Earnings Call Excerpt
Here’s the entire text of the prepared remarks from Exxon Mobil’s (ticker: XOM) Q3 2005 conference call. The Q&A is here. We recognize that this transcript may contain inaccuracies - if you find any, please post a comment below and we’ll incorporate your corrections. And please note: this conference call transcript is a Seeking Alpha product, so feel free to link to it but reproduction is not permitted without the explicit permission of Seeking Alpha.
Executives:
Henry Hubble, Vice President, Investor Relations & Secretary
Analysts:
Doug Terreson, Morgan Stanley
Bruce Lanni, AG Edwards
Arjun Murti, Goldman Sachs
Doug Leggate, Citigroup
Paul Cheng, Lehman Brothers
Nicole Decker, Bear Stearns
Mark Flannery, Credit Suisse First Boston
Neil McMahon, Sanford Bernstein
Paul Sankey, Deutsche Bank
Mark Gilman, Benchmark Capital
Jennifer Rowland, JP Morgan
John Herrlin, Merrill LynchPresentation:
Operator
I would like to turn the call over to the Vice President of Investor relations and secretary Mr. Henry Hubble, please go ahead Sir.
Henry Hubble, Vice President, Investor Relations & Secretary
Good morning and welcome to ExxonMobiles teleconference on our third quarter 2005 financial and operating results. Overall we had a strong quarter, we achieved a number of important milestones while successfully dealing with the many challenges brought about by the Hurricanes. I will have more to say about those in a few minutes.
Before I start I’d like to draw your attention to our safe harbor language. Please note that estimates, plans and projections are forward-looking statements. Actual results including resource recoveries volume growth and product outcomes could differ materially to the factors I discussed and factors noted in our SEC filings. Please see filings stated factors affecting future results and the Form 8-K we furnished this morning, which are available through the investor information section of our website. Please also see the frequently used terms the supplement to this morning 8-K and the 2004 financial and operating review on our website.
This material defines certain financial and operating terms that we use today, shows Exxon Mobil’s net interest in specific projects and includes information required by SEC regulations G.
Now I am pleased to turn your attention to the specific results. It has been a quarter, marked by strong commodity prices, operating and supply challenges due to the hurricanes and the achievement of several important project milestones. Exxon Mobiles third quarter net income was $9.9 billion or $1.58 per share. These results include a $1.6 billion dollar gain from the transfer of our 25% interest in a Dutch gas transportation business.
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