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Compared to Estimates, Exxon (XOM) Q3 Earnings: A Look at Key Metrics
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Exxon Mobil (XOM - Free Report) reported $90.76 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 19%. EPS of $2.27 for the same period compares to $4.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $89.29 billion, representing a surprise of +1.65%. The company delivered an EPS surprise of -3.81%, with the consensus EPS estimate being $2.36.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Exxon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Oil-equivalent production per day: 3,688 KBOE/D versus 3,722.27 KBOE/D estimated by six analysts on average.
Natural gas production available for sale per day - Worldwide: 7,748 Mcf/D compared to the 7,789.09 Mcf/D average estimate based on five analysts.
Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - Worldwide: 2397 thousands of barrels of oil versus 2425.31 thousands of barrels of oil estimated by five analysts on average.
Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - Africa: 229 thousands of barrels of oil versus the four-analyst average estimate of 231.4 thousands of barrels of oil.
Chemical Products sales- Worldwide: $5.11 billion versus the three-analyst average estimate of $5.64 billion.
Specialty Products sales- Non-U.S. $1.41 billion versus the three-analyst average estimate of $1.42 billion.
Specialty Products sales- Worldwide: $1.91 billion versus the three-analyst average estimate of $1.93 billion.
Specialty Products sales- United States: $498 million versus $504.01 million estimated by three analysts on average.
Chemical Products sales- Non-U.S. $3.36 billion versus $3.09 billion estimated by two analysts on average.
Revenues- Sales and other operating revenue: $88.57 billion compared to the $88.24 billion average estimate based on five analysts. The reported number represents a change of -16.9% year over year.
Revenues- Other income: $733 million versus the three-analyst average estimate of $809.58 million. The reported number represents a year-over-year change of -20.8%.
Revenues- Income from equity affiliates: $1.46 billion versus $1.38 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -68.5% change.
Shares of Exxon have returned -9.9% over the past month versus the Zacks S&P 500 composite's -2.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Exxon (XOM) Q3 Earnings: A Look at Key Metrics
Exxon Mobil (XOM - Free Report) reported $90.76 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 19%. EPS of $2.27 for the same period compares to $4.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $89.29 billion, representing a surprise of +1.65%. The company delivered an EPS surprise of -3.81%, with the consensus EPS estimate being $2.36.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Exxon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Oil-equivalent production per day: 3,688 KBOE/D versus 3,722.27 KBOE/D estimated by six analysts on average.
- Natural gas production available for sale per day - Worldwide: 7,748 Mcf/D compared to the 7,789.09 Mcf/D average estimate based on five analysts.
- Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - Worldwide: 2397 thousands of barrels of oil versus 2425.31 thousands of barrels of oil estimated by five analysts on average.
- Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - Africa: 229 thousands of barrels of oil versus the four-analyst average estimate of 231.4 thousands of barrels of oil.
- Chemical Products sales- Worldwide: $5.11 billion versus the three-analyst average estimate of $5.64 billion.
- Specialty Products sales- Non-U.S. $1.41 billion versus the three-analyst average estimate of $1.42 billion.
- Specialty Products sales- Worldwide: $1.91 billion versus the three-analyst average estimate of $1.93 billion.
- Specialty Products sales- United States: $498 million versus $504.01 million estimated by three analysts on average.
- Chemical Products sales- Non-U.S. $3.36 billion versus $3.09 billion estimated by two analysts on average.
- Revenues- Sales and other operating revenue: $88.57 billion compared to the $88.24 billion average estimate based on five analysts. The reported number represents a change of -16.9% year over year.
- Revenues- Other income: $733 million versus the three-analyst average estimate of $809.58 million. The reported number represents a year-over-year change of -20.8%.
- Revenues- Income from equity affiliates: $1.46 billion versus $1.38 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -68.5% change.
View all Key Company Metrics for Exxon here>>>Shares of Exxon have returned -9.9% over the past month versus the Zacks S&P 500 composite's -2.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.