ExxonMobil NYSE XOM reported on Friday underwhelming earnings for the first quarter that were lower than consensus estimates, due to declining natural gas prices and refining margins and non-cash adjustments. The U.S. supermajor booked first-quarter earnings of $8.2 billion, down from $11.4 billion for the first quarter of 2023. Earnings per share were $2.06 for the first quarter of 2024, down from $2.79 for the same period last year.
Strong production growth in Exxon’s Guyana assets only partially offset lower natural gas realizations in the upstream and weaker industry refining margins and unfavorable timing effects in the downstream.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shell Expects Lower Q1 Earnings From Natural Gas TradingShell expects the trading results in its Integrated Gas division to be lower in the first quarter of 2024 compared the fourth quarter of 2023.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Refining Giant Phillips 66 Books Lower-Than-Expected EarningsPhillips 66 reported lower-than-forecast profits for the first quarter of the year, with refinery maintenance affecting product sales.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Equinor Beats Q1 Earnings Expectations as Oil and Gas Output JumpsEquinor reported consensus-beating earnings for the first quarter of 2024 on the back of higher production in Norway and rising oil prices
Source: OilandEnergy - 🏆 34. / 68 Read more »
Baker Hughes Reports Forecast-Beating Earnings in Q1Baker Hughes has become the latest oilfield services giant to report forecast-beating earnings in the first quarter amid strong international demand for services.
Source: OilandEnergy - 🏆 34. / 68 Read more »
U.S. Refiners Set to Report Strong Q1 EarningsU.S. Refiners Set to Report Strong Q1 Earnings
Source: OilandEnergy - 🏆 34. / 68 Read more »
Renewables Giant NextEra Books Higher-Than-Expected Q1 EarningsNextEra Energy Inc. reported on Tuesday an 8.3% annual increase in its adjusted earnings per share for the first quarter,
Source: OilandEnergy - 🏆 34. / 68 Read more »