The main drivers were lower prices, with crude and natural gas realizations down 10% and 23%, respectively, and unfavorable unsettled derivatives mark-to-market effects of $2.0 billion, largely reflecting the absence of a positive mark-to-market impact in the prior quarter. Identified items unfavorably impacted earnings by $158 million this quarter, down from $561 million in the previous quarter. Earnings excluding identified items is not meant to be viewed in isolation or as a substitute for net income/(loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. The main drivers were lower prices, with crude and natural gas realizations down 10% and 23%, respectively, and unfavorable unsettled derivatives mark-to-market effects of $2.0 billion, largely reflecting the absence of a positive mark-to-market impact in the prior quarter. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. A reconciliation to earnings is shown for 2023 and 2022 periods in Attachments II-a and II-b. During her time at United Airlines, she was also vice president of investor relations and treasurer. Excluding identified items, earnings declined $1.1 billion year over year, driven by a 23% decrease in crude realizations, partly offset by higher production volumes. Estimates of cumulative annual structural savings may be revised depending on whether cost reductions realized in prior periods are determined to be sustainable compared to 2019 levels. Cerda earned her MBA at California State University, Long Beach, and her BBA from Pepperdine University. This was a decrease of $176 million versus the fourth quarter driven by lower financing costs. Forward-looking and other statements regarding our environmental, social and other sustainability efforts and aspirations are not an indication that these statements are necessarily material to investors or requiring disclosure in our filing with the SEC. A reconciliation to net cash provided by operating activities for the 2022 and 2023 periods is shown on page 8. To contact anyone on our team, please use our contact us form and check the appropriate filter for your requirements. Mr. Andrew P. Swiger is a Chief Financial Officer & Senior VP at Exxon Mobil Corp. and a Member at Boy Scouts of America. President and General Manager Similarly, discussion of future carbon capture, transportation and storage, as well as biofuel, hydrogen and other plans to reduce emissions are dependent on future market factors, such as continued technological progress, policy support and timely rule-making and permitting, and represent forward-looking statements. In addition, two new exploration discoveries were made this year. Houston, Texas, United States ExxonMobil 31 years Corporate Inclusion & Diversity Sep 2020 - Jul 20221 year 11 months Global Organizational Effectiveness Consultant, Downstream / Chemicals /. Nuckols has also been recognized with two distinct industry awards, including the Norm Campbell Rookie of the Year and Media Planner of the Year.. and depletion), Net income/(loss) attributable to noncontrolling interests, ExxonMobil share of income taxes of equity companies, Investments, advances and long-term receivables, Long-term obligations to equity companies, (9,000 million shares authorized, 8,019 million shares issued), (3,976 million shares at March 31, 2023, and 3,937 million shares at December 31, 2022), Additions/(Reductions) in debt with three months or less maturity, Cash dividends to ExxonMobil shareholders, Cash dividends to noncontrolling interests, Cash and cash equivalents at beginning of period, Net natural gas production available for sale, million In addition, historical, current, and forward-looking environmental, social and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future rule-making. Rea will lead several employee initiatives such as New Digs, which aims to combat work-from-home burnout by letting employees and their families work from an Airbnb in the location of their choosing, and Random Coffee, which connects employees across the company through random Zoom pairings. AL. Mortlock has been the energy infrastructure company's chief operating officer since 2019, and will take over as CEO from Alan Foy on 1 March. The incumbent will help Burns Matthews & Partners - Los Angeles Personnel Moves: ExxonMobil VP and General Counsel To Retire. The Corporation declared a second-quarter dividend of $0.91 per share, payable on June 9, 2023, to shareholders of record of Common Stock at the close of business on May 16, 2023. Our people's hard work to execute on our strategic priorities delivered a record first quarter following a record year, said Darren Woods, chairman and chief executive officer. Statements related to outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions in this release, are forward-looking statements. The company may refer to these opportunities as projects in external disclosures at various stages throughout their progression. , As the agency looks to grow beyond Texas, she will specialize her efforts in technology. He is on the Board of Directors at Colorado School of Mines Foundation, U . Philip Wong Irving Texas 75039. Net income/(loss) including noncontrolling interests, Net income/(loss) attributable to ExxonMobil, Earnings per common share - assuming dilution (U.S. dollars), Other assets, including intangibles - net, Net cash provided by operating activities, Net cash provided by (used in) financing activities, Increase/(Decrease) in cash and cash equivalents, Cash and cash equivalents at end of period, Earnings/(Loss) Excluding Identified Items (non-GAAP), Earnings/(Loss) Per Common Share1 (U.S. GAAP), Earnings/(Loss) Excl. Public Company Information: NYSE: XOM Compared to the same quarter last year, net charges declined $339 million due to lower financing costs. The high quality of the directors, officers and employees of Exxon Mobil Corporation is the corporation's greatest strength. Optimization and Trading, ExxonMobil LNG Asia Pacific (EMLAP). Darren Woods serves as the CEO / President of ExxonMobil. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. Chemical Products earnings were $371 million, up from $250 million in the fourth quarter, mainly on improved margins from strengthening of the North American ethane feed advantage partly offset by higher scheduled maintenance. In May 2016, Ms. Clark was named the president of the AmerisourceBergen Foundation, the company's charitable 501 (c)3. Exxon Mobil Corporation officers D. W. Woods Chairman of the Board (1) N. A. Chapman Senior Vice President (1) K. A. Mikells Senior Vice President and Chief Financial Officer (1) J. P. Williams, Jr. Senior Vice President (1) D. L. Ammann Vice President J. R. Chapman Vice President, Tax and Treasurer (1) Vice President Global LNG Marketing. ExxonMobil CEO and key executive team | Craft.co Improved finished lubes margins partially offset lower industry basestock prices. Corporate and Financing reported net charges of $355 million. Mikells was previously chief financial officer at Diageo and a member of its board of directors. Chief Marketing Officer Location: Princeton, NJ Information Security Media Group is a global education and intelligence company focused on cybersecurity. Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. ISMG offers news, views, research, education ZipRecruiter ATS Jobs for ZipSearch/ZipAlerts - 16 days ago, LA Jazz Festival - Los Angeles Relative to 2019, estimated cumulative structural cost savings totaled $7.2 billion, which included an additional $0.3 billion in the first three months of 2023. Based in Doha, Dominic is responsible for all of ExxonMobils Qatar joint venture businesses. Compared to the same quarter last year, earnings decreased by $1.0 billion on weaker industry margins and lower sales, reflecting softer market conditions. Upstream earnings were $6.5 billion, a decrease of $1.7 billion from the fourth quarter. Frequently Used Terms and Non-GAAP Measures. Her leadership roles include positions at multi-billion-dollar multinational banks such as BNP Paribas US and Global Banking, Comerica Bank, and Bank of Americas Global Capital Markets. To learn more, visit exxonmobil.com and the Energy Factor. Request for Proposal (RFP) Chief Marketing Officer for the Los Angeles Jazz Festival Overview: The Los Angeles Jazz Festival is seeking a Chief Marketing Officer (or firm) to develop and implement a ExecuSource - Burbank Morford previously spent 20 years with the United States Department of Justice. The board of directors has elected its current Deputy General Counsel Craig Morford to replace Ebner in both roles. It combines Income taxes and Total other taxes and duties with sales-based taxes, which are reported net in the income statement. President In addition to supporting the agencys underwriters and sales associates in Texas, Oklahoma, New Mexico, and Arkansas, Simmons will be contributing to projects at the national level as a part of her role. Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. Copyright IR Media Group Ltd. 1995 - 2023 All rights reserved. Copyright 2003-2023 Exxon Mobil Corporation. All Rights Reserved. ExxonMobil and Linde, one of the world's leading global industrial gases and engineering companies, have entered into a long-term commercial agreement in which ExxonMobil, subject to government permitting, will capture, transport, and permanently store up to 2.2 million metric tons of carbon dioxide (CO2) each year from Linde's new clean hydrogen production facility in Beaumont, Texas, with operations starting as soon as 2025. Based in Singapore, Andrew oversees marketing activities for EMLAPs global equity LNG portfolio. Improved finished lubes margins partially offset lower industry basestock prices. Dollars in millions (except per share data), Earnings Excluding Identified Items Per Common Share1 (non-GAAP). Swiger joined Mobil in 1978 as an operations engineer in Morgan City, Louisiana, after receiving a petroleum engineering degree from the Colorado School of Mines. The main drivers were lower prices, with crude and natural gas realizations down 10% and 23%, respectively, and unfavorable unsettled derivatives mark-to-market effects of $2.0 billion, largely reflecting the absence of a positive mark-to-market impact in the prior quarter. Compared to the same quarter last year, earnings increased $2 billion. I thank Suzanne for her many contributions to the companys success during her career and wish her all the best in retirement.. Excluding the identified item associated with additional European taxes on the energy sector, earnings were $11.6 billion compared to $14.0 billion in the prior quarter. Identified Items (non-GAAP), Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd), Net natural gas production available for sale, million cubic feet per day (mcfd). Heres how to respond, Morrow Sodali top 40 activist quarterly ownership analysis - fourth quarter 2022, Cushman & Wakefield recruits general counsel, Applied Industrial Technologies hires new general counsel, Daimler Truck North America promotes general counsel to legal chief. She is currently pursuing a Doctor of Education in organizational change and leadership at the University of Southern California. Stay informed on the latest trends and developments Mikells holds an MBA from the University of Chicago. A reconciliation to earnings is shown for 2023 and 2022 periods in Attachments II-a and II-b. View the Cost of Living in Major Cities, Browse other Companies in the MFG Nondurable Industry, The CMO develops an end-to-end marketing function that delivers messaging, branding, digital presence, product support, demand generation, content, research, and thought leadership. Manager LNG Operations , Compared to the same quarter last year, earnings increased by $298 million, with favorable pricing actions partially offset by unfavorable foreign exchange impacts. , Earnings/(loss) excluding identified items does include non-operational earnings events or impacts that are generally below the $250 million threshold utilized for identified items. Morford was chief legal and compliance officer for Cardinal Health between 2008 and 2019. All Rights Reserved. Executive moves: Amazon, PayPal, Neiman Marcus, ExxonMobil Health. After four years of bringing best-in-class media planning and buying capabilities for both traditional and digital media under one roof, Nuckols will continue to be the driving force behind the unrivaled department. ExxonMobil Deputy General Counsel Elected to Become Legal Chief In addition, two new exploration discoveries were made this year. Actual future results, including financial and operating performance; total capital expenditures and mix, including allocations of capital to low carbon solutions; structural earnings improvement and structural cost reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, plans to reach net zero Scope 1 and 2 emissions in Upstream Permian Basin unconventional operated assets by 2030, eliminating routine flaring in-line with World Bank Zero Routine Flaring, reaching near-zero methane emissions from its operations, meeting ExxonMobils emission reduction goals and plans, divestment and start-up plans, and associated project plans as well as technology efforts; timing and outcome of projects related to the capture, transportation and storage of CO2, and produced biofuels; changes in law, taxes, or regulation including environmental and tax regulations, trade sanctions, and timely granting of governmental permits and certifications; timing and outcome of hydrogen projects; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; and resource recoveries and production rates could differ materially due to a number of factors. DuWest Realty, a Dallas-based retail brokerage firm with over 5 million square feet and 180 properties under their watch, has hired veteran leasing expert Giancarlo GC Carriero as vice president of retail brokerage. We explore for, produce and sell crude oil, natural gas and petroleum products. The board of directors has elected its current Deputy. Being a CMO builds and develops the teams and technology required to collect, test, measure, and analyze marketing metrics necessary to identify trends in the marketplace, program effectiveness, and consumer behavior. It is the CMO's role to identify our target market within each channel and create aspirational brand awareness, conversions and reducing costs for each customer acquisition. ExxonMobil's key executives include Darren W. Woods and 13 others. Net production in the first quarter was 3.8 million oil-equivalent barrels per day, an increase of nearly 160,000 oil-equivalent barrels per day compared to the same quarter last year. Swiger was elected senior vice president and a member of the management committee in 2009 and became principal financial officer in 2013. (Copyright 2023 Salary.com). ExxonMobil Corporations board has picked Craig Morford as the companys next vice president and general counsel. Hough is Foxtons director of finance and company secretary, and will take over from current CFO Richard Harris in April. To help you find the right contact for your request, take a look at our people profiles below. IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM): Dollars in millions (except per share data), Earnings Excluding Identified Items (non-GAAP), Earnings Excluding Identified Items Per Common Share (non-GAAP). Susan Simmons joins Agents National Title Insurance as its new Southwest agency operations manager. Our Client, an outsourced marketing service provider for law firms, is looking for a superstar chief marketing officer who can oversee and manage the company's marketing operation which includes Be the first to add EXXON MOBIL CORP CMO responsibilities. McCarron, who has been vice president since 2016, joined Mobil in 1998 as a manager in public affairs in Canada. Brings new meaning to the phrase Sunday Funday. Copyright 2003-2023 Exxon Mobil Corporation. Individual opportunities may advance based on a number of factors, including availability of supportive policy, technology for cost-effective abatement, and alignment with our partners and other stakeholders. https://events.irmagazine.com/mandaforum/, Executive compensation disclosure handbook, Investors are asking about ESG. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. DAmato will focus on the agencys global growth strategies as well as acquiring private equity accounts. Personnel Moves: ExxonMobil VP and General Counsel To Retire Previously, he served as vice president of strategic communications and external affairs of T.G.I. Going forward, Rea intends to continue to grow OneDays culture, guide their diversity, equity, and inclusion efforts, create a learning and development program, and start a program to give back to the Dallas community. 1 Scope 1 and 2 greenhouse gas emission estimates from ExxonMobil's operated assets (2022, compared to 2016 levels); the company is working to continuously improve its performance and methods to detect, measure and address greenhouse gas emissions. Sherri Evers was appointed vice-president, commercial and corporate development, effective January 1, 2021. Robinson, a vocal advocate for racial equity, will work within the communities. Corporate and affiliate officers | ExxonMobil (Chief Content Officer, Chief Marketing Officer, Chief Digital Officer) the COO will communicate, implement, and support the strategies .
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