Exxon Mobil Braces For Q3 Earnings Hit As Oil Price Swings Bite Into Profits
Portfolio Pulse from Lekha Gupta
Exxon Mobil anticipates a hit to its Q3 earnings due to fluctuations in oil and gas prices, with upstream earnings potentially decreasing by up to $1 billion. Despite this, XOM shares are trading higher, possibly due to recent oil price increases amid Middle East tensions. Investors can also gain exposure through ETFs like DRLL and WEEI.
October 04, 2024 | 12:48 pm
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NEUTRAL IMPACT
EA Series Trust Strive U.S. Energy ETF (DRLL) offers exposure to Exxon Mobil, which is facing potential Q3 earnings impact due to oil price swings. The ETF may see neutral impact as XOM shares rise amid recent oil price increases.
DRLL provides exposure to Exxon Mobil, which is anticipating a Q3 earnings hit due to oil price fluctuations. However, the recent rise in oil prices has led to an increase in XOM shares, suggesting a neutral short-term impact on the ETF.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Westwood Salient Enhanced Energy Income ETF (WEEI) includes Exxon Mobil, which is facing potential Q3 earnings impact due to oil price swings. The ETF may see neutral impact as XOM shares rise amid recent oil price increases.
WEEI provides exposure to Exxon Mobil, which is anticipating a Q3 earnings hit due to oil price fluctuations. However, the recent rise in oil prices has led to an increase in XOM shares, suggesting a neutral short-term impact on the ETF.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Exxon Mobil expects a significant impact on Q3 earnings due to oil and gas price fluctuations, with potential upstream earnings reduction by up to $1 billion. Despite this, XOM shares are trading higher, likely due to recent oil price increases.
Exxon Mobil's Q3 earnings are expected to be negatively impacted by oil and gas price fluctuations, with a potential reduction in upstream earnings by up to $1 billion. However, the recent rise in oil prices due to Middle East tensions has led to an increase in XOM shares, indicating a neutral short-term impact as the market may have already priced in the earnings hit.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100