Reported about 1 year ago
ExxonMobil anticipates a decline in Q2 earnings by up to $1.5 billion due to reduced refinery profits, marking the company's first report since the $60 billion acquisition of Pioneer Natural Resources. Analysts speculate that this decrease may affect earnings per share as refining margins across the industry shrink. Additionally, the company is navigating challenges from Hurricane Barrel's impact on Gulf operations and power outages in Houston. Full Q2 results from ExxonMobil are expected on August 2, providing more clarity on the Pioneer acquisition's contribution.
Source: YAHOO