- Revealing an in-depth view of Exxon Mobil and Phillips 66 Q3 2023 projections, based on expert analysis and predictions.
- Highlighting market trends and strategic shifts in the oil industry by assessing earnings, revenues, and percentage change from the prior year.
In our modern economy, oil giants Exxon Mobil (NYSE: XOM) and Phillips 66 (NYSE: PSX) play a crucial role. Their financial performance often serves as a barometer for the overall health of the energy sector. As we approach the release of their third quarter results on October 27, 2023, it's vital to explore what experts predict about these behemoth’s financial outcomes to understand broader industry trends.
Analysts forecast Exxon Mobil's Q3 earnings per share to be $2.24, a steep decline from $4.45 in the corresponding period the previous year. Similarly, the company's revenue seems to shrink, with expectations around $83.76 billion, down from $112.07 billion last year. Exxon Mobil shares closed at $107.60 on Thursday, showing a 0.9% decrease than the previous day. These projections highlight a challenging environment faced by Exxon Mobil, with reduced revenues and a dip in stock prices contributing to this predicament.
Like Exxon, Phillips 66 is also projected to retract in terms of its Q3 earnings. Analysts predict earnings per share to stand at $4.76, down from $6.46 in the same period last year. Revenue is anticipated to be around $38.96 billion as compared to $48.76 billion in the previous year. Phillips 66 shares also dipped by 0.6%, closing at $110.10 on Thursday.
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