We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ExxonMobil (XOM) to Report Q2 Earnings: What's in the Offing?
Read MoreHide Full Article
Exxon Mobil Corporation (XOM - Free Report) is set to report second-quarter 2023 earnings on Jul 28, before the opening bell.
In the last reported quarter, the integrated energy giant’s earnings per share of $2.83, excluding identified items, beat the Zacks Consensus Estimate of $2.65. Strong earnings resulted from solid contributions from the Energy Products business line. This was offset partially by lower earnings from upstream operations.
ExxonMobil beat the Zacks Consensus Estimate in the trailing four quarters, delivering a surprise of 8.2%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for ExxonMobil’s second-quarter earnings per share of $2.12 has witnessed two upward movements and four downward revisions over the past 30 days. The estimated figure suggests a 48.8% decline from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $80 billion indicates a 30.8% decline from the year-ago reported figure.
Factors to Consider
In the June-end quarter, the oil price scenario was not healthier than the prior-year quarter. Thus, the average realized crude prices, one of the key metrics in determining crude oil sales, are likely to have declined.
The Zacks Consensus Estimate for ExxonMobil’s daily production volumes is pegged at 3,730 thousand barrels of oil equivalent per day (MBoe/d), suggesting a slight decline from 3,732 MBoe/d reported in the year-ago quarter. Our estimate for the company’s daily production volumes is pinned at 3,720.8 MBoe/d, also indicating a decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for ExxonMobil’s earnings after income tax from the upstream segment is pegged at $4,982 million, suggesting a significant decline from $11,371 million reported in the year-ago quarter. Our estimate for the same is pinned at $5,600 million, also indicating a decline from the prior-year quarter’s reported figure.
Lower production and prices are likely to have affected ExxonMobil’s upstream operations in the second quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for ExxonMobil this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here.
Earnings ESP: ExxonMobil has an Earnings ESP of -2.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ExxonMobil currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 73 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +5.17% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 9 cents per share, suggesting a decline from the prior-year reported figure.
Murphy USA Inc. (MUSA - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #2.
The company is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $6.11 per share, suggesting a decline from the prior-year reported figure.
Image: Bigstock
ExxonMobil (XOM) to Report Q2 Earnings: What's in the Offing?
Exxon Mobil Corporation (XOM - Free Report) is set to report second-quarter 2023 earnings on Jul 28, before the opening bell.
In the last reported quarter, the integrated energy giant’s earnings per share of $2.83, excluding identified items, beat the Zacks Consensus Estimate of $2.65. Strong earnings resulted from solid contributions from the Energy Products business line. This was offset partially by lower earnings from upstream operations.
ExxonMobil beat the Zacks Consensus Estimate in the trailing four quarters, delivering a surprise of 8.2%, on average. This is depicted in the graph below:
Exxon Mobil Corporation Price and Consensus
Exxon Mobil Corporation price-consensus-chart | Exxon Mobil Corporation Quote
Estimate Trend
The Zacks Consensus Estimate for ExxonMobil’s second-quarter earnings per share of $2.12 has witnessed two upward movements and four downward revisions over the past 30 days. The estimated figure suggests a 48.8% decline from the prior-year reported number.
The Zacks Consensus Estimate for second-quarter revenues of $80 billion indicates a 30.8% decline from the year-ago reported figure.
Factors to Consider
In the June-end quarter, the oil price scenario was not healthier than the prior-year quarter. Thus, the average realized crude prices, one of the key metrics in determining crude oil sales, are likely to have declined.
The Zacks Consensus Estimate for ExxonMobil’s daily production volumes is pegged at 3,730 thousand barrels of oil equivalent per day (MBoe/d), suggesting a slight decline from 3,732 MBoe/d reported in the year-ago quarter. Our estimate for the company’s daily production volumes is pinned at 3,720.8 MBoe/d, also indicating a decline from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for ExxonMobil’s earnings after income tax from the upstream segment is pegged at $4,982 million, suggesting a significant decline from $11,371 million reported in the year-ago quarter. Our estimate for the same is pinned at $5,600 million, also indicating a decline from the prior-year quarter’s reported figure.
Lower production and prices are likely to have affected ExxonMobil’s upstream operations in the second quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for ExxonMobil this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here.
Earnings ESP: ExxonMobil has an Earnings ESP of -2.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ExxonMobil currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +3.43% and a Zacks #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 73 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +5.17% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 9 cents per share, suggesting a decline from the prior-year reported figure.
Murphy USA Inc. (MUSA - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #2.
The company is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $6.11 per share, suggesting a decline from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.