2023-04-28 20:03:37
The largest US oil and gas companies Exxon Mobil and Chevron posted a profit of $18 billion in the first quarter. Analysts say this is a modest result for the oil and gas giants, especially given the strong performance of the previous two quarters. However, such results are understandable given the fall in oil and gas prices and the decline in fuel demand in Europe and Asia in recent months.
Profit Exxon Mobil was $11.4 billion in the quarter, or $2.79 per share. This is significantly more than Exxon’s first-quarter 2022 profit of $5.95 billion, but still less than its fourth-quarter 2022 profit of $12.8 billion, and even less than its record third-quarter $18.7 billion. 2022. Exxon’s sales for the quarter were $83.6 billion, up from $87.7 billion in the first quarter of 2022.
A similar ratio of indicators for Chevron turned out a little better. First-quarter earnings were $6.6 billion, or $3.46 per share. This is more than in the first quarter of 2022, when the company’s profit was $6.3 billion, and more than in the fourth quarter of 2022, $6.4 billion. Chevron’s sales, like those of Exxon, fell compared to the same period in 2022 year – from $52.3 billion to $48.8 billion.
Shares of Exxon Mobil and Chevron at the auctions in New York react to the reporting by growth by 2% and 0.8% respectively.
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