Energy Woes: Exxon Mobil Warns Of Lower Q1 Earnings
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corporation (NYSE:XOM) anticipates lower Q1 FY24 earnings due to weak oil and gas prices. The company expects negative impacts on upstream results from gas and liquid price fluctuations, but sees potential positive impacts from variations in industry margins on energy, specialty, and chemical products earnings. Additionally, unsettled derivatives could also affect earnings. Investors can gain exposure to Exxon Mobil through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).
April 04, 2024 | 10:45 am
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NEGATIVE IMPACT
Investors can gain exposure to Exxon Mobil, which anticipates lower Q1 FY24 earnings, through iShares U.S. Energy ETF.
Similar to XLE, IYE's performance is likely to be indirectly impacted by Exxon Mobil's negative earnings outlook due to the ETF's exposure to Exxon Mobil. The anticipated lower earnings could affect investor sentiment towards IYE.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Investors can gain exposure to Exxon Mobil, which anticipates lower Q1 FY24 earnings, through SPDR Select Sector Fund – Energy Select Sector.
Given that XLE provides exposure to Exxon Mobil, the negative earnings outlook for Exxon Mobil could indirectly impact XLE's performance in the short term, especially considering Exxon Mobil's significant weight in the ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Exxon Mobil anticipates lower Q1 FY24 earnings due to weak oil and gas prices, with mixed impacts from industry margins and derivatives.
The direct mention of Exxon Mobil's anticipated lower earnings due to weak oil and gas prices, along with the specific financial impacts, suggests a negative short-term outlook for the stock. The detailed financial impacts provide a clear basis for anticipating how these factors will influence the company's financial performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100