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FILE - An ExxonMobil fuel storage and distribution facility is shown in Irving, Texas, on Jan. 25, 2023. (AP Photo/LM Otero, File)

Exxon Mobil profit tops Street in 3rd quarter, helped by Pioneer Natural acquisition

Exxon Mobil’s third-quarter profit beat analysts’ expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition

By MICHELLE CHAPMAN
Published - Nov 01, 2024, 11:47 AM ET
Last Updated - Dec 16, 2024, 05:44 PM EST

Exxon Mobil's third-quarter profit beat analysts' expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition.

Exxon earned $8.6 billion, or $1.92 per share, for the three months ended Sept. 30. A year earlier the Spring, Texas-based company earned $9.07 billion, or $2.25 per share.

The performance topped Wall Street's expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts surveyed by Zacks Investment Research were calling for earnings of $1.91 per share.

Revenue totaled $90.02 billion, falling short of Wall Street’s estimate of $93.51 billion.

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