Exxon expects to book a weaker profit for the fourth quarter of 2024 because of lower refining margins, the company said in an SEC filing this week, estimating the size of the negative impact at $1.75 billion. This impact would be partially offset by gains from upstream asset sales, the supermajor noted, but its fourth-quarter report would still feature an impairment to the tune of some $600 million. Reuters reported that LSEG estimates see Exxo…

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Exxon Warns of Weaker Q4 Profits Amid Lower Refining Margins

(Bloomberg) — Exxon Mobil Corp.’s shares fell after the company warned its fourth-quarter earnings will take a hit from lower crude prices and narrowing refining margins during the final three months of 2024.

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Exxon Drops After Warning of Oil, Refining Hit to 4Q Profit

HOUSTON,  (Reuters) – Exxon Mobil (XOM.N) signaled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth-quarter earnings by about US$1.75 billion from the prior quarter. The article Exxon signals weaker performance across the board to hurt Q4 profits appeared first on Stabroek News.

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Exxon signals weaker performance across the board to hurt Q4 profits

By Sheila Dang HOUSTON (Reuters) -Exxon Mobil signaled on Tuesday that sharply weaker oil refining results, asset impairments and lower oil prices would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter. The oil major also said in an SEC filing that the impairments would knock off about $600 million, mostly in the upstream business. The company’s filing did not specify a reason for the impairments.  Exxon is expect…

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Exxon slips after flagging weak fourth-quarter earnings on refining squeeze

On Tuesday, Exxon indicated fourth-quarter earnings would be about $1.75bln below the prior quarter's. Official results are due Jan. 31

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Wall Street cuts Exxon earnings views after fourth-quarter snapshot

ExxonMobil signaled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter.
The oil major also said in an SEC filing that upstream asset sales would benefit results by about $400 million, but overall impairments would cost about $600 million. The company’s filing did not specify a reason for the impairments.
Exxon’s snapshot …

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EXXONMOBIL signalled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth-quarter earnings by about US$1.75 billion from the prior quarter.

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ExxonMobil signals weaker performance across the board to hurt Q4 profits

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Exxon expects fourth-quarter earnings to be lower by about $1.75 billion from the prior quarter. For much of last year, Exxon and other oil majors faced reduced profitability from refining crude oil and selling petroleum products as a post-pandemic boom in demand ended. In the third quarter, Exxon's profits fell 5% than the year-ago quarter, while Chevron's tumbled 21%.

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Exxon slides after flagging weak fourth-quarter income on refining seize

(Reuters) –  Exxon Mobil  (NYSE:XOM) shares fell nearly 2% in early trading on Wednesday after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations. The earnings snapshot from the industry bellwether signaled a challenging environment as companies grapple with pricing pressure amid demand volatility. Exxon expects fourth-quarter earnings to be lower by about $1.75 billion …

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Investing Business Daily | Exxon slips after flagging weak fourth-quarter earnings on refining squeeze

Exxon Warns of Weaker Q4 Profits Amid Lower Refining Margins

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