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Exxon (XOM) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates

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Wall Street analysts expect Exxon Mobil (XOM - Free Report) to post quarterly earnings of $1.49 per share in its upcoming report, which indicates a year-over-year decline of 30.4%. Revenues are expected to be $82.82 billion, down 11% from the year-ago quarter.

The consensus EPS estimate for the quarter has been revised 10.7% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

That said, let's delve into the average estimates of some Exxon metrics that Wall Street analysts commonly model and monitor.

The combined assessment of analysts suggests that 'Revenues- Other income' will likely reach $618.89 million. The estimate suggests a change of -53.5% year over year.

The collective assessment of analysts points to an estimated 'Revenues- Sales and other operating revenue' of $80.11 billion. The estimate suggests a change of -11% year over year.

It is projected by analysts that the 'Revenues- Income from equity affiliates' will reach $1.56 billion. The estimate indicates a year-over-year change of -10.4%.

The consensus among analysts is that 'Revenues- Sales and other operating revenue- Energy Products' will reach $61.18 billion. The estimate points to a change of -11.9% from the year-ago quarter.

The consensus estimate for 'Revenues- Sales and other operating revenue- Energy Products- United States' stands at $24.24 billion. The estimate suggests a change of -8.2% year over year.

Analysts forecast 'Revenues- Sales and other operating revenue- Energy Products- Non-U.S.' to reach $36.94 billion. The estimate points to a change of -14.1% from the year-ago quarter.

Based on the collective assessment of analysts, 'Revenues- Sales and other operating revenue- Chemical Products- United States' should arrive at $1.97 billion. The estimate indicates a year-over-year change of -11.2%.

According to the collective judgment of analysts, 'Revenues- Sales and other operating revenue- Upstream- United States' should come in at $6.04 billion. The estimate suggests a change of -10.3% year over year.

Analysts' assessment points toward 'Oil-equivalent production per day' reaching 4547 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 4358 thousands of barrels of oil equivalent per day.

The average prediction of analysts places 'Natural gas production available for sale per day - Europe' at 285 thousands of cubic feet per day. Compared to the present estimate, the company reported 331 thousands of cubic feet per day in the same quarter last year.

Analysts predict that the 'Natural gas production available for sale per day - Africa' will reach 147 thousands of cubic feet per day. Compared to the present estimate, the company reported 167 thousands of cubic feet per day in the same quarter last year.

Analysts expect 'Natural gas production available for sale per day - Asia' to come in at 3328 thousands of cubic feet per day. Compared to the present estimate, the company reported 3486 thousands of cubic feet per day in the same quarter last year.

View all Key Company Metrics for Exxon here>>>

Shares of Exxon have experienced a change of +3.4% in the past month compared to the +3.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), XOM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .


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