ExxonMobil's Free Cash Flow Getting Squeezed? By Brian Gilmartin About this article: For Gilmartin's preview heading into the ExxonMobil conference call, please click here. ExxonMobil reported third-quarter 2009 earnings results that fell short of the consensus estimate of $1.03 per share, instead reporting EPS of 98 cents, despite quarterly revenue of $82.3 billion coming in nicely ahead of the $79.3 billion top-line consensus. Earnings fell 68% year over year, while revenue fell 40% year over year; both metrics rose on a sequential basis, however, with the bottom line seeing a 17% increase and the top line seeing a 10% spike. Expectations were very low coming into the call, especially after the tepid second-quarter results, but the culprit in terms of the earnings shortfall this quarter was lower production of 3%, which was a little lower than what analysts were modeling. In yesterday's ConocoPhillips results, production was up 5%, and I thought that might be a good leading indicator... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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