Exxon Mobil Corp's stock price goes up while Tesla's stock price goes down
Navigasi - Exxon Mobil Corp (XOM) said in a filing Friday the company expects a boost of at least $2.5 billion in the second quarter from rising oil and gas prices.
|Exxon Mobil Corp's stock price goes up while Tesla's stock price goes down|
Analysts polled by FactSet expect the oil giant to report second-quarter adjusted earnings of $2.96 per share on $92.4 billion in sales. That compares with adjusted EPS of $1.1 on sales of $67.7 billion in the second quarter of 2021.
Exxon shares were up 0.5% in the after-hours session Friday, after ending the regular trading day up 2.2%. So far this year, Exxon shares are up 43%, contrasting with a loss of about 20% for the S&P 500 index. SPX, +1.06%
Exxon is scheduled to report second-quarter earnings at the end of July. Ahead of first-quarter results in late April, the oil giant also told investors to be optimistic due to higher energy prices.
Meanwhile, electric car maker Tesla Inc. (TSLA) recorded its first quarterly production decline in two years following the closure of a factory in Shanghai due to Covid-19. Reported by Bloomberg, Tesla only produced 254,695 vehicles during the second quarter of 2022, down from 310,048 compared to the previous quarter but still up from the same period in 2021 of 201,250. The figure also missed the median forecast of analysts in a Bloomberg survey which estimated Tesla's vehicle shipments to reach 261,181.
Tesla's management said the company is currently facing ongoing supply chain challenges and factory closures are out of control. The shipment data is a closely watched indicator as it provides insight into the electric car maker's likely financial performance.
Tesla will report its performance in the second quarter of 2022 on July 20. Meanwhile, Tesla's annual general meeting of shareholders (AGMS) will be held on August 4. At the time of writing, Tesla shares were up +8.37 at $681.79.