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Beats and Misses in Q3 2018: XOM, CVX, RDS.A, BP

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Integrated energy stocks’ beats and misses in Q3 2018

Integrated energy companies ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP) performed quite robustly in Q3 2018. Only one of these companies missed Wall Street analysts’ third-quarter earnings estimates. Let’s take a closer look.

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ExxonMobil’s Q3 2018 earnings beat estimates

In Q3 2018, ExxonMobil’s (XOM) revenues, at $76.6 billion, beat Wall Street estimates by ~4%. Plus, the company’s third-quarter EPS stood at $1.46, beating Wall Street analysts’ estimated EPS of $1.23 by about 18%. Of the past three years, this is ExxonMobil’s highest quarterly EPS since Q3 2015. Plus, ExxonMobil’s Q3 2018 EPS stood 51% higher than its adjusted EPS in Q3 2017.

Chevron’s Q3 2018 earnings beat estimates

In Q3 2018, Chevron’s revenues, at $44 billion, missed Wall Street analysts’ estimate. However, in the third quarter, Chevron’s reported EPS stood at $2.11, which beat Wall Street analysts’ estimated EPS of $2.06 by ~2%. Adjusting for special items, Chevron’s adjusted EPS stood at $2.44, about 187% higher than its adjusted EPS in Q3 2017.

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Shell’s Q3 2018 earnings miss estimates

In Q3 2018, Royal Dutch Shell’s (RDS.A) revenues, at $100.2 billion, beat Wall Street analyst estimates. However, in the quarter, Shell’s adjusted EPS (earnings per ADS) stood at $1.3, compared to its estimated EPS of $1.5, missing analysts’ estimate. Nonetheless, Shell’s third-quarter earnings rose 35% year-over-year.

BP’s Q3 2018 earnings beat estimates

BP’s (BP) third-quarter revenues stood at $79.5 billion, around 32% higher than the Q3 2017 revenues. BP reported diluted EPS (earnings per ADS) of $1.00 in Q3 2018. However, BP’s adjusted EPS stood at $1.14, which beat Wall Street analysts’ estimate of $0.85. Also, BP’s third-quarter adjusted EPS almost doubled year-over-year.

In the next part of this series, we’ll dig deeper into these Q3 2018 earnings.

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