Exxon Mobil's profits fell dramatically in the third quarter as the company was hurt by lower prices for crude oil and natural gas.
"We feel really good about the volume growth that we see out there," said Neil Hansen, vice president of investor relations, on a conference call with investors."The resource continues to respond very well." Exxon earned 75 cents per share, down 49% from a year ago, which beat expectations of analysts polled by FactSet, who were expecting 69 cents per share. Its profits were helped by a favorable tax-related item of about $300 million.
On the conference call, Jason Gabelman, vice president with Cowen, said there's concern in the investment community that not all of Exxon's resources will be able to be developed because of concerns about greenhouse gases,"so your ability to develop a breakthrough technology I think would go a long way.
So after the 6 billion they saved on taxes last year. That puts them about equal to what they would have been. I'm an x oil supervisor. Watch my documentary about oil spill cover ups.
But they still making profit. Quite complaining. Some people dont make as much as your year end bonuses in their life time of working.
Awww... I’m sure they’ll be fine. 🙄
Oh,poor babies. they make millions off us by overcharging for gasoline that the make right in our state . NOT SORRY for them.
The take away here is: GAS PRICES ARE DOWN.
When low prices can cut your profits by 49% you’ve been over pricing for decades. If the prices weren’t profitable they wouldn’t sell it for that, they gauge the public every time something hits the news regardless if it effects production for them or not. Double their taxes!
Thanks Trump!!!!!
Sounds like it's time they invest in wind and solar technology instead.
They said profit dropped by 49% but they still made a profit
Clean up your budget for a long rainy day & stop the nonsense of paying billions every year to your CEO.s golden parachute, reality is here.
Ouchhhj
Unemployed people don't buy gas.
Same reason their commercials about alternate energy are BS. Because they suck the oil pump.
Gee they will only make 10 billion this year?
That's a good thing for Americans which you guys are not
Tough. Bonuses will still be in the MILLIONS. Yep.
🤷🏻♂️
Hey jkenney Should we be blaming the liberals and Trudeau or Notley for this too? KenneysRecession
Let it hit 25 a barrel and then we can play economic witch doctor.
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂🤧
So what, they only made 6 billion the last three months?
Hard to feel sad for an oil company problem is instead of the company executives taking a hit they will lay off 5k workers....
Never hurts to be part of a giant oligopoly.. They just raked in a little less than usual
Now everybody say, 'Thank you President Trump.'
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