{"id":68971,"date":"2023-10-05T08:02:10","date_gmt":"2023-10-05T12:02:10","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/exxon-expects-profit-bump-from-oil-prices-of-around-1-billion-in-third-quarter\/"},"modified":"2023-10-05T08:02:14","modified_gmt":"2023-10-05T12:02:14","slug":"exxon-expects-profit-bump-from-oil-prices-of-around-1-billion-in-third-quarter","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68971","title":{"rendered":"Exxon expects profit bump from oil prices of around $1 billion in third quarter"},"content":{"rendered":"
\n

Exxon Mobil Corp. said in a filing late Wednesday that its third-quarter profit is likely to get a bump of around $1 billion from rising crude prices. <\/p>\n

Exxon
\n XOM,
\n -3.74%<\/bg-quote>
\n estimated between $900 million and $1.3 billion more than second-quarter profit due to crude-price changes, and between $200 million and $400 million in gas-price changes. <\/p>\n

\n

The energy giant is expecting $600 million to $400 million less as a result of thinner margins for its chemicals, however.<\/p>\n

Exxon shares dropped 0.8% in the extended session after ending the regular trading day down 3.7%. The stock late last month ended at a record, according to data going back to November 1972. <\/p>\n

Oil futures prices on Wednesday ended at their lowest in about five weeks, but had been inching closer to $100 a barrel recently. <\/p>\n

Exxon is slated to report third-quarter earnings in early November, with FactSet consensus calling for adjusted earnings of $2.35 a share on sales of $85.6 billion. That would compare with adjusted EPS of $4.45 on sales of $112 billion in the third quarter of 2022. <\/p>\n

So far this year, Exxon shares have gained nearly 2%, compared to an advance of around 10% for the S&P 500 index
\n SPX.<\/span>\n <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Exxon Mobil Corp. said in a filing late Wednesday that its third-quarter profit is likely to get a bump of around $1 billion from rising crude prices. Exxon XOM, -3.74% estimated between $900 million and $1.3 billion more than second-quarter profit due to crude-price changes, and between $200 million and $400 million in gas-price changes. […]<\/p>\n","protected":false},"author":1,"featured_media":68972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-68971","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nExxon expects profit bump from oil prices of around $1 billion in third quarter | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Exxon Mobil Corp. said in a filing late Wednesday that its third-quarter profit is likely to get a bump of around $1 billion from rising crude prices.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=68971\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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