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April 26, 2019, 8:11 a.m. EDT

ExxonMobil share fall premarket after profit misses estimates

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By Ciara Linnane

Exxon Mobil Corp. shares /zigman2/quotes/204455864/composite XOM -1.58% slid 2% in premarket trade Friday, after the oil giant's first-quarter profit fell short of expectations. The company said it had net income of $2.350 billion, or 55 cents a share, in the quarter, down from $4.650 billion, or $1.09 a share, in the year-earlier period. Revenue fell to $63.6 billion from $68.2 billion. The FactSet consensus was for EPS of 70 cents and revenue of $63.0 billion. Oil-equivalent production rose 2% to 4 million barrels a day. Chief Executive Darren Wood said a solid operating performance helped offset challenging downstream and chemical margin environments. The change in Canadian crude differentials, as well as heavy scheduled maintenance, similar to the fourth quarter of 2018, affected our quarterly results," he said in a statement. Crude prices picked up through the quarter but remained weaker than average, while natural gas prices were hurt by warmer weather. Shares have gained 1.7% in the last 12 months, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.01% , which counts Exxon as a member, has gained 8.8% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.0073% has gained 9.7%.

/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 69.23
-1.11 -1.58%
Volume: 12.28M
Dec. 13, 2019 6:30p
P/E Ratio
20.17
Dividend Yield
5.03%
Market Cap
$292.92 billion
Rev. per Employee
$3.93M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
28,135.38
+3.33 +0.01%
Volume: 254.81M
Dec. 13, 2019 5:14p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,168.80
+0.23 +0.0073%
Volume: 1.96B
Dec. 13, 2019 5:14p
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