Sign in Subscribe
Petroleum industry

Mobil Reports Strong Third Quarter Operating Income

Strategic Insights

— 1 min read

Mobil's Chairman Lucio A. Noto recently announced estimated third-quarter operating income of $744 million, a significant increase of 41% from the same period last year. The company's strong performance was driven by higher income in both the downstream petroleum and chemical sectors. The results were bolstered by excellent operating performance, lower expenses, and higher lube income in the U.S., as well as improved petrochemical industry conditions in chemicals.

Key Takeaways:

  • Mobil's third-quarter operating income increased by 41% to $744 million, driven by higher income in both the downstream petroleum and chemical sectors.
  • Chairman Lucio A. Noto attributed the strong performance to excellent operating performance, lower expenses, and higher lube income in the U.S., as well as improved petrochemical industry conditions in chemicals.
  • The company's estimated return on average shareholders' equity for the twelve months ended September 30, 1995, was 12.2%, compared with 10.4% for calendar year 1994.
  • Estimated return on average capital employed for the twelve months ended September 30, 1995, was 9.6%, compared with 8.4% for calendar year 1994.
  • Mobil's estimated debt to capitalization ratio was 30% at September 30, 1995, and 31% at December 31, 1994.
  • Common stock dividends for the third quarter of 1995 were $0.925 per share, up 7.5 cents from the comparable period last year, and $2.70 per share for the first nine months of 1995, up 15 cents from the comparable period last year.
  • The company announced an agreement to sell Mobil Chemicals' Plastic Division for $1.27 billion, which is expected to be completed in the fourth quarter and provide funds for growth opportunities in the company's core businesses.

Statistics:

  • Estimated third-quarter operating income: $744 million
  • Increase in third-quarter operating income compared to the same period last year: 41%
  • Estimated return on average shareholders' equity for the twelve months ended September 30, 1995: 12.2%
  • Estimated return on average capital employed for the twelve months ended September 30, 1995: 9.6%
  • Estimated debt to capitalization ratio at September 30, 1995: 30%
  • Common stock dividends for the third quarter of 1995: $0.925 per share
  • Common stock dividends for the first nine months of 1995: $2.70 per share

Sources:

  • NYSE: MOB
  • Mobil Corp., Fairfax John Lord or Gail Campbell Woolley, 703/846-2500

Read more