Exxon Mobil Corp. is slated to report earnings before the bell on Tuesday hot on the heels of a mixed quarter for Chevron Corp. and renewed scrutiny over oil...
Exxon Mobil Corp. is slated to report earnings before the bell on Tuesday, hot on the heels of results showing a mixed quarter for Chevron Corp., and amid renewed scrutiny over oil giants’ share buyback programs.
Exxon XOM in December set a $50 billion buyback program. The Irving, Texas company, the U.S. largest integrated oil producer, warned Wall Street earlier this month to dial down expectations for quarterly profit, but its yearly profit, like Chevron’s, are also expected to be at a record. Estimize, a crowdsourcing platform that gathers estimates from Wall Street analysts as well as buy-side analysts, fund managers, company executives, academics and others, is expecting an adjusted profit of $3.41 a share for Exxon.
What else to expect: Exxon in early January told Wall Street to expect that changes in liquids and gas prices will reduce its fourth-quarter earnings by up to $4.1 billion when compared with third-quarter results.
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