scheduled maintenance |
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(0.1) - (0.3) |
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(0.1) - (0.2) |
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Seasonal gas demand |
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(0.1) - (0.2) |
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Estimated impacts from identified events |
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Absence of 1Q19 asset impairments |
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0.2 |
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Mark-to-market derivative impacts1 |
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0.1 - 0.5 |
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1 Price data via publicly available sources as of June 20, 2019; industry data provided as a reference, may differ from ExxonMobil realized prices |
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This information is only intended to provide additional information regarding current estimates of certain factors management believes will likely affect earnings for 2Q 2019 relative to 1Q 2019 to assist investors, analysts and others in formulating their own estimates. It is not intended to be a comprehensive presentation of all factors that will affect the Corporation’s sequential earnings or to provide an estimate of the Corporation’s 2Q 2019 earnings. Actual earnings and the impact of factors identified here may vary depending on the impact of other factors not identified here and are subject to finalization of the Corporation’s financial reporting process for the second quarter.
Outlooks, estimates, projections and other statements of future financial impacts of certain factors as provided in this publication are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Actual future impacts of these certain factors for 2Q 2019 may vary from our estimates for a number of reasons, including additional unidentified factors related to: sales volume and sales mix numbers; maintenance costs; production growth and mix; financing costs; the resolution of any contingencies and uncertain tax positions; environmental and capital expenditures; price impacts; determinations of the outcomes of contractual terms during the quarter, the outcome of commercial negotiations related to the quarter; the timing of any acquisitions or divestments; resolution of trading and derivative positions for the quarter; the impact of fiscal and commercial terms applicable to the quarter; regional differences for the product demand; regional pricing differentials; changes in regulatory policies and any associated liabilities; updates or corrections of any estimate used herein; and other market conditions in the oil, natural gas, petroleum, and petrochemical industries. Furthermore, additional factors may exist that will be relevant to 2Q 2019 earnings that are not currently known or fully understood. All forward-looking statements and the assumptions in this publication speak only as of the date hereof. We do not assume or undertake any obligation to update these forward-looking statements or assumptions as of any future date. Any future update or expansion of the forward-looking statements in this publication will be provided only through a public disclosure indicating that fact.
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