Big Oil companies Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) are both set to report a significant drop in second quarter profits when they return their quarterly scorecards on the 28th of July thanks to a sharp decline in oil and gas prices compared to a year ago. Analysts expect Exxon to post Q2 2023 earnings per share (EPS) of $2.
04, a huge 50.4% drop from EPS of $4.14 in the second quarter of 2022. The company’s earnings dropped to about $7.8 billion from $17.85 in the year-ago quarter in large part due to lower natural…Big Oil Profits To Take a Hit Amid Lower Oil And Gas Prices Big Oil companies
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