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.
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 Mobil signals Q4 earnings to drop versus prior quarter
Exxon Mobil signaled on Tuesday that weaker oil prices and refining results would reduce its fourth-quarter earnings by about $1.6 billion from the previous quarter. The oil major also said in an SEC filing that it expects to take impairments in the quarter totaling about $600 million,
Exxon Warns of Weaker Q4 Profits Amid Lower Refining Margins
Exxon expects lower-than-expected fourth-quarter profits due to weaker refining margins and a $600 million impairment.
Exxon Mobil’s Q4 2024 Earnings Impact Preview
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Exxon signals weaker performance across the board to hurt Q4 profits
Exxon Mobil said on Tuesday changes in oil prices would ease its fourth-quarter upstream earnings by $500 million to $900 million.
ExxonMobil Says Lower Oil Prices Will Hit Q4 Earnings
ExxonMobil said it expects to take an up to $900 million hit to its upstream earnings in the fourth quarter versus the previous three months amid falling oil prices.
ExxonMobil Warns of Weak Q4 Profits Amid Global Oil Challenges
ExxonMobil's results, scheduled for release on Jan. 31, will serve as a bellwether for the oil industry, offering insights into the broader challenges faced by energy majors. In the third quarter, ExxonMobil posted $8.6 billion in earnings, but the current forecast signals a stark contrast as the company navigates a tough operating environment.
Shell Warns of Weaker Fourth Quarter LNG, Oil Trading
Shell, the world's largest LNG trader, said trading results for the division in the fourth quarter would be significantly lower than in the previous three months due to the expiry of hedging contracts Shell took in 2022 to protect itself against a potential loss of Russian production following the invasion of Ukraine.
Futures higher, Exxon Mobil flags hit to Q4 earnings - what's moving markets
By 03:28 ET, the US crude futures (WTI) climbed 0.8% to $74.87 a barrel, while the Brent contract rose 0.7% to $77.56 per barrel. Both contracts were close to their highest levels since mid-October.
Exxon Drops After Warning of Oil, Refining Hit to 4Q Profit
Exxon Mobil Corp.’s shares fell after the company warned its fourth-quarter earnings will take a hit from lower crude prices and narrowing refining margins during the final three months of 2024.
Goldman Sachs Flags Weak Q4 Guidance For Exxon Amid Weak Upstream And Chemical Results
Goldman Sachs analyst Neil Mehta expressed views on Exxon Mobil Corporation‘s (NYSE:XOM) trading update reported yesterday.
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 ...