October 04, 2024 06:15 GMT
ENERGY SECTOR: Exxon Publish Q3 Earnings Considerations; Not A Spread Mover
ENERGY SECTOR
Aa2/AA-
Taken at the midpoints, the release implies a USD 500mn hit from Q224 earnings due to market factors and a USD 300mn boost due to planned/seasonal/other factors. Not a mover for a business of this size/quality. (Q2 earnings were USD 9.2bn).
- “*EXXON 3Q EARNINGS TO DROP ABOUT $800M DUE TO OIL PRICES VS 2Q
- *EXXON 3Q EARNINGS TO DROP ABOUT $800M ON REFINING MARGINS VS 2Q
- *EXXON 3Q EARNINGS TO RISE ABOUT $500M ON REFINING TIMING EFFECT” -BBG
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