Goldman Sachs Flags Weak Q4 Guidance For Exxon Amid Weak Upstream And Chemical Results

Core Viewpoint - Exxon Mobil Corporation anticipates a decline in fourth-quarter upstream earnings due to changes in oil prices, while gas prices may have a mixed impact on upstream results [1][2]. Group 1: Earnings Projections - Fourth-quarter upstream earnings are expected to decrease by $0.9 billion to $0.5 billion due to oil price fluctuations [1]. - Variations in industry margins are projected to affect energy products earnings by $0.7 billion to $0.3 billion, specialty products earnings by $0.1 billion to $0.1 billion, and chemical products earnings by $0.5 billion to $0.3 billion [2]. Group 2: Earnings Estimates - Implied EPS at the midpoint is approximately $1.50, which is below the analyst's estimate of $1.80 and FactSet consensus of $1.76 [2]. - Implied upstream earnings are estimated at approximately $5.7 billion, lower than the analyst's estimate of $6.2 billion [3]. - Implied downstream earnings, including energy and specialty products, are around $1.0 billion, below the estimate of $1.4 billion [3]. - Implied chemicals earnings are approximately $493 million, falling short of the estimate of $853 million [4]. Group 3: Analyst Rating and Price Action - Goldman Sachs has rated Exxon Mobil as Neutral with a price target of $125 [4]. - As of the last check, XOM shares are down 2.43% at $106.11 [4].