ExxonMobil’s Refining Profits Are Set to Jump $4.5 Billion. Here’s What XOM Investors Need to Know.
Strong refining margins are expected to add $4.5 billion to ExxonMobil’s third-quarter earnings and help lift adjusted profit to about $15.1 billion, the company said.
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ExxonMobil Signals $4.5 Billion Refining Earnings Boost as Margins Surge
ExxonMobil indicated that soaring refining margins could increase its downstream earnings by $4.5 billion in the third quarter compared with the previous three months, highlighting ... The post ExxonMobil Signals $4.5 Billion Refining Earnings Boost as Margins Surge first appeared on [your]NEWS.
The group is scheduled to announce its third quarter results on October 30th.
Refining profits soar amid wars and fuel shortages.
ExxonMobil Signals Soaring Refining Earnings as Downstream Boom Offsets Upstream Pressure - Energy News Beat
ExxonMobil’s preliminary third-quarter update has put refining front and center for investors. Higher refining margins are expected to add roughly $4.5 billion to downstream earnings compared with the second quarter—on top of the $4.1 billion the company already generated from refining in Q2. That surge comes even as upstream earnings face an estimated $1.3 billion sequential hit from lower oil prices, with Brent averaging about 5.6% lower in th…
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