The energy sector is in focus as ExxonMobil (XOM) and Chevron (CVX) both reported second-quarter earnings. ExxonMobile beat expectations on both revenue and ...
. ExxonMobile beat expectations on both revenue and profit, reporting revenue of $93.06 billion, surpassing estimates of $87.75 billion. Adjusted earnings also exceeded projections , coming in at $2.14 per share versus the expected $2.03. Chevron saw mixed results, topping revenue estimates with $51.18 billion against projections of $50.31 billion, while adjusted EPS fell short at $2.56, missing the estimated $2.93.
Kessens notes that Exxon beat their production estimates while also outperforming on their"three larger horses that they're betting on" for long-term growth. These include their legacy Permian position, the acquisition of Pioneer Natural Resources, and their Guyana assets. Kessens states he"really like what Exxon is doing."
Revenue Estimates Brian Kessens Exceeded Projections Production Estimates Exxonmobil
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