Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining margins
Publishing timestamp: 2024-04-26 11:27:50
Summary
Exxon Mobil's stock fell as the company's profits were impacted by declining refining margins and natural gas prices. The company reported first-quarter earnings that missed expectations, with a 28% decrease in net income compared to the same period last year. Exxon is currently in a dispute with Chevron over the latter's pending acquisition of Hess Corp. Exxon's fuel business saw a significant drop in earnings, while the chemical products segment saw profits more than double.
Sentiment: NEGATIVE
Keywords: hess corp, chevron corp, breaking news: earnings, energy, business news, exxon mobil corp, markets, oil and gas, breaking news: markets, earnings,
Source: https://www.cnbc.com/2024/04/26/exxon-xom-q1-2024-earnings-report.html