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ExxonMobil first-quarter chemical earnings jump 62%

9:29 AM MDT | April 25, 2013 | Clay Boswell

ExxonMobil on Thursday reported a 62% year-over-year (YOY) increase first-quarter chemical segment earnings. Chemical earnings of $1.1 billion were $436 million higher than the first quarter of 2012, the company says. US earnings increased 74%, to $752 million, while non-US earnings increased 44%, to $385 million. Higher margins, mainly in commodities, increased earnings by $320 million, while other items, including gains on asset sales, contributed another $120 million. Chemical prime product sales fell 7% YOY to 5.9 million m.t. due mainly to restructuring...

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