Exxon Mobil posts lowest annual profit since '02

[sonias]

AAS 2/1/10
Exxon Mobil posts lowest annual profit since '02
NEW YORK — Exxon Mobil's earnings were cut by more than half to $19.3 billion in 2009, the lowest total in seven years, as company refineries struggled with a plunge in fuel consumption around the world.

But the world's largest publicly traded oil company remains the profit champ among U.S. public companies. Wal-Mart is expected to earn $14 billion for the year ended Jan. 31, and Microsoft earned $14.6 billion in the fiscal year ended in June 2009.

Exxon's results have swung with the price of oil and the impact of the global recession. When oil spiked above $147 a barrel in mid-2008, Exxon set ever-higher marks for earnings by a U.S. company. Then oil prices plummeted, and Exxon suffered a yearlong hangover that included its smallest quarterly earnings in several years.

The Irving, Texas company finished 2009 with a 23 percent decline in fourth-quarter income. Exxon earned $6.05 billion, or $1.27 a share, for the final three months of the year. That compares with $7.82 billion, or $1.54 a share, a year earlier. Revenue increased 6 percent to $89.8 billion.

Exxon now has posted lower profits for five straight quarters after setting a record of $14.83 billion in the third quarter of 2008.

Too bad. Looks like Exxon Mobil lost their fossil fuel bushie to protect their obscenely high profits! May their gargantuan profits keep sliding downward. Fuck'em! :grr:


Sonia

[BenjaminFranklin]

1. Just 19.3 billion? Awww, mom.

It' ridiculous. They're just playing monopoly while the rest of us struggle with the monthly bills.

[sonias]

2. I can't even imagine Lee Raymond struggling

He's the former CEO of E-M who probably lost a billion on that stock devaluation. The new toad, Rex Tillerson, is the same as the old toad. No offense meant to toads.

ABC News 4/14/06
Oil: Exxon Chairman's $400 Million Parachute
Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.

Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.

Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.

(snip)
That was before new corporate documents filed with the Securities and Exchange Commission that revealed Raymond's retirement deal and his $51.1 million paycheck in 2005. That's equivalent to $141,000 a day, nearly $6,000 an hour. It's almost more than five times what the CEO of Chevron made.

:puke:

http://www.exxposeexxon.com/

Sonia

[GOPisEvil]

3. B-O-O H-O-O

[sonias]

4. Hey you

Nice to see you, GOPisEvil! :hi: Hope you're staying warm.

Have you seen the latest great news in Texas? We may just pull it off this fall. Keep hoping with us!

:woohoo:


Sonia

[GOPisEvil]

5. Staying warm?

I think it's warmer here! El Nino has brought us a nice winter.

Nice to see you too, and I hope you DO pull it off. I would love that! :hi: