Companies

ExxonMobil’s Earnings Beat Estimates, but Profits Slide on Lower Oil Prices

The company said market conditions and uncertainty over tariff policies are weighing on its growth prospects.
ExxonMobil’s Earnings Beat Estimates, but Profits Slide on Lower Oil Prices
An Exxon sign at a mini-mart in Dormont, Pa., on April 29, 2014. Gene J. Puskar / AP File
Wesley Brown
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Exactly one year after completing its $60 billion acquisition of Pioneer Natural Resources, ExxonMobil Corp. posted stronger-than-ever first-quarter results but saw its earnings deteriorate as falling oil and gas prices cut into profit margins.

As of 2:15 p.m. ET on May 2, shares of the largest U.S. integrated oil company were up 0.29 percent at $106.11. Earlier in the week, prices for West Texas Intermediate (WTI) crude, the U.S. premium grade, fell below $57 per barrel, the lowest level since February 2021.

Wesley Brown
Wesley Brown
Author
Wesley Brown is a long-time business and public policy reporter based in Arkansas. He has written for many print and digital publications across the country.