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Exxon Mobil (NYSE:XOM) can post slightly weaker earnings in Q4 quarter-on-quarter, as lower energy prices had a negative Q/Q impact on earnings of $3.3 billion-$4.1 billion, according to a report. 8 CZK file Wednesday.
Exxon (XOM) predicts the impact from lower natural gas prices to be in the $2B-$2.4B range, while lower crude oil prices account for $1.3B-$1.7B, but the loss is partially offset by $1, 3B-$1.5B in market derivatives profit upstream review, earnings preview said.
The spike in oil prices that fueled gains for most of 2022 cooled down in Q4, with Brent futures ending the year at $77.17 a barrel after hitting nearly $140 in March, while Natural gas ended the year with a strong gain, up more than 20%.
by Exxon (XOM) Q4 results will likely surpass the company’s most profitable year ever, with analysts’ median estimates compiled by Bloomberg indicates full-year net income of more than $58 billion.
Exxon Mobil (XOM) is in growth mode over the next few years, aiming to lift production from 3.7 million bpd to 4.3 million bpd, Fluidsdoc wrote in a report. New analysis published on Seeking Alpha.
