UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act: | |||
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Title of Each Class | Trading Symbol |
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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:
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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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2
INDEX TO EXHIBITS
Exhibit No. | Description |
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Exxon Mobil Corporation 4Q19 Earnings Considerations. | |
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104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
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3
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.
| EXXON MOBIL CORPORATION | |
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Date: January 3, 2020 | 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) |
4
EXHIBIT 99.1
4Q19 Earnings Considerations
To give perspective regarding market and planned factors affecting 4Q 2019 earnings, we are providing the following summary of factors management believes will impact 4Q 2019 earnings relative to 3Q 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 3Q 2019 earnings and 4Q 2019 earnings or to provide an estimate of 4Q 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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3Q19 earnings, U.S. GAAP |
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2.2 |
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1.2 |
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0.2 |
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(0.5) |
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3.2 |
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Estimated effects of market factors impacting 4Q19 earnings |
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Change in liquids prices |
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(0.1) - 0.1 |
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For example, industry references include1: |
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Brent -$0.3/bbl |
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WTI Cushing -$0.2/bbl |
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WCS -$6.1/bbl |
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Change in gas prices |
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(0.1) - 0.1 |
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For example, industry references include1: |
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Henry Hub +$0.1/mbtu |
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NBP +$1.3/mbtu |
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JKM2 +$1.3/mbtu |
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Change in North American crude logistics differentials |
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(0.1) - 0.0 |
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For example, industry references include1: |
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WTI Houston - WCS +$6.3/bbl |
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WTI Houston - WTI Midland -$1.4/bbl |
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Change in Downstream refining margins |
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(0.8) - (0.6) |
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Change in Chemical margins |
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(0.5) - (0.3) |
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Estimated effects of seasonal and planned factors impacting 4Q19 earnings |
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Change in scheduled maintenance |
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(0.1) - 0.1 |
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(0.3) - (0.2) |
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(0.1) - 0.0 |
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Change in seasonal gas demand |
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0.0 - 0.2 |
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Estimated impacts from identified events |
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Sale of Upstream Norway non-operated assets |
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3.4 - 3.6 |
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Absence of 3Q19 U.S. tax item |
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(0.3) |
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Effects of LIFO inventory accumulations and drawdowns |
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0.3 - 0.5 |
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Change in mark-to-market derivative impacts1 |
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(0.5) - (0.3) |
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1 Price data via publicly available sources as of December 18, 2019; industry data provided as a reference, may differ from ExxonMobil realized prices |
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2 Indicator for Asia Pacific LNG spot market provided as a reference; majority of ExxonMobil LNG sales not linked to spot pricing |
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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 4Q 2019 relative to 3Q 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 4Q 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 fourth 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 4Q 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 and incidents; 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 and regulatory approval 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 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 4Q 2019 earnings that are not currently known or fully understood, including our participation in joint ventures or developments operated by third parties. 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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