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Atomic Insights

Atomic energy technology, politics, and perceptions from a nuclear energy insider who served as a US nuclear submarine engineer officer

Exxon-Mobil sales top $100 BILLION

October 28, 2005 By Rod Adams

Exxon-Mobil executives and stock holders will not be hurting this winter. On October 27, 2005 the company released its 3rd Quarter 2005 earnings report. For the first time ever, a publicly traded corporation reported top line revenue exceeding $100 BILLION dollars. A good portion of that top line fell to the bottom line – earnings rose 75% over the same quarter last year, totalling $9.92 BILLION.

Those numbers are quite mind boggling. Here are some comparisons to state government revenues for three rather large states:

Annual state government revenue for all of 2004 Population (2000 census)
California $89.27 Billion 33,871,658
Texas $62.07 Billion 20,851,720
New York $100.17 Billion 18,946,457
Florida $30.76 Billion 15,982,378

Now compare that to the following:

Exxon-Mobil July-Sept 2005 – $100.72 Billion – number of employees – 105,200

In other words, it was a close race, but a company with just over 105,00 full time employees received more revenue during a single three month period than the richest of the four largest states in the US did during an entire year.

Neil Cavuto may disagree, but I think that indicates a rather significant economic problem. (Yesterday, on Your World, Neil Cavuto thought that Exxon-Mobil’s profits were only fair and tried to claim that they were only profiting 5 cents on the dollar. Both his facts and his understanding of those facts are subject to question.)

References:

  • Texas State Revenue by Source 1978-2004
  • Florida Department of Revenue 2004 Annual Report
  • State of California Budgetary/Legal Basis Annual Report for Fiscal Year ending June 30, 2004
  • New York State 2004 Revenue Report
  • Exxon-Mobil Profile on Yahoo Finance

Filed Under: Uncategorized

About Rod Adams

Atomic energy expert with small nuclear plant operating and design experience. Financial, strategic, and political analyst. Former submarine Engineer Officer. Founder, Adams Atomic Engines, Inc. Host and producer, The Atomic Show Podcast. Resume available here.

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