XOM - Exxon's Q4 Surprise: Beats Earnings Expectations Despite Revenue Dip Embarks On Bold EV And LNG Ventures | Benzinga
Exxon Mobil Corp’s (NYSE:XOM) fourth-quarter FY23 result adjusted net profit came in at $9.96 billion, or $2.48 per share, down from $14.04 billion, or $3.40 per share, a year earlier, beating the consensus of $2.21.
Adjusted profits were higher Q/Q, led by favorable derivative mark-to-market impacts, increasing volume and mix on advantaged Guyana and Permian assets, and stronger chemical margins.
Revenue and other income slipped to $84.34 billion from $95.43 billion and missed Wall Street’s estimate of $85.23 billion.
Net production stood at 3,824 thousand oil-equivalent barrels per day, almost flat Y/Y, and rose 136,000 oil-equivalent barrels per day Q/Q thanks ...