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Energy Earnings: Two Reports to Watch This Week

Earnings season continues to move rapidly, with a notably rich reporting docket this week. A few big-tech names and representatives from many areas of the market are slated to report quarterly results.

Among the bunch are two energy titans, Exxon Mobil XOM and Chevron CVX. Shares of each have displayed considerable relative strength over the last three months, outperforming the S&P 500 handily.

But what can investors expect from the two heavyweights? Let’s take a closer look at expectations for each.

Exxon Mobil

Earnings expectations for XOM have positively reversed course as of late, with the $2.19 Zacks Consensus EPS estimate up from $2.12 expected in mid-April. Revenue revisions have moved similarly, with the $86.6 billion expected up from $82.7 billion in mid-April.

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Zacks Investment Research


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The company posted a sizable beat in its latest release, exceeding the Zacks Consensus EPS estimate by 12%. Sales fell short of expectations but didn’t affect investor sentiment, with XOM shares jumping higher post-earnings.

Below is a chart illustrating the company’s revenue on a quarterly basis.

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Zacks Investment Research


Image Source: Zacks Investment Research

Chevron

Recent earnings revisions for CVX haven’t been as positive relative to XOM, with the $2.84 Zacks Consensus EPS estimate down considerably from the $3.03 per share expected in mid-April. Revenue revisions have followed the same path, as the $49.9 billion estimate is down from $51.2 billion in the same time period.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Like XOM, Chevron pleased investors with its latest set of quarterly results, with shares moving higher post-earnings. Concerning headline figures, CVX posted a 5% beat relative to the Zacks Consensus EPS estimate and posted sales that missed expectations.

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Zacks Investment Research


Image Source: Zacks Investment Research

Bottom Line

We’ve got a busy slate of earnings this week, with representation from many different areas. Two well-known energy heavyweights, Exxon Mobil XOM and Chevron CVX, are among the bunch.

Positive revisions have been prevalent within XOM over the last month, whereas CVX estimates have moved lower.

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Chevron Corporation (CVX) : Free Stock Analysis Report

Exxon Mobil Corporation (XOM) : Free Stock Analysis Report

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