ExxonMobil’s net profit down 38% in Q3
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, ExxonMobil Corp’s net profit in the third quarter fell 38% on a quarterly basis, but still beat analysts’ expectations due to cost cuts. Analysts’ average expectations called for a profit of 58 cents per share in a survey conducted by Wall Street.
It is reported that the company’s net income was at $2.65 billion, or 63 cents per share in Q3 from $4.24 billion, $1.01 per share in the same period of last year. ExxonMobil’s earnings from all of its divisions, including the refining unit, were down.
In the third quarter, the company’s output decreased around 3% to 3.8 million barrels per day (bdp). The company’s weaker financial results were attributed to lower crude oil prices.
It is reported that the company’s net income was at $2.65 billion, or 63 cents per share in Q3 from $4.24 billion, $1.01 per share in the same period of last year. ExxonMobil’s earnings from all of its divisions, including the refining unit, were down.
In the third quarter, the company’s output decreased around 3% to 3.8 million barrels per day (bdp). The company’s weaker financial results were attributed to lower crude oil prices.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
