Source: Dreamstime
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On Friday, shares of the multinational oil and gas company declined by 1% (53% so far in 2020) due to hindered performance, caused by crashing oil demand across the globe.
The coronavirus was anything but kind to Exxon Mobil. The company, which was removed from the US30 in August, has lost $680 million during its latest quarter, despite its executives stating that quarter-over-quarter results are, in fact, improving, as the market is showing signs of “early stages of [oil] demand recovery”.
“We remain confident in our long-term strategy and the fundamentals of our business and are taking the necessary actions to preserve value while protecting the balance sheet and dividend. We are on pace to achieve our 2020 cost-reduction targets and are progressing additional savings next year as we manage through this unprecedented down cycle.”
Darren Woods, Chairman and CEO of Exxon Mobil
Here are the main financial highlights from Exxon Mobil’s Q3 2020 earnings release:
– Total revenue: $46.2 billion versus expectations for $46.1 billion.
– Earnings per share: a loss of 18 cents versus expectations for a loss of 25 cents.
– Layoffs: on Thursday, the board executives made the call to lay off about 1900 employees in the U.S., with the expectations being to cut about 15% of its international workforce.
– Capital spending: Exxon had previously announced that it will curb its capital spending program from $33 billion to $23 billion, noting that it is ahead of schedule thanks to improved efficiency. For 2021, the company expects its spending to range between $16 billion and $19 billion.
Upcoming reports
See the full list of upcoming earnings reports for 9 – 13 November in the tables below.
Monday, November 9th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Beyond Meat Inc | Q3 2020 |
| Canada | Tilray Inc | Q3 2020 |
| USA | Occidental Petroleum Corp | Q3 2020 |
| Canada | Canopy Growth Corp | Q2 2021 |
| USA | Mcdonald's Corp | Q3 2020 |
| Italy | FinecoBank Banca Fineco SpA | Q3 2020 |
| Germany | Infineon Technologies AG | Q4 2020 |
| Japan | SoftBank Group Corp | Q2 2021 |
| Japan | Mazda Motor Corp | Q2 2021 |
Tuesday, November 10th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Lyft Inc | Q3 2020 |
| China | Tencent Music Entertainment Group | Q3 2020 |
| France | Alstom SA | Half year 2021 |
| Italy | Telecom Italia SpA | Q3 2020 |
| USA | D.R. Horton Inc | Q4 2020 |
| Italy | Banca Mediolanum SpA | Q3 2020 |
| Japan | Kajima Corp | Q2 2021 |
| Germany | Jenoptik AG | Q3 2020 |
| Italy | Mediaset SpA | Q3 2020 |
| Ireland | Experian PLC | Half year 2021 |
| United Kingdom | Land Securities Group PLC | Half year 2021 |
| Germany | 1&1 Drillisch AG | Q3 2020 |
| Germany | Heidelberger Druckmaschinen AG | Q2 2021 |
| Germany | Porsche Automobil Holding SE | Q3 2020 |
| United Kingdom | Vodafone Group PLC | Half year 2021 |
| United Kingdom | Electrocomponents PLC | Half year 2021 |
| Germany | Henkel AG & Co KgaA | Q3 2020 |
| Germany | Adidas AG | Q3 2020 |
| Austria | voestalpine AG | Half year 2021 |
| Japan | DeNA Co Ltd | Q2 2021 |
| Norway | Norwegian Air Shuttle ASA | Q3 2020 |
| Germany | Deutsche Post AG | Q3 2020 |
Wednesday, November 11th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| Italy | Terna Rete Elettrica Nazionale SpA | Q3 2020 |
| USA | Hillenbrand Inc | Q4 2020 |
| United Kingdom | Great Portland Estates PLC | Half year 2021 |
| Germany | Continental AG | Q3 2020 |
| Germany | Leoni AG | Q3 2020 |
| United Kingdom | Talktalk Telecom Group PLC | Interim report for 2021 |
| Germany | E.ON SE | Q3 2020 |
| Kingdom of the Netherlands | ABN Amro Bank NV | Q3 2020 |
| Japan | Toshiba Corp | Q2 2021 |
Thursday, November 12th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Applied Materials Inc | Q4 2020 |
| USA | Cisco Systems Inc | Q1 2021 |
| USA | Walt Disney Co | Q4 2020 |
| Japan | Marui Group Co Ltd | Q2 2021 |
| Taiwan | Himax Technologies Inc | Q3 2020 |
| United Kingdom | National Grid PLC | Half year 2021 |
| United Kingdom | 3i Group PLC | Half year 2021 |
| Germany | Fielmann AG | Q3 2020 |
| Germany | SGL Carbon SE | Q3 2020 |
| Germany | Evotec SE | Q3 2020 |
| Germany | Aareal Bank AG | Q3 2020 |
| Germany | Siemens AG | Full year 2020 |
| Germany | Deutsche Telekom AG | Q3 2020 |
| United Kingdom | Subsea 7 SA | Q3 2020 |
| United Kingdom | WH Smith PLC | Full year 2020 |
| United Kingdom | Burberry Group PLC | Interim report for 2021 |
| United Kingdom | FirstGroup PLC | Half year 2021 |
| Austria | Raiffeisen Bank International AG | Q3 2020 |
| Germany | Bilfinger SE | Q3 2020 |
| Belgium | KBC Groep NV | Q3 2020 |
| Germany | Merck KGaA | Q3 2020 |
| Germany | RWE AG | Q3 2020 |
| Germany | K&S AG | Q3 2020 |
| Switzerland | Zurich Insurance Group AG | Q3 2020 |
Friday, November 13th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| China | JD.Com Inc | Q3 2020 |
| Germany | Deutsche Wohnen SE | Q3 2020 |
| Singapore | BW LPG Ltd | Q3 2020 |
| Germany | Salzgitter AG | Q3 2020 |
| Japan | Olympus Corp | Q2 2021 |
| Japan | Yokohama Rubber Co Ltd | Q3 2020 |
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