Exxon posts biggest annual profit ever
Exxon Mobil Corp. Thursday reported the biggest annual profit on record for a U.S. corporation - earning more than $75,000 every minute of 2006 on the back of record oil prices. The world's biggest publicly traded company by revenue posted net earnings of $39.5 billion on revenue of $377.6 billion last year, topping its previous profit record of $36.1 billion in 2005, which at the time was the largest for any U.S. company. CNN Money (2/1/07)
Exxon "Gushing Money" - $10.5 billion in quarter
"This company is just like a well-oiled machine. They are basically gushing money," says Fidel Gheit, oil industry analyst for Oppenheimer & Co. Through the first three quarters, Exxon has earned $29.2 billion, giving it a shot at becoming the first U.S. company to score $40 billion in annual net income. The company already owns the record for highest annual profit, last year's $36 billion, and the highest quarterly profit with the $10.7 billion it earned in the final three months of 2005. USA Today (10/27/06)
Exxon Quarterly Profit Second Highest Ever.
Exxon Mobil Corp., the world's largest public oil company, on Thursday reported quarterly profit surged 35 percent to more than $10 billion, driven by yet another quarter of sharply higher oil prices. It was the second-largest quarterly operating profit ever posted by a U.S. company, just shy of the Texas behemoth's own record fourth quarter profit reported in January. The results sailed past Wall Street forecasts and sent its shares to an all-time high, but triggered a fresh bout of outrage from U.S. lawmakers and consumer groups angry at Big Oil's handsome profits in the midst of high gasoline prices. Reuters (7/27/06)
Exxon Quarterly Profit 5th Highest Ever
Exxon Mobil Corp., the world's largest oil company, reported Thursday the fifth highest quarterly profit for any public company in history. Placed in perspective, Exxon's ($88.98 billion) revenue for the three-month period was still greater than the annual gross domestic product of some major oil producing nations, including the United Arab Emirates ($74.67 billion) and Kuwait ($55.31 billion), according to statistics maintained by the Central Intelligence Agency. CBS News (4/27/06)
$144,573 a Day For Leading Exxon to Its Riches
Shareholder advocates point to what they describe as stealth compensation arranged for Mr. Raymond but not disclosed in proxy filings. Consumer groups complain that while last year's rise in global oil prices left many consumers feeling less prosperous, oil executives have become a lot richer from the higher prices. And some corporate governance experts argue that much of Mr. Raymond's pay came from easy profits generated by skyrocketing oil prices. New York Times (4/15/06)
Exxon: America will always rely on foreign oil
"Realistically, it is simply not feasible in any time period relevant to our discussion today," Exxon Mobil Senior Vice President Stuart McGill said, referring to what he called the "misperception" that the United States can achieve energy independence. Reuters (2/7/06)
Exxon $36 billion profit largest ever for U.S. company
Exxon Mobil Corp. posted a profit of $36 billion on sales of $371 billion for 2005, making it the best year the energy company has ever had... the most profitable year on record for any company in U.S. history... The Foundation for Taxpayer and Consumer Rights issued a statement claiming Exxon Mobil unfairly profited from hurricanes Katrina and Rita... "No oil company should be allowed to reap world record profits from one of the nation's worst natural disasters," FTRC President Jamie Court said. Houston Chronicle (1/31/06)
Exxon's annual revenue exceeds Saudi Arabia's GDP
Exxon's profit for the year was also the largest annual reported net income in U.S. history, according to Howard Silverblatt, a senior index analyst for Standard & Poor's. He said the previous high was Exxon's $25.3 billion profit in 2004. To put that into perspective, Exxon's revenue for the year exceeded Saudi Arabia's estimated 2005 gross domestic product of $340.5 billion, according to statistics maintained by the Central Intelligence Agency. Denver Post (1/30/06)
Exxon bid to head off profits backlash
With oil firms poised to unveil record profits for last year, industry leader Exxon Mobil has moved to blunt the backlash it expects from US politicians and consumers still angry over high fuel prices. The Standard (1/23/06)
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