ExxonMobil's Q2 Earnings: Permian Dominance Drives Production Growth, Plans $19B Buyback In FY24
Portfolio Pulse from Lekha Gupta
ExxonMobil reported strong Q2 FY24 results with revenues of $93.060 billion and adjusted net profit of $9.24 billion. The company plans a $19 billion share buyback in FY24 and declared a $0.95 per share dividend. Despite positive earnings, XOM shares are trading lower.
August 02, 2024 | 1:22 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The iShares U.S. Energy ETF (IYE) includes ExxonMobil, which reported strong Q2 FY24 results. However, XOM shares are trading lower, which may affect IYE's performance.
IYE's performance is influenced by ExxonMobil's stock price. Despite strong earnings, XOM shares are down, which may have a neutral to slightly negative impact on IYE.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
The Energy Select Sector SPDR Fund (XLE) provides exposure to ExxonMobil, which reported strong Q2 FY24 results. However, XOM shares are trading lower, which may impact XLE's performance.
XLE's performance is influenced by ExxonMobil's stock price. Despite strong earnings, XOM shares are down, which may have a neutral to slightly negative impact on XLE.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
ExxonMobil reported strong Q2 FY24 results with revenues of $93.060 billion and adjusted net profit of $9.24 billion. The company plans a $19 billion share buyback in FY24 and declared a $0.95 per share dividend. Despite positive earnings, XOM shares are trading lower.
Despite strong earnings and positive financial metrics, XOM shares are trading lower, indicating that the market may have had higher expectations or other factors are influencing the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100