Exxon Mobil Signals Lower Q4 Earnings. Here’s What Analysts Are Saying.
Exxon Mobil profits will likely miss fourth-quarter-earnings estimates by close to 20%, one analyst argued as he trimmed his numbers. While Exxon Mobil expects changes in gas prices to improve earnings by up to $400 million,
Exxon expects reduced Q4 earnings from lower oil prices, refining squeeze
Exxon Mobil (NYSE:XOM) -1.4% in Wednesday's trading after saying its Q4 earnings were hurt by lower crude prices and narrower refining margins, in a sign that the quarter may have been a tough one for the big oil companies.
ExxonMobil Says Lower Oil Prices Will Hit Q4 Earnings
KEY TAKEAWAYS ExxonMobil said it expects to take an up to a $900 million hit to its upstream earnings in the fourth quarter versus the previous three months amid falling oil prices.Lower liquids prices are set to bring down its upstream earnings by between $500 million to $900 million in the fourth quarter of 2024 compared with the third quarter.
Exxon signals weaker performance across the board to hurt Q4 profits
Exxon Mobil signaled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter. The oil major also said in an SEC filing that upstream asset sales would benefit results by about $400 million,
Exxon Mobil estimates effects of market factors impacting Q4 results
The company sees change in Liquids (oil) prices negatively impact Q4 earnings by $0.9B to $0.5B and change in gas prices impact Q3 earnings by
ExxonMobil Warns of Weak Q4 Profits Amid Global Oil Challenges
Exxon Mobil Corporation XOM has projected a sharp decline in its fourth-quarter earnings due to weak performance across all its business segments, including significant headwinds in refining and chemicals.
Exxon Mobil signals oil refining results to hurt Q4 profits
Exxon Mobil signaled on Tuesday that sharply weaker oil refining results, asset impairments and lower oil prices would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter.
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