{"id":49336,"date":"2017-10-28T05:17:59","date_gmt":"2017-10-28T05:17:59","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=49336"},"modified":"2017-10-28T05:17:59","modified_gmt":"2017-10-28T05:17:59","slug":"exxon-third-quarter-profit-beats-expectations-despite-harvey-dent","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/exxon-third-quarter-profit-beats-expectations-despite-harvey-dent.html","title":{"rendered":"Exxon\u00a0third-quarter profit beats expectations despite Harvey Dent"},"content":{"rendered":"<h2><span style=\"font-size: 14pt\"><strong>Exxon<span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">\u00a0third-quarter profit beats expectations despite Harvey <\/span>Dent<\/strong><\/span><\/h2>\n<p style=\"text-align: justify\">Exxons<span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\"> third-quarter profit beats expectations despite Harvey dent: Exxon Mobil Corp (XOM.N), the world\u2019s largest publicly traded oil producer, posted a higher-than-expected quarterly profit on Friday as higher crude and natural gas prices more than offset the effects of a major hurricane on U.S. operations.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">The results highlighted Exxon\u2019s strength in refining as it managed to increase profits at its U.S. downstream operations despite Hurricane Harvey, which shuttered many of the company\u2019s largest U.S. Gulf Coast refineries in late August.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Production of oil and gas also increased, even in the United States despite the storm, helped by higher pricing.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">\u201cA 50 percent increase in earnings through solid business performance and higher commodity prices is a step forward in our plan to grow profitability,\u201d Darren Woods, Exxon\u2019s chief executive officer, said in a statement.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Third-quarter net income jumped to $3.97 billion, or 93 cents per share, from $2.65 billion, or 63 cents per share, in the year-ago period. Exxon said Harvey dented quarterly earnings by 4 cents per share.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Excluding the effects <\/span>from<span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\"> the storm, Exxon earned 97 cents per share. By that measure, analysts expected 86 cents per share, according to Thomson Reuters I\/B\/E\/S.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Production rose about 2 percent to 3.9 million barrels of oil equivalent per day.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Shares of Texas-based Exxon rose nearly 1 percent to $84.14 in premarket trading. The stock has lost about 8 percent of its value so far this year.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Exxon plans to hold a conference call on Friday morning with investors to discuss quarterly results.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source:http:\/\/www.reuters.com\/article\/us-exxon-results\/exxons-third-quarter-profit-beats-expectations-despite-harvey-dent-idUSKBN1CW1MT<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/exxon-third-quarter-profit-beats-expectations-despite-harvey-dent.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Exxon\u00a0third-quarter profit beats expectations despite Harvey Dent Exxons third-quarter profit beats expectations despite Harvey dent: Exxon Mobil Corp (XOM.N), the world\u2019s largest publicly traded oil producer, posted a higher-than-expected quarterly profit on Friday as higher crude and natural gas prices more than offset the effects of a major hurricane on [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":49340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[24258,24183,86897,30036],"class_list":["post-49336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-best-usa-latest-business-updates-and-news","tag-current-business-updates-in-usa","tag-exxon-third-quarter-profit-beats-expectations-despite-harvey-dent","tag-usa-latest-business-and-regional-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/49336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=49336"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/49336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/49340"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=49336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=49336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=49336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}