Exxon Mobil and Chevron Report Lower Earnings [The New York Times]
Exxon Mobil Corporation (XOM)
Last exxon mobil corporation earnings: 5/1 07:34 am
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Source: The New York Times
Exxon Mobil and Chevron, the largest American energy companies, said on Friday that their earnings in the first quarter fell from a year earlier, pulled down by lower margins on oil refining and plunging natural gas prices.But the oil and gas business remains highly profitable for the two giants even at a time of moderate oil prices.The price for Brent crude oil, the international benchmark, has been rising in recent weeks and is currently just under $90 a barrel. If this upward trend continues, company earnings could rise. Brent crude is still selling for well below its 2022 peak, when it jumped above $100 a barrel after Russia’s invasion of Ukraine.Exxon Mobil said earnings were $8.2 billion in the quarter, compared with $11.4 billion a year earlier. Chevron reported a decline to $5.5 billion from $6.6 billion.Both companies attributed their declines to lower profitability from refining crude oil into products like gasoline and diesel. Their earnings were also hurt by falling prices
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XOM
Earnings
- 4/26/24 - Miss
XOM
Sec Filings
- 5/6/24 - Form PX14A6G
- 5/6/24 - Form 3
- 5/3/24 - Form S-8
- XOM's page on the SEC website