exxonmobil earnings

 

exxonmobil earnings

Exxon Mobil Corporation (XOM) reported its second-quarter 2023 earnings on July 28, 2023. The company's earnings per share (EPS) of $1.94 missed analyst expectations of $2.01. Revenue of $80.8 billion also fell short of expectations of $82 billion.

The company's earnings were impacted by lower oil and gas prices. The average price of Brent crude oil was $103.22 per barrel in the second quarter, down from $112.67 per barrel in the first quarter. The average price of West Texas Intermediate (WTI) crude oil was $100.51 per barrel in the second quarter, down from $110.26 per barrel in the first quarter.

Despite the lower earnings, Exxon Mobil's CEO Darren Woods said that the company is "well-positioned for the future." He noted that the company's upstream business is "performing well" and that its downstream business is "benefiting from strong refining margins."

Woods also said that Exxon Mobil is "committed to investing in the energy transition." He noted that the company is investing in renewable energy and carbon capture and storage technologies.

Exxon Mobil's stock price fell by about 2% in after-hours trading following the release of the earnings report.

Exxon Mobil Earnings Estimates

Earnings Estimate	Average Estimate	Low Estimate	High Estimate	Year Ago EPS
Current Qtr. (Jun 2023)	2.01	1.92	2.27	4.14
Next Qtr. (Sep 2023)	2.09	1.83	2.46	4.45

Exxon Mobil Corp

Symbol	Name	Industry	Market Cap	Price
XOM	Exxon Mobil Corp	Oil & Gas	$350.4 billion	$91.54

Exxon Mobil Associated Markets

Market	Symbol
New York Stock Exchange	XOM
London Stock Exchange	XOM.L
Tokyo Stock Exchange	9501.T