Exxon Mobil Corp. XOM said it expects changes in liquids and gas prices to reduce fourth-quarter earnings by up to $4.1 billion when compared with third-quarter results. The oil giant’s stock rose 0.7% in premarket trading. The company provided late Wednesday factors that affected fourth-quarter earnings, since the company reported third-quarter net earnings of $19.7 billion. Changes in liquids prices are expected to reduce fourth-quarter earnings by $1.7 billion to $1.
The company provided late Wednesday factors that affected fourth-quarter earnings, since the company reported third-quarter net earnings of $19.7 billion. Changes in liquids prices are expected to reduce fourth-quarter earnings by $1.7 billion to $1.3 billion and gas price changes are expected to reduce earnings by $2.4 billion to $2.0 billion. Among other factors seen affecting Q4 results, estimated year-end inventory effects are seen reducing earnings by $1.