Exxon Mobil Posts Mixed Q2 Results On Lower Natural Gas Realizations & Industry Refining Margins
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corp (NYSE:XOM) reported Q2 2023 revenues of $82.91 billion, beating the consensus of $80.19 billion. However, Q2 adjusted earnings were lower than a year ago due to lower natural gas realizations and industry refining margins. The company also announced a dividend per share of $0.91 for Q3 and bought back shares worth $4.3 billion in the quarter. XOM shares are trading lower by 0.16% at $105.25 premarket.
July 28, 2023 | 12:54 pm
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Exxon Mobil's Q2 earnings were lower than a year ago due to lower natural gas realizations and industry refining margins, which may have contributed to the slight drop in premarket trading.
Exxon Mobil's lower Q2 earnings, despite beating revenue estimates, indicate a challenging operating environment due to lower natural gas realizations and industry refining margins. This mixed performance, along with the slight drop in premarket trading, suggests a potential short-term negative impact on the stock.
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