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

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    Oil giant ExxonMobil report its second quarter earnings…



    Exxon Mobil (XOM 56.18, +1.60, +2.9%): bouncing back above its 200-day moving average (54.70) toward its 50-day moving average (56.66) with oil and natural gas price surge


    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.

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