Simple financial analysis & investment research



Exxon Mobil Financials Q1 2013

by June 13, 2013


Exxon Mobil Financials Q1 2013, interactive charts

  • Despite management’s assertion of having a strong quarter, we saw declining sales and oilfield depletion. Double-checked the data and still see the same.
  • Net income was maintained flat by cutting operational expenses.
  • Cash and current assets are being depleted and bleeding.
  • Large spending for new investments (Celtic Exploration etc) have still to show results.
  • Let’s hope for the best; Exxon plans to spend some $38 billion per year for the next few years for new investments.

Billions of stock repurchases apparently stabilized stock price so far.
The cash burn plus the decline in production and sales is quite worrisome.

Exxon Mobil Financials Q1 2013
Sales, earnings and financial results



Income statement overview
Detailed revenues and expenses

  • Exxon Mobil sales, costs, margins, and net income

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing how revenues are converted into earnings and profits:
    Sales, cost of sales, gross margin, operating expenses, operating margin, non-operating expenses, income taxes, exceptional items, preferred distributions, net income.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil operating income

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing detailed revenues and costs chart, converging to earnings and net profits.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


Seeing the charts above, we initially thought at a data snafu. Latest 10Q mentions that ExxonMobil achieved such “strong results” during Q1 2013, while “investing significantly to develop new energy supplies […]”.

Frankly, we had quite a difficulty in seeing the strong results. After double checking the data, we still saw the same picture. In volume terms overall production is down as well: 3.5% less QoQ.
ExxonMobil succeeded to preserve its net income flat only bu cutting operational expenses were cut significantly.

Why those dismal sales?

Management only quoted the Japan restructuring and other divestments as reasons.
We believe it’s just plain oilfield depletion, despite efforts to ramp up newly acquired sites.

Balance sheet
Current assets
Long-term assets
Current liabilities
Long-term liab.

  • Exxon Mobil balance sheet overview: assets and liabilities

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing the overall financial strength of the company in the form of a balance sheet chart:
    Current assets, long term assets, current liabilities, long-term liabilities, equity, are all plotted here as an overview chart.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil current assets details

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing the details on the most liquid (current) assets:
    cash, investments, accounts receivable, inventory, deferred tax, others.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil property, equity, intangibles

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing non-current (capital) assets details:
    Property plant and equipment, equity, goodwill, intangibles, others.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil accounts payable, debt, taxes due

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing current liabilities in full details:
    Payables, debt, taxes, others.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil debt, pensions, and other long term liabilities

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing long term liabilities in full detail:
    Bebt, taxes, and others.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


Not only oilfields appear under depletion, cash and current assets as well were being depleted.

Some 14 billion just vanished from current assets in one year, being used for plant and equipment acquisitions. Let’s see whether those acquisitions will produce oil and gas, we didn’t make yet the forecast.

Long term liabilities tend to increase as well.

Cash flow overview
Operating cash flow
Investment cash flow
Financing cash flow

  • Exxon Mobil cash flow overview: operational, financial, investment

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing the overview of cash flows:
    Net cash flow, as dividend in operating, financing, and investment cash flow.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil current assets details

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing operating cash flows (cash flow generated by operating activities):
    Net income, adjustments, accounts payable, accounts receivable, inventory.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil property, equity, intangibles

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing financing cash flows (cash flow from financing activities):
    Debt, stock, dividend.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


  • Exxon Mobil accounts payable, debt, taxes due

    Exxon Mobil financials for Q1 2013
    Here you see a nicely-colored chart showing the investment cash flows (cash flow from investing activities):
    Property plant and equipment, investments, securities, in full detail.

    If you do not see the chart, try refreshing the page; Javascript need to be activated.
    Click here for larger chart


Overall cash flow is as expected: operating cash flow is declining.

All the operating cash (and more) was used for plant&equipment acquisitions, dividends and share buybacks.

ExxonMobil was constantly bleeding cash for the past four quarters.


Data sources for Exxon Mobil financials for Q1 2013:
All charts are interactive.
SHARE :

My comment: