ExxonMobil anticipates a mixed financial outcome for Q1 2024, projecting both gains and losses across different segments of its operations. The company expects changes in industry margins to positively impact its energy products results by $0.5 billion to $0.7 billion compared to Q4. Additionally, specialty products earnings are forecasted to see a positive impact ranging from flat to $0.2 billion versus Q4. However, ExxonMobil also foresees a negative impact on its upstream earnings due to changes in gas prices, estimating a decrease ranging from $0.6 billion to $0.2 billion compared to Q4. Overall, despite some positive expectations, Exxon's 1Q24 earnings are likely to be lower than in the prior period due to falling oil and gas prices.
Exxon Mobil expects first-quarter oil earnings to fall https://t.co/mnS3uPbNpj https://t.co/dOAXyK6jkV
Exxon's first-quarter earnings will likely be lower than in the prior period due to falling oil and gas prices https://t.co/3HXiYwFojI
⚠️ EXXON MOBIL EXPECTS FIRST-QUARTER OIL EARNING TO FALL Full Story → https://t.co/ql0Q9iPpfR https://t.co/aOWUwh4XAM
EXXONMOBIL SEES CHANGE IN INDUSTRY MARGINS TO PSOTIVELY IMPACT Q1 SPECIALTY PRODUCTS EARNINGS BY FLAT TO $0.2 BLN VS Q4
EXXONMOBIL SEES CHANGE IN INDUSTRY MARGINS TO POSITIVELY IMPACT 1Q24 ENERGY PRODUCTS RESULTS BY $0.5 BLN - $0.7 BLN VS Q4
EXXONMOBIL SEES CHANGE IN GAS PRICES TO NEGATIVELY IMPACT Q1 UPSTREAM EARNINGS BY NEGATIVE $0.6 BLN TO NEGATIVE $0.2 BLN VS Q4