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Heurist Finance

ExxonMobil narrowly missed second-quarter profit estimates as refinery maintenance limited gains from higher crude prices and fuel margins.

Bloomberg ·
XOM
ExxonMobil narrowly missed second-quarter profit estimates as refinery maintenance limited gains from higher crude prices and fuel margins.
  • ExxonMobil’s adjusted second-quarter earnings were $3.52 per share, narrowly below the $3.54 average estimate in a Bloomberg survey.
  • Refinery maintenance contributed to the earnings miss by limiting ExxonMobil’s ability to benefit from higher gasoline, diesel and jet-fuel prices.
  • The results were reported against a backdrop of soaring crude prices and widening fuel-making margins during the sixth month of the US-Iran conflict.

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