ExxonMobil Q1 Earnings Report Overview
Friday, 26 April 2024, 18:52
ExxonMobil Q1 earnings report
ExxonMobil stock witnessed a downturn as GAAP profits declined, attributed to refining margins and weak natural gas prices.
Contradiction in Earnings and Cash Flow
Free cash flow for the quarter stood strong at $10.1 billion, surpassing profits by 23%, raising skepticism on the reported earnings.
Historically, Exxon's strong earnings have not been fully supported by free cash flow, contributing to hesitation among investors.
- Investment Warning: Considering the risk associated with the discrepancy, analysts continue to advise selling ExxonMobil stock despite low P/E ratio.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.