ExxonMobil Expects to Report a Profit Gusher in Q1. Can It Repeat That Feat With Crude Prices Falling?
ExxonMobil (NYSE: XOM) recently gave investors a glimpse into its upcoming first-quarter earnings report. The oil giant expects to report a roughly $900 million increase in its quarterly profit. A combination of higher oil and natural gas prices and improving oil refining margins helped fuel the increased profitability. Unfortunately, the strong market conditions that helped drive its earnings higher in the first quarter vanished in the early days of Q2. Crude prices have crumbled due to concerns about how higher tariffs will impact the global economy. On a more positive note, Exxon is working hard to bolster its earnings capacity in the future.ExxonMobil provided some preliminary numbers for the first quarter. The company expects its earnings to be about $900 million higher than in the fourth quarter, when it reported $7.4 billion in profit. That would also put its profits up about $100 million compared to the first quarter of last year, when it posted $8.2 billion in income. Continue reading
ExxonMobil (NYSE: XOM) recently gave investors a glimpse into its upcoming first-quarter earnings report. The oil giant expects to report a roughly $900 million increase in its quarterly profit. A combination of higher oil and natural gas prices and improving oil refining margins helped fuel the increased profitability.
Unfortunately, the strong market conditions that helped drive its earnings higher in the first quarter vanished in the early days of Q2. Crude prices have crumbled due to concerns about how higher tariffs will impact the global economy. On a more positive note, Exxon is working hard to bolster its earnings capacity in the future.
ExxonMobil provided some preliminary numbers for the first quarter. The company expects its earnings to be about $900 million higher than in the fourth quarter, when it reported $7.4 billion in profit. That would also put its profits up about $100 million compared to the first quarter of last year, when it posted $8.2 billion in income.
