Exxon Mobil Signals Up to $3.9B Boost in Q2 Upstream Earnings
XOM sits 34% above its 52-week low of $105.525.
Summary
Exxon Mobil has signaled an expected boost of $3.5 billion to $3.9 billion in its second-quarter upstream earnings, primarily driven by changes in oil prices. This positive outlook for a core segment follows a 46% year-over-year decline in the company's first-quarter net income to $4.2 billion. The Q1 upstream earnings were $5.7 billion, making this projected increase a significant rebound for the segment.
At the time of this announcement, XOM was trading at $141.58 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $587.2B. The 52-week trading range was $105.53 to $176.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.