2024-05-07 08:30:00 ET
Summary
- Exxon Mobil's Q1 earnings disappointed market expectations, with a decline in net income and revenues compared to the same period last year.
- Management attributes the earnings disappointment to inventory and non-cash tax adjustments, but highlights ongoing cost savings and a strengthened balance sheet.
- Despite a history of volatile trend movements, the stock's strong cash flow generation and sustainable dividend yield make it an attractive investment option even at these elevated levels.
Shares of Exxon Mobil (XOM) have encountered rounds of selling pressure following the release of the oil giant’s most recent earnings report. For the first-quarter period, Exxon Mobil recorded $8.22 billion in net income (or per-share earnings of $2.06), disappointing market expectations (consensus estimates were looking for EPS of $2.20) and indicating an annualized decline of 28% relative to the $2.79 EPS figure ($11.43 billion in net income) that was reported during the same period last year....
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Exxon Mobil: Not Cheap, Still A Buying Opportunity (Technical Analysis)