Exxon Mobil Corporation (NYSE:XOM) said Thursday that changes in oil prices are expected to reduce its upstream results by $800 million to $1.2 billion in the fourth quarter compared with the third quarter.
Details
Changes in gas prices are also expected to impact upstream results by a negative $300 million to a positive $100 million over the same period.
The company added that variations in industry margins are projected to boost Energy Products earnings by $300 million to $700 million over the same period.
On the other hand, Exxon Mobil expects changes in industry margins to reduce Chemical Products earnings by $200 million to $400 million, while Specialty Products earnings are projected to range from flat to a $200 million increase in the fourth quarter.
Moreover, Exxon Mobil said timing effects are expected to impact upstream earnings by a negative $300 million to a positive $100 million, while Energy Products earnings could benefit by $100 million to $500 million.
The company also noted that scheduled maintenance is expected to weigh on upstream results by $200 million to zero, while Energy Products, Chemical Products, and Specialty Products could see an impact ranging from a $100 million headwind to a $100 million benefit in the fourth quarter.
According to Benzinga Pro, analysts expect Exxon Mobil to report fourth-quarter adjusted earnings per share of $1.67 on revenue of $81.43 billion.
Corporate Plan Through 2030
ExxonMobil updated its corporate plan through 2030, forecasting increases of $5 billion in earnings and cash flow growth with no capital spending increase.
Earnings growth is projected to average 13% per year through 2030, with double-digit cash flow growth, and even higher per-share growth, driven by ongoing share repurchases.
The company also increased its cumulative structural cost savings plan by $2 billion to a total of $20 billion and said it expects all 2030 corporate GHG emissions intensity plans to be achieved in 2026.
XOM Price Action: Exxon Mobil shares were up 0.09% at $118.60 during premarket trading on Thursday, according to Benzinga Pro data.
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