ExxonMobil: a little anxiety as we await results
(CercleFinance.com) - ExxonMobil shares were down on Monday morning on the New York Stock Exchange following the release of its key business indicators for the second quarter, which could point to potentially disappointing results when they are published at the end of the month.
In its so-called '8-K' form, which contains preliminary financial information submitted to the US stock exchange authorities, Exxon says it expects to produce between 500,000 and 550,000 barrels of oil equivalent per day from April to June.
This figure takes into account the integration of Pioneer's performance over two months, as well as quarterly capital expenditure, currently estimated at between $700 and $900 million, the oil giant says.
'Taking into account the midpoints of the elements provided by the group for all these factors (including derivatives, but excluding exceptional items), we anticipate second-quarter net earnings of around $8.3 billion (around $1.95 per share), adjusted for calendar effects', RBC analysts point out.
However, the research firm points out that this figure is well below the current consensus, which is targeting around $2.20.
As a result, ExxonMobil shares were down around 0.5% in early trading on Monday.
Copyright (c) 2024 CercleFinance.com. All rights reserved.