- Exxon Mobil Corp (NYSE:XOM) has posted a Q3 profit of $4.45 per share, a robust increase over $1.58 a year ago versus the consensus of $3.65. But the company’s revenue, at $112.07 billion, jumped 52% Y/Y, missing the $115.60 billion analysts were expecting.
- Q3 earnings and cash flow from operating activities increased to $19.7 billion and $24.4 billion, respectively, as strong volume performance, including record refining volumes, cost control, and higher natural gas realizations, more than offset lower crude realizations and weaker industry refining margins.
- Also Read: Exxon Mobil Shows Initial Interest In Denbury Takeover.
- The oil giant raised the quarterly by $0.03 to $0.91 per share, payable on December 9th. The company said that the increase reflects confidence in its strategy, business performance, and financial strength.
- Exxon kept its capital investments at $5.73 billion for Q3 and $15.24 billion in 9M.
- The Permian delivered record production in the quarter of nearly 560,000 oil-equivalent barrels a day.
- Oil-equivalent production in the third quarter was 3.7 million barrels per day, +1.39% Y/Y.
- Price Action: XOM shares are up 0.68% at $106.60 during the premarket session on the last check Friday.
‘Puzzling,’ Says Analyst As Microsoft’s Valuation Double That Of Energy Companies Despite Generating Half Their Cash Flow
Microsoft's AI leverage has led to a surge in its stock, and analysts have begun debating about the sustainability of the upside.
