Wall Street analysts forecast that Exxon Mobil (XOM) will report quarterly earnings of $1.72 per share in its upcoming release, pointing to a year-over-year decline of 16.5%. It is anticipated that revenues will amount to $84.49 billion, exhibiting an increase of 1.7% compared to the year-ago quarter.
The current level reflects a downward revision of 8.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Exxon metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenues- Sales and other operating revenue' will likely reach $84.12 billion. The estimate suggests a change of +4.6% year over year.
The average prediction of analysts places 'Revenues- Income from equity affiliates' at $1.17 billion. The estimate points to a change of -36.4% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenues- Sales and other operating revenue- Specialty Products' should arrive at $7.16 billion. The estimate suggests a change of +55% year over year.
Analysts' assessment points toward 'Revenues- Sales and other operating revenue- Energy Products' reaching $63.39 billion. The estimate indicates a change of -1.3% from the prior-year quarter.
Analysts expect 'Revenues- Sales and other operating revenue- Upstream- Non-U.S.' to come in at $3.24 billion. The estimate points to a change of -8% from the year-ago quarter.
Analysts forecast 'Revenues- Sales and other operating revenue- Upstream- United States' to reach $5.72 billion. The estimate indicates a change of +161% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Sales and other operating revenue- Chemical Products- Non-U.S.' of $3.67 billion. The estimate indicates a change of +0.6% from the prior-year quarter.
The consensus estimate for 'Revenues- Sales and other operating revenue- Specialty Products- Non-U.S.' stands at $5.31 billion. The estimate points to a change of +68.5% from the year-ago quarter.
It is projected by analysts that the 'Oil-equivalent production per day' will reach 4,584.05 KBOE/D. Compared to the present estimate, the company reported 3,784 KBOE/D in the same quarter last year.
Analysts predict that the 'Natural gas production available for sale per day - Worldwide' will reach 8,462.62 Mcf/D. The estimate compares to the year-ago value of 7,362 Mcf/D.
The consensus among analysts is that 'Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - Worldwide' will reach 3,139.27 thousands of barrels of oil. Compared to the current estimate, the company reported 2557 thousands of barrels of oil in the same quarter of the previous year.
According to the collective judgment of analysts, 'Net production of crude oil, natural gas liquids, bitumen and synthetic oil per day - United States' should come in at 1,395.05 thousands of barrels of oil. The estimate compares to the year-ago value of 816 thousands of barrels of oil.
View all Key Company Metrics for Exxon here>>>
Over the past month, Exxon shares have recorded returns of -9% versus the Zacks S&P 500 composite's -0.2% change. Based on its Zacks Rank #3 (Hold), XOM will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Exxon Mobil Corporation (XOM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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