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Earnings season continues to chug along, with many companies pulling the curtain back and unveiling quarterly results daily.
We’ve already received many notable reports, including those from big-tech and the big banks. Of course, we’re not out of the woods by any stretch of the imagination, with many more slated to report in the coming weeks.
Tomorrow, we’ll hear from energy giants Exxon Mobil (XOM - Free Report) and Chevron (CVX - Free Report) . Both stocks have gained widespread attention over the last year as energy prices climbed, with shares of each handily outperforming the general market during the period.
Image Source: Zacks Investment Research
But how do estimates stack up heading into earnings? And how has the market reacted to previous releases? Let’s take a closer look.
Exxon Mobil
Analysts have primarily been bullish regarding the quarter-to-be reported, with the quarterly EPS estimate being revised 3% higher just over the last 60 days. The Zacks Consensus EPS Estimate of $2.65 suggests an improvement of nearly 30% year-over-year.
Image Source: Zacks Investment Research
In addition, our consensus revenue estimate presently stands at roughly $96.1 billion, more than 6% higher than year-ago sales of $90.5 billion. The quarterly revenue estimate has been revised nearly 5% higher since February.
Image Source: Zacks Investment Research
As we can see in the chart below, XOM shares have seen somewhat-mixed reactions from the market post-earnings over the last year.
Image Source: Zacks Investment Research
Chevron
Chevron hasn’t seen positive earnings estimate revisions like XOM, with the quarterly EPS estimate moving 6.6% lower over the last several months. The forecasted EPS figure reflects zero change from the year-ago quarter.
Image Source: Zacks Investment Research
The company’s top line expectations have also been lowered, with our $47.9 billion quarterly revenue estimate moving nearly 8% lower since February of this year. The quarterly revenue estimate implies a pullback of roughly 12% year-over-year.
Image Source: Zacks Investment Research
The market wasn’t impressed with the latest quarterly print, sending shares on a downward trajectory post-earnings. However, before the latest release, shares regularly got a boost post-earnings, as we can see below.
Image Source: Zacks Investment Research
Bottom Line
Both companies have been massive beneficiaries of increased energy prices, helping to deliver substantial free cash flow and improved balance sheets.
Many will undoubtedly be focused on the quarterly prints, as the two are a few of the most prominent players in the sector.
Analysts have been much more optimistic surrounding Exxon Mobil (XOM - Free Report) , with the company witnessing positive earnings estimate revisions for the quarter to be reported.
Conversely, analysts haven’t been nearly as optimistic regarding Chevron’s (CVX - Free Report) quarter to be reported, with the quarterly estimate being revised lower over the recent term.
Heading into the quarterly prints, Chevron and Exxon Mobil both carry a Zacks Rank #3 (Hold).
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Energy Earnings: Exxon Mobil and Chevron on Deck
Earnings season continues to chug along, with many companies pulling the curtain back and unveiling quarterly results daily.
We’ve already received many notable reports, including those from big-tech and the big banks. Of course, we’re not out of the woods by any stretch of the imagination, with many more slated to report in the coming weeks.
Tomorrow, we’ll hear from energy giants Exxon Mobil (XOM - Free Report) and Chevron (CVX - Free Report) . Both stocks have gained widespread attention over the last year as energy prices climbed, with shares of each handily outperforming the general market during the period.
Image Source: Zacks Investment Research
But how do estimates stack up heading into earnings? And how has the market reacted to previous releases? Let’s take a closer look.
Exxon Mobil
Analysts have primarily been bullish regarding the quarter-to-be reported, with the quarterly EPS estimate being revised 3% higher just over the last 60 days. The Zacks Consensus EPS Estimate of $2.65 suggests an improvement of nearly 30% year-over-year.
Image Source: Zacks Investment Research
In addition, our consensus revenue estimate presently stands at roughly $96.1 billion, more than 6% higher than year-ago sales of $90.5 billion. The quarterly revenue estimate has been revised nearly 5% higher since February.
Image Source: Zacks Investment Research
As we can see in the chart below, XOM shares have seen somewhat-mixed reactions from the market post-earnings over the last year.
Image Source: Zacks Investment Research
Chevron
Chevron hasn’t seen positive earnings estimate revisions like XOM, with the quarterly EPS estimate moving 6.6% lower over the last several months. The forecasted EPS figure reflects zero change from the year-ago quarter.
Image Source: Zacks Investment Research
The company’s top line expectations have also been lowered, with our $47.9 billion quarterly revenue estimate moving nearly 8% lower since February of this year. The quarterly revenue estimate implies a pullback of roughly 12% year-over-year.
Image Source: Zacks Investment Research
The market wasn’t impressed with the latest quarterly print, sending shares on a downward trajectory post-earnings. However, before the latest release, shares regularly got a boost post-earnings, as we can see below.
Image Source: Zacks Investment Research
Bottom Line
Both companies have been massive beneficiaries of increased energy prices, helping to deliver substantial free cash flow and improved balance sheets.
Many will undoubtedly be focused on the quarterly prints, as the two are a few of the most prominent players in the sector.
Analysts have been much more optimistic surrounding Exxon Mobil (XOM - Free Report) , with the company witnessing positive earnings estimate revisions for the quarter to be reported.
Conversely, analysts haven’t been nearly as optimistic regarding Chevron’s (CVX - Free Report) quarter to be reported, with the quarterly estimate being revised lower over the recent term.
Heading into the quarterly prints, Chevron and Exxon Mobil both carry a Zacks Rank #3 (Hold).