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Welp, here you go...

Discussion in 'Fred's House of Pancakes' started by Mystery Squid, Oct 27, 2005.

  1. Mystery Squid

    Mystery Squid Junior Member

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    In a SINGLE QUARTER at that...

    http://money.cnn.com/2005/10/27/news/fortu...dex.htm?cnn=yes

    Oh yeah, refining is at max capacity, the hurricanes shutdown major supply lines, the demand is just too great...

    hitler got ONE thing right, the biggest and best way to LIE is to make it public.

    :angry:
     
    #1 Mystery Squid, Oct 27, 2005
  2. Mystery Squid

    Mystery Squid Junior Member

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    "Exxon said it did not see the point of a windfall profits tax. "


    :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

    Yeah, no kidding. Neither would Bill Gates.
     
    #2 Mystery Squid, Oct 27, 2005
  3. Maytrix

    Maytrix Member

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    One thing is unclear from the article though. Is it profit or income?

    One statement refers to 9.9b in net income and then another refers to 9b in net profit. Both are very different I believe.
     
    #3 Maytrix, Oct 27, 2005
  4. fshagan

    fshagan Senior Member

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    Its skewed ... they historically do better in the 3rd quarter because of the increased summer gas use. The 9.9b is net income for the quarter on their gasoline business, but its something like 8.6b for their total business overall in the quarter. That's down from about 10% net to 8.6% net when you consider their non-oil businesses too.

    I suspect the full year's performance will be very similar on a percentage basis to the 2004 performance, which IIRC was about 5.68% net (IBT, I guess).

    Journalists love to tout "75% increase!" because they know it feeds the common feeling that "if I have to pay more, someone must be cheating me." Exxon is a public company, so anyone who wants part of the action can do so by calling a broker and buying their stock. They can share in the "75% increase!"

    BTW - its interesting that the 3rd quarter results are LOWER than expected by Wall Street analysts.
     
    #4 fshagan, Oct 28, 2005
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