Diversified oil giant Exxon Mobil (XOM) reported weak third quarter results Thursday morning. The firm saw revenue decline 7% year-over-year to $115.7 billion, which was slightly better than consensus expectations. Earnings per share fell just 2% year-over-year to $2.09, which also exceeded consensus estimates.
US oil giant ExxonMobil reported an 18 percent decline in quarterly profits Thursday due to weaker refining earnings, but results bested expectations as oil and gas output stabilized.Exxon, the largest US oil company, said third-quarter profits were $7.9 billion on revenues of $112.4 billion, down from $9.6 billion on revenues of $115.1 billion in the year-ago period.Those results translated into earnings per share of $1.79, two cents above analyst estimates. Revenues bested expectations by about $5 billion.
By The Value Investor: Shares of Exxon Mobil (XOM) saw a modest jump after the energy giant reported a solid third quarter earnings report, which contained the first production increase in over two years.Exxon aims to offer both production growth as well as high returns to shareholders, making it a core holding for any investor with a long term outlook, in any well-diversified portfolio.
By Dividend Kings:Exxon Mobil (XOM) released its first quarter 2012 earnings on April 26, and though its earnings missed analyst expectations, the stock still closed the day around $86, 1% higher than its intraday low. An analyst poll shortly before the earnings release predicted earnings per share of $2.10.
Steven Bauer submits: Exxon Mobile Corp. (XOM) has had and continues to have perhaps the best management of all global oil and gas integrated companies. That’s quite a an accomplishment for these big guys. Exxon has nearly recovered to the highs of 2008, and is showing much growth for a giant. It certainly does qualify as a “quality” firm that helps supply energy to the world.
Clean Harbors (CLH - Snapshot Report) delivered disappointing second quarter results in August, prompting analysts to revise their estimates significantly lower for both 2013 and 2014. It was also the company's 4th earnings miss in the last 5 quarters. It is a Zacks Rank #5 (Strong Sell) stock. Despite the poor earnings momentum, shares trade at a premium on a forward P/E basis. Investors should consider avoiding this stock until its earnings momentum improves. Clean Harbors provides environmental, energy and industrial services throughout North America.
By Mel Daris:Exxon Mobil (XOM) resembles an ever-expanding giant octopus with its arms reaching out in various directions, turning whatever it touches into gold. The company recently announced the multi-billion-dollar expansion of its Baytown petrochemical complex.