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    Home » Exxon Mobil Earnings Report
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    Exxon Mobil Earnings Report

    July 28, 20232 Mins Read
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    Exxon Mobil, symbolized by XOM, is set to release its earnings report on Friday morning. The market anticipates a profit of $2.03 per share accompanied by $81.8 billion in sales for this quarter. These figures indicate a decline from the previous year’s performance of $4.14 per share and $115.7 billion in revenue. Notably, consensus estimates for Exxon’s earnings have been revised downwards by 12% over the past month.

    The downward trajectory of Exxon’s stock price over the last three months further confirms the prevailing low expectations among investors. With an 8.9% decrease in value during this period, it is evident that market participants are not anticipating substantial positive outcomes. This sentiment is particularly noteworthy when compared to the 11% rise in the S&P 500 and 5.1% increase in the Dow Jones Industrial Average over the same period.

    A recent 8K filing by Exxon on July 13, related to its acquisition of Denbury Resources (DNR), contributed to the diminished expectations. RBC analyst Biraj Borkhataria acknowledges that current earnings forecasts are achievable, and he predicts that buybacks and dividends will remain relatively stable.

    In contrast, Chevron (CVX) released its earnings report earlier, accompanied by updates on management changes, and has experienced a 1.8% increase in stock value this week. Exxon, on the other hand, has witnessed a slightly stronger gain of 2.2%.

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