Reported 2 days ago
ExxonMobil, the leading oil giant, is facing a profit decline in the fourth quarter, projecting earnings of $1.76 per share, which is lower than analysts' expectations and previous earnings. Challenges such as weak gasoline demand and impairments have impacted profitability, despite anticipated gains in its upstream oil and gas production. Nevertheless, ExxonMobil has a robust 2030 plan to enhance earnings and free cash flow, suggesting it could be an opportune moment for long-term investors to consider purchasing shares as the stock price rests below its recent highs.
Source: YAHOO