Exxon Mobil: Oil price fluctuations will boost third-quarter profits
Exxon Mobil stated in a filing submitted to the U.S. Securities and Exchange Commission (SEC) after the U.S. stock market closed on Monday that it expects changes in crude oil prices to increase its third-quarter earnings by up to $300 million compared to the second quarter. Exxon Mobil noted that fluctuations in crude oil prices could have an earnings impact ranging from negative $100 million to positive $300 million, and it anticipates that the impact of natural gas prices on earnings in the third quarter will be smaller, ranging from negative $200 million to positive $200 million. The company also mentioned that refining margins have rebounded this quarter, contributing $300 million to $700 million to earnings; the chemicals sector has seen a smaller increase due to margin improvements, approximately $100 million to $300 million. The company simultaneously pointed out that restructuring costs could have a negative impact of $400 million to $600 million on overall earnings. Exxon Mobil is scheduled to release its third-quarter results on October 31. Analysts expect the company's adjusted earnings per share to be around $1.79
According to the Zhitong Finance APP, Exxon Mobil (XOM.US) stated in a document submitted to the U.S. Securities and Exchange Commission (SEC) after the U.S. stock market closed on Monday that it expects changes in crude oil prices to increase its third-quarter earnings by up to $300 million compared to the second quarter.
Exxon Mobil mentioned that changes in crude oil prices could have an earnings impact ranging from a negative $100 million to a positive $300 million, and it expects the impact of natural gas prices on earnings in the third quarter to be relatively small, between a negative $200 million and a positive $200 million. The company also stated that refining margins have rebounded this quarter, contributing $300 million to $700 million to earnings; the chemical sector has seen a smaller increase due to margin improvements, approximately $100 million to $300 million. The company simultaneously pointed out that restructuring costs could have a negative impact of $400 million to $600 million on overall earnings.
Exxon Mobil will release its third-quarter results on October 31. Analysts expect the company's adjusted earnings per share to be around $1.79
