Exxon Warns of Weaker Q4 Profits Amid Lower Refining Margins ...Middle East

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Exxon Warns of Weaker Q4 Profits Amid Lower Refining Margins
source : OILPRICE ( Middle East ) () 83
Exxon expects to book a weaker profit for the fourth quarter of 2024 because of lower refining margins, the company said in an SEC filing this week, estimating the size of the negative impact at $1.75 billion. This impact would be partially offset by gains from upstream asset sales, the supermajor noted, but its fourth-quarter report would still feature an impairment to the tune of some $600 million. Reuters reported that LSEG estimates see Exxon posting a net profit of $1.76 per share for the final quarter of last year, down from $2.48 per share…

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