| ExxonMobil’s Key Stats | |||
|---|---|---|---|
| Q4 2022 (est) | Q4 2021 | Q4 2020 | |
| Adjusted EPS | $3.27 | $2.06 | $0.03 |
| Revenue | $111B | $85B | $46.5B |
| Gross margin | 16.9% | 21.5% | 9.9% |
The results should mirror similar sales and profit gains from Exxon’s biggest rivals, underscoring the degree to which the war in Ukraine and the economic recovery from the pandemic sent prices for fossil fuels soaring in 2022. Exxon’s biggest U.S. competitor, Chevron (CVX), reported Friday its full-year 2022 profit increased 134%.
Oil and natural gas prices moderated in the fourth quarter compared with the months immediately following Russia’s February invasion of Ukraine, which disrupted global flows and created spot shortages of those key commodities.
But monthly prices for Brent crude oil, the global benchmark, still averaged $88.75 per barrel in the fourth quarter, up 12% from $79.58 per barrel in the fourth quarter of 2021. And even though U.S. natural gas prices fell throughout the fourth quarter amid warmer-than-expected conditions in the Northern Hemisphere, they concluded 2022 with an average annual increase of 53% compared with 2021.
ExxonMobil’s shares in 2022 reflected those price gains. The company’s shares rose 27% in the fourth quarter, ending the year with an 89% gain. The S&P 500 Energy Index, by comparison, rose 22% in the fourth quarter and 59% for 2022—the only one of 11 S&P 500 stock market sectors that avoided losses for…
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