ExxonMobil: some anxiety pending results
(CercleFinance.com) - ExxonMobil shares fell on Monday in New York, following the release of its key business indicators for Q2, 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 capex, which is currently estimated at $700m to $900m, 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 Q2 net earnings of around $8.3bn (around $1.95 per share), adjusted for calendar effects, RBC analysts point out.
However, the broker says that this figure is well below the current consensus of around $2.20.
As a result, ExxonMobil shares closed down 1.2% on Monday.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
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 capex, which is currently estimated at $700m to $900m, 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 Q2 net earnings of around $8.3bn (around $1.95 per share), adjusted for calendar effects, RBC analysts point out.
However, the broker says that this figure is well below the current consensus of around $2.20.
As a result, ExxonMobil shares closed down 1.2% on Monday.
Copyright (c) 2024 CercleFinance.com. All rights reserved.