What To Look For in ExxonMobil Earnings – Oil Upstream, Downstream and Chemical


Exxon Mobil (NYSE:XOM) latest 8-K filing,

Expects changes in gas prices will boost Q3 earnings by ~$700M compared with Q2 and changes in liquids prices will lift earnings by ~$400M, based on the midpoint of company estimates.

The estimates mean Exxon’s Q3 GAAP earnings in its upstream business likely totaled ~$3.2B and $2.3B in its chemicals business, while refining probably finished with a ~$200M loss.

Q3 changes in downstream refining margins probably ended at ~$600M, according to the midpoint of the company’s estimates.