ExxonMobil Ranks Second with 33% Estimated Earnings Growth in Q4


Jan. 8 2019, Updated 1:25 p.m. ET

Ranking series

In this series, we’re ranking four integrated energy companies based on their estimated YoY (year-over-year) earnings growth. ExxonMobil (XOM) occupies the second-place spot.

In the previous article, we reviewed Chevron (CVX), which is expected to post a 183% YoY rise in EPS in the fourth quarter.

In the third quarter of 2018, ExxonMobil’s earnings surpassed Wall Street analysts’ earnings estimates. Its earnings also rose from $3.97 billion in the third quarter of 2017 to $6.24 billion in the third quarter due to higher YoY upstream and downstream earnings partly offset by lower chemical earnings in the period.

Article continues below advertisement

ExxonMobil’s fourth-quarter estimates

Wall Street analysts expect ExxonMobil to post EPS of $1.2 in the fourth quarter, 33% higher than its adjusted EPS in the fourth quarter of 2017 but 20% lower than its adjusted EPS in the third quarter of 2018. Also, ExxonMobil’s revenue is expected to be ~$81.7 billion in the quarter, ~23% higher than its revenue in the fourth quarter of 2017.

Better oil prices could result in higher upstream earnings for the company in the fourth quarter. Brent crude oil’s price fell from $61 per barrel in the fourth quarter of 2017 to $69 per barrel in the fourth quarter of 2018. Its downstream earnings could be lower due to the fall in refining cracks in the industry. The US Gulf Coast WTI 3-2-1, the benchmark crack, fell 19% YoY in the quarter.

Move on to the next article for a look at the next stock on the list, BP (BP).


More From Market Realist

  • Honeywell sign
    Earnings Report
    CNBC Pro Stocks to Buy Before Q1 Earnings
  • Men walking by Morgan Stanley headquarters
    Morgan Stanley’s (MS) Stock Forecast Before Q1 Earnings
  • Carnival cruise ship sailing
    Carnival's (CCL) Stock Forecast Before Q1 Business Update
  • GameStop store
    GME's Earnings Are Coming: Will It Be Mayday for Shorts or WallStreetBets?
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.