YGRN - Earnings Roundup: U.S. Oil Majors

By Tajinder Dhillon

U.S. oil companies finished reporting 19Q3 earnings, posting a significant overall decline in YoY growth. Notables including Exxon (XOM), Chevron (CVX), and Occidental (OXY) experienced a decline of 54.1%, 26.5%, and 93.8% in YoY earnings. Top-line revenue also declined 15.1%, 17.9%, and 4.9%, respectively.

Aggregate YoY earnings growth dropped 49.2%, while aggregate revenue declined 14.3%.

Exhibit 1 highlights aggregated results for the S&P 500 Integrated Oil & Gas and Oil & Gas Exploration & Production sub-industries.

Exhibit 1: 19Q3 Results for S&P 500 Energy E&P

Decline in commodity prices

It was expected

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