Exxon Mobil Corporation (NYSE:XOM) shares are trading higher premarket on Tuesday. On Monday, the oil giant stated that it anticipates changes in oil prices to impact its Upstream results by ($100) million to $300 million in the third quarter compared to the second quarter.
Also, changes in gas prices are expected to impact its Upstream results by ($200) million to $200 million.
Also, Exxon Mobil projects that variations in industry margins will positively impact Energy Products earnings by $300 million to $700 million.
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On the other hand, the company expects changes in industry margins to impact Chemical Products earnings by $100 million – $300 million and Specialty Products earnings by ($100) million – $100 million in the third quarter.
Moreover, changes in timing effects are expected to have an impact of ($400) million to $0.0 billion in Upstream earnings and ($200 million to $200 million on Energy Products earnings.
Additionally, scheduled maintenance is expected to impact Upstream, Chemical Products, and Specialty Products results by ($100 million) – $100 million each, while Energy Products may see an effect of $0.0 billion – $200 million.
According to Benzinga Pro, analysts estimate Exxon Mobil to report third-quarter adjusted earnings per share of $1.79 and revenues of $87.18 billion.
Last month, the company reportedly entered into a preliminary, non-binding arrangement with Russia’s Rosneft to explore avenues for recovering billions lost after its withdrawal from Russian operations in 2022.
The company plans to release third-quarter results on October 31.
Investors can gain exposure to XOM via Global X Funds Global X PureCap MSCI Energy ETF (NYSE:GXPE) and Vanguard Energy ETF (NYSE:VDE).
Price Action: XOM shares were trading higher by 0.52% to $114.79 premarket at last check Tuesday.
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