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Exxon Mobil (XOM) Loses Ground as Q1 Earnings Miss Estimates
Earnings Miss: Irving, TX-based Exxon Mobil Corporation (XOM - Free Report) reported earnings per share at $1.09, below the Zacks Consensus Estimate of $1.14. Following the underperformance, the stock fell more than 2% in the pre-market trading.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been revised downward over the last seven days.
Moreover, Exxon Mobil’s earnings surprise history is not impressive. The company failed to beat the Zacks Consensus Estimate in two of the last four quarters, the average negative earnings surprise being 1.7%.
Exxon Mobil Corporation Price and EPS Surprise
Exxon Mobil Corporation Price and EPS Surprise | Exxon Mobil Corporation Quote
Revenue: Revenues of $68,211 million were higher than the Zacks Consensus Estimate of $66,070 million.
Key Stats: Production averaged 3.889 million barrels of oil-equivalent per day (MMBOE/d), lower than 4.151 MMBOE/d in the year-ago quarter. Liquid production fell year over year to 2.216 million barrels per day. Also, natural gas production was 10.038 MMCF/d (millions of cubic feet per day), down from 10.908 MMCF/d in the year-ago period.
Zacks Rank: Currently, Exxon Mobil has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2018 report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this ExxonMobil’s earnings report later!
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