XOM, CVX, RDS.A, and BP: Beats and Misses in Q4

Integrated energy companies including ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP) had strong performances in the fourth quarter. All of the companies beat analysts’ fourth-quarter earnings estimate.

In the fourth quarter, ExxonMobil’s revenues at $71.9 billion missed analysts’ estimates by ~7%. However, the company’s fourth-quarter adjusted EPS was $1.4, which beat analysts’ estimated EPS of $1.1 by ~31%. ExxonMobil’s fourth-quarter adjusted EPS was 60% higher than its adjusted EPS in the fourth quarter of 2017.

In the fourth quarter, Chevron’s revenues at $42 billion missed analysts’ estimate. In the fourth quarter, Chevron’s adjusted EPS was $1.95, which beat analysts’ estimated EPS of $1.87 by ~4%. Chevron’s adjusted EPS was ~171% higher than its adjusted EPS in the fourth quarter of 2017.

In the fourth quarter, Shell’s revenues at $102.2 billion beat analysts’ estimates. During the fourth quarter, Shell’s adjusted EPS was $1.4—compared to its estimated EPS of $1.3. Shell’s adjusted EPS beat analysts’ estimate. Shell’s fourth-quarter adjusted EPS rose 15% year-over-year.

BP’s fourth-quarter revenues were $75.7 billion, which beat analysts’ estimate by ~2%. BP’s adjusted EPS was $1.02, which beat analysts’ estimate of $0.84 in the fourth quarter. BP’s adjusted EPS rose 55% YoY in the fourth quarter.

Net, we’ll discuss these companies’ fourth-quarter earnings in more detail.