All things considered, 4Q earnings were decent, slightly beating expectations on adjusted earnings. As expected, $20G write down was headline clickbait, nothing more. “Experts” here who predicted stock price crash when impact of write down formally reported were wrong of course. Commitment to maintain dividend and further cut expenses. A bit short on cash flow and volumes, but not the disaster the h*ters were hoping for. Now we will hear all about the 3 cents per share and decline from prior years, etc. But, EM lives on! Dividend here to stay! Heads exploding! LOL
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a weak company.. nuff said.
praising*
For the size of XOM and the assets it owns, the stock won't crash and the company won't go down on its own anytime soon. There's no magic about the current sustainable level. BUT you should all admit that XOM has already lost its power and its ability to withstand financial crisis without any significant changes.
The fact that some of you are braising DW's dirty work on cutting the workforce and the 401K to save the dividends and stock price showed that you are a bunch of idi**ts, who can't differentiate between a true leader's and a hypocrite's action. (hold your horses and read on)
What DW did wrong was not about cutting the workforce but about cutting the workforce only at a time like this.
XOM indeed has lots of fat that deserve to be let go. However, they should have been let go long ago after yearly reviews and in a much less magnitude and a more appropriate way. If DW truly thinks about helping out the organization as a whole, he should have done so, but he did not when the market was good because that would not benefit him in any way, except for making more enemies. However, he has done it just now in a drastic way that not only let go the bad apples but also affected the good apples. Not just that, he went further and cut the 401K, which affected the rests of the company, except the few in his executives circle who don't give a darn about the 401K. Then he can just blame the current market for his actions. Because of that, he is a hypocrite, instead of a leader, who has done things to kiss a$$ of a few and to save his own a$$, which made those who believe in his bs idi*ts.
At the end of the day, think about what he should have done all along as a leader vs what he has done just within the last year to show his fake leadership.
Annualized at $3.48/sh actually. Thanks DW! Didn't say EM was a successful company, just that the wild and wishful thinking that the massive write down would tank the stock was only a distant dream, as anyone with even the slightest understanding of the market understood. LOL
Analysts seemed fairly pleased with the numbers. Do you really think EM would have been judged more successful if the earnings report had said $0,90/sh, but $0.87 of that was from cutting the 4Q dividend? Think that would excite Wall Street? Oh man, EM just reported blockbuster numbers, but oh wait, it was all just from a lousy dividend cut, not performance or capex/opex discipline. What a joke. Paying out the dividend in 2020 has not prevented EM from taking a single action that needed to be taken. Actually, if anything, it forced them to partially get the house in order. More to come in 2021/22. And the dividend is here to stay, for now. Ha
Don't think anyone will be taking your advice anytime soon.
Old soldiers fade away.
Issue for the 'L*vers' of Exxon is:
Can you still love it when Rosneft or Aramco are calling the shots?
EM profit 3c/share versus a dividend payment of >25x 4q profit. The only mo–n is the one bashing the "haters" because the stock didn't crash. You're an id–t if you believe that is what makes a successful company.
Oh wait until you figure it out huh? Well, when YOU SAY SO I guess the stock will crash. LOL. Go short young man, go short! Riches await you, as soon as you figure it out. Fact EM didn't crater is really bothering the h*ters. LOL
wait and the stock will crash as soon we investors figure out how incompetent and braindead the organization, its members and management are.
Only mo–n here is you
Fact that XTO assets required a major impairment was known to all for quite some time. Amount and timing debatable, but EM chose now. So, it was totally expected and in reality doesn’t say anything about current health of company. Just cleaning up the books for a mistake made years ago. There was an army of m*rons on this forum that claimed and hoped stock price would collapse when earnings reported with the writedown included, which was a completely ridiculous claim. Where are they now?
Read the Management Perspectives on Forward Plans in the earnings report. More workforce reductions to come......
"Achieving Structural Cost Reductions
In 2020, ExxonMobil reduced annual cash operating expenses by $8 billion, of which $3 billion are structural reductions. The Company expects to generate additional annual savings of $3 billion by 2023, resulting in total structural annual expense reductions of $6 billion, including savings from a global workforce reduction."
Thread starter says LOL. Go look back in the past we have never really written down our assets, this time round EM weakness been exposed, why is it so weak unable to push it back? $19G write down ???
I’m curious how they handle the earnings for the EBUs. Did they all just get wiped out, or did Darren give himself a mulligan?