The petroleum company had to deal with severely reduced demand for crude oil brought about by the COVID-19 pandemic. Here’s a look at ExxonMobil’s four quarters’ performance from 2020:
- For Q1 2020, ExxonMobil reported a loss amounting to $610 million. For Q1 2019, the company had reported earnings worth $2.4 billion. This was the result of the COVID-19 pandemic weakening crude oil demand around the globe.
- For Q2 2020, the company reported earnings worth $1.08 billion, compared to $3.13 billion in Q2 2019. It was a loss this quarter too as a result of the overall lesser demand brought about by COVID-19 while there was a global oversupply.
- Q3 2020 saw ExxonMobil reporting another loss of $680 million compared to Q3 2019 earnings of $3.17 billion. Despite the third straight quarter of loss, the company did experience a $400 million improvement in the results from the second quarter.
- ExxonMobil continued to experience loss for Q4 2020, at $20.1 billion.
The tractor and farm equipment manufacturer also struggled with the reduced demand as a result of COVID-19, particularly in Q2 and Q3. However, the company gradually picked up in Q4:
- For Q1 2020, John Deere reported net income worth $517 million. This was more than the net income of $498 million reported for Q1 2019. While global revenues and net sales dropped 4% to hit $7.631 billion, net sales from equipment operations also dropped from 2019’s figure of $6.941 billion to $6.530 billion.
- Q2 2020 saw John Deere reporting net income worth $665.8 million, significantly lesser than the $1.135 billion earned in Q2 2019. Globally, there was a decline of 18% in revenues and net sales, hitting $9.253 billion. Net sales from equipment operations were reported at $8.224 billion, lower than the $10.273 billion reported in Q2 2019.
- For Q3 2020, John Deere earned net income of $811 million, lesser than the $899 earned in Q3 2019. Global revenues and net sales were reported at $8.925 billion, a 11% decline from Q3 2019. Net sales from equipment operations dropped from $8.969 billion in Q3 2019 to $7.859 billion.
- During Q4 2020, the company earned net income worth $757 million, a 5% growth over the $722 million earned in Q4 2019. Global revenues and net sales dropped 2% year-over-year to register $9.731 billion. Net sales from equipment operations amounted to $8.659 billion compared to $8.703 billion in Q4 2019.
Chemical and paint company DuPont had to deal with reduced sales as a result of COVID-19. Here’s how it performed in all quarters of 2020:
- For Q1 2020, the paint manufacturer reported earnings worth $5.22 billion, 4% less than Q1 2019 earnings of $5.41 billion.
- During Q2 2020, DuPont reported net sales worth $4.8 billion, a 12% year-over-year drop with organic sales also down 10%. The company also reported GAAP loss of $2.5 billion from continuing operations.
- For Q3 2020, DuPont reported net sales worth $5.1 billion, a year-over-year drop of 6%. GAAP loss was reported at $72 million from continuing operations.
- Q4 2020 saw DuPont reporting net sales worth $5.3 billion, a year-over-year rise of 1%. Organic sales showed neither improvement nor deterioration from the year-ago period. GAAP income was reported at $279 million from continuing operations.
Philip Morris ($PMI)
The tobacco conglomerate had a challenging 2020 as the industry had to grapple with the global pandemic:
- For Q1 2020, Philip Morris earned net revenue worth $7.153 billion compared to $6.751 billion in Q1 2019.
- Q2 2020 net revenue for the company was $6.6 billion, a 13.6% year-over-year drop. GAAP net income was reported at $1.94 billion.
- During Q3 2020, the company reported diluted EPS worth $1.48 and adjusted diluted EPS worth $1.42. Net revenue was reported at $7.44 billion, a 2.6% drop from Q3 2019’s figure of $7.64 billion.
- For Q4 2020, Philip Morris earned net revenue worth $7.44 billion, a 3.5% drop from Q4 2019’s figure of $7.71 billion.
Make such objective data work to your advantage. Select an experienced online stock broker here to help you trade effectively with all the resources at hand.
The content of this message and its attachments are intended only for the informational and educational use for the intended recipient and may contain confidential and privileged information. If you are not the intended recipient, any dissemination, distribution, or copying of this message or its attachments is prohibited. If you received this message in error, please notify the sender by replying to this email immediately and delete this message and its attachments from your computer. This content does not constitute an offer to sell or a solicitation to buy any security or instrument which may be referenced upon the site, or an offer to provide advisory or other services by the writer or company employing the writer in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. All communications sent to or from TradeZero, Inc. are subject to archive and review by TradeZero, Inc. and by regulatory and law enforcement authorities. We explicitly disclaim all liability for any action taken based on any information contained in this writing.