ExxonMobil Underwhelms With Q1 Earnings

ExxonMobil (NYSE: XOM) reported on Friday underwhelming earnings for the first quarter that were lower than consensus estimates, due to declining natural gas prices and refining margins and non-cash adjustments. The U.S. supermajor booked first-quarter earnings of $8.2 billion, down from $11.4 billion for the first quarter of 2023. Earnings per share were $2.06 for the first quarter of 2024, down from $2.79 for the same period last year. Exxon’s Q1 2024 earnings per share were below the analyst consensus forecast of $2.19 compiled…