Chevron Corporation (CVX) announced earnings for the first quarter of its fiscal 2014 (1QFY14; ended March 31, 2014) before the opening bell today. The stock price of the San Ramon, California-based oil supermajor was down 1.5% in initial trading hours after the company missed revenue estimates for the quarter and reported a 27% decline in profits.
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.
Exxon Mobil Corp. (XOM) is set to report FQ1 2014 earnings before the market opens on Thursday, May 1st. Exxon Mobil is a multinational oil corporation based in Texas which boasts the third highest annual revenue of all companies globally. XOM shares started the year on a sour note before mid February when energy and utility stocks became market leaders while tech and high flier growth stocks sold off. Since early February lows Exxon Mobil stock has rallied 13.5%.
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.
Chesapeake Energy Corporation (CHK) released its financial results for the fourth quarter of fiscal year 2013 (4QFY13) today. The stock is already down more than 6.5% currently, and we expect the stock to further decline. Here are three key points investors should watch out for in Chesapeake’s earnings release today.
Forum Energy Technologies (FET) reported financial results for the second quarter of its fiscal year 2014 (2QFY14, ended June 30, 2014) after the closing bell yesterday. The company reported EPS of $0.44 beating analysts’ estimate of $0.43 by one cent. Management also issued weak earnings guidance for the third quarter but the stock was up 0.22% to $36.72 during after-hours trading.
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.