Chevron Corp (NYSE:CVX) and Exxon Mobil Corp (NYSE:XOM) just had their turn in the earnings confessional.
Exxon Mobil chairman and CEO Darren Woods on Friday discussed the potential impact of 2024 election on the company.
Exxon Mobil Corp (NYSE:XOM, ETR:XONA) reported mixed results for the third quarter, with profit ahead of expectations but revenue falling short. Profits were $8.6 billion or $1.92 per share, above estimates of $1.91.
Exxon CEO Darren Woods said U.S. shale oil production does not face external constraints. Production levels in the U.S. are driven by the oil and gas industry deploying capital to generate shareholder returns, Woods said.
Exxon Mobil chairman and CEO Darren Woods joins 'Squawk Box' to discuss the company's quarterly earnings results, which beat third-quarter earnings expectations as the oil major reached its highest liquids production level in more than four decades, oil production outlook, impact of 2024 election, California lawsuit, and more.
Exxon Mobil (XOM) came out with quarterly earnings of $1.92 per share, beating the Zacks Consensus Estimate of $1.91 per share. This compares to earnings of $2.27 per share a year ago.
CNBC's Becky Quick reports on the company's quarterly earnings results.
Exxon Mobil Corp.'s stock rose 1.8% early Friday, after the oil giant's third-quarter earnings showed a profit beat that offset a revenue miss and the company boosted its quarterly dividend by 4%.
Exxon beat Wall Street's earnings expectations, though its profits fell slightly compared to the year ago period. The oil major booked net income of $8.61 billion in the quarter, or $1.92 per share.
Exxon Mobil on Friday beat Wall Street's third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from U.S. shale producer Pioneer Natural Resources.
ExxonMobil's Esso division has completed the sale of the Fos-sur-Mer refinery - one of France's major refineries - and two other oil terminals to Trafigura consortium firm Rhone Energies, the companies said on Friday.
I am overall bullish on the energy sector given the currently compressed oil prices, and sector leader XOM is particularly attractive. Compared to close peer OXY and the overall sector, XOM offers better profitability metrics and balance sheet strength. Yet, XOM trades at a lower valuation than OXY.