Exxon Mobil Corporation (NYSE:XOM) is slated to report earnings before the market opens on Friday, when investors will be bracing for a sizeable decline on the top and bottom lines.
The Street consensus for the energy company is earnings of $2.37 per share on revenue of $88.81 billion, compared to $4.68 per share on revenue of $106.51 billion a year earlier.
In the previous four quarters, Exxon has missed expectations once and beat three times, with an average earnings surprise of 5.2%.
The Zacks Consensus Estimate for ExxonMobil’s daily production volumes is 3,722 thousand barrels of oil equivalent per day, compared to 3,716 MBoe/d in the year-ago quarter.
Oil prices are also in focus due to the impact of the Israel-Hamas war, although that will largely be realized in the company’s fourth quarter.
Meanwhile, Exxon confirmed earlier this month its acquisition of Pioneer Natural Resources (NYSE:PXD) in a $59.5 billion deal that it said would transform its upstream business.
Shares of Exxon traded 1.3% lower Monday afternoon at $109.39.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel