ExxonMobil weaker as 8K filing suggests below-consensus EPS

Jefferies analysts highlighted the weakness in ExxonMobil (NYSE:) shares on Monday, noting the company’s 8K filing revealed weaker-than-expected earnings per share (EPS).

Analysts explained that the 8K suggests EPS of ~$1.50-2.40 per share, falling short of the VisibleAlpha consensus of ~$2.30 per share, a difference of about 17%.

In its filing, XOM said its earnings are expected to be impacted by a change in natural gas prices and industry margins.

Jefferies attributes the lower-than-anticipated EPS to weaker upstream performance, likely caused by global natural gas realizations.

Analysts explain that while the buyside had already adjusted expectations downward slightly due to recent refining margin pressures, they were still anticipating slightly better performance in the chemicals sector.

XOM’s stock price is down more than 1% today, reflecting investor concerns. While it has also declined by over 7% in the last three months, so far this year, XOM shares are on a positive footing, with the stock climbing more than 11%.