Analysts expect Exxon to post $3.63 EPS and $97.66B revenue, up 121% and 20% year-over-year, respectively.
Exxon Mobil (XOM) and Chevron (CVX) will release second-quarter earnings on July 31 before the market opens. Exxon is projected to report earnings per share of $3.63, a 121.3% increase year-over-year, on revenue of $97.66 billion, up 19.8% from the same period last year.
The results come amid heightened scrutiny of Venezuela assets and potential margin improvements. Prior quarter earnings saw Exxon report $2.06 EPS on $83.08 billion revenue, while Chevron posted $2.97 EPS on $48.72 billion revenue. Analysts will watch for updates on refining margins and upstream production costs.
Market reaction will hinge on guidance and asset performance, particularly in volatile geopolitical regions.