XOM Exxon Mobil Corp

By Kathryn Hardison

Exxon Mobil Corp. detailed pricing effects that it expects to see on its results for the quarter that ended in September.

Exxon Mobil estimates that changes in liquid prices will have a negative effect of between $1.4 billion to $1.8 billion in the third quarter compared with second-quarter results, it said in a Tuesday filing with the Securities and Exchange Commission.

The oil and gas company also predicted a favorable effect of $1.8 billion to $2.2 billion on results for the recent quarter due to changes in gas prices, compared with the second quarter.

These pricing details take into account market dynamics, seasonal patterns and planned activities, Exxon Mobil said. Margin impacts, unscheduled downtime, foreign exchange fluctuation and other factors aren't included in the estimates.

For the second quarter, the company recorded net income of $17.85 billion, or $4.21 per share, compared with $4.69 billion, or $1.10 per share, the year prior. The company cited increased production, higher realizations and tight cost control during the period. Revenue was $115.68 billion.

The company expects to report third-quarter results on Oct. 28.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

October 04, 2022 18:25 ET (22:25 GMT)

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