Oil Price Drop To Cut Exxon Mobil's Q4 Upstream Earnings By Up To $0.9 Billion: Details

Exxon Mobil Corporation XOM shares are trading lower today. The oil giant anticipates changes in oil prices to reduce fourth-quarter upstream earnings Q/Q by $(0.9) billion to $(0.5) billion.

Conversely, changes in gas prices are expected to impact its upstream results by between $0.0 billion and $0.4 billion.

On the other hand, Exxon Mobil projects that variations in industry margins will impact energy products earnings by $(0.7) billion – $(0.3) billion, specialty products earnings by $(0.1) billion – $0.1 billion, and chemical products earnings by $(0.5) billion – $(0.3) billion.

Apart from this, changes in scheduled maintenance are projected to impact all segment earnings by $(0.1) billion- $0.1 billion each.

According to Benzinga Pro, analysts estimate Exxon Mobil to report fourth-quarter adjusted earnings per share of $1.76 and revenues of $88.402 billion.

In a separate release, Chart Industries, Inc. GTLS disclosed a global master goods and services agreement with Exxon.

Chart Industries has entered an enabling agreement with Exxon to supply LNG equipment, technology, and services across Exxon’s global projects. The agreement covers the provision of cold boxes and Chart’s proprietary IPSMR process technology.

Yesterday, the company filed a federal lawsuit Monday against California Attorney General Rob Bonta and environmental groups, alleging defamation of its advanced plastics recycling initiatives, as the oil giant pushes forward with significant investments in recycling technology.

Investors can gain exposure to XOM via Vanguard Energy ETF VDE and SPDR Select Sector Fund – Energy Select Sector XLE.

Price Action: XOM shares are down 1.35% at $107.28 at the last check Wednesday.

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