Earnings previews: Chevron and Exxon

Posted Jan 31st 2008 5:57PM by Trey Thoelcke
Filed under: Earnings Reports, Exxon Mobil (XOM), Chevron Corp (CVX), Oil

While Marathon Oil Corp. (NYSE: MRO) reported a fall off in fourth-quarter earnings today, Chevron Corp. (NYSE: CVX) and Exxon Mobil Corp. (NYSE: XOM) are scheduled to report their fourth-quarter results tomorrow morning. Here's a quick peek at these two companies.

Chevron missed earnings expectations in the past two quarters. When it reported third-quarter results back in November, its earnings per share of $1.97 missed the consensus estimate of analysts polled by Thomson Financial by ten cents. Earnings were $2.29 per share in the same period of the previous year. For the current quarter, analysts expect earnings of $2.24 per share, or $8.36 per share for the full year. That's up from $7.93 for 2006.

Chevron's 29.1% earnings per share growth forecast for the next three to five years is a bit more than the industry average, as well as the S&P 500. The analysts' consensus recommendation is to hold Chevron. Shares are down from the 52-week high of $95.50 back in September, and closed Thursday at $83.22.

For oil prices and other news that could influence the earnings results, see BloggingStocks' Chevron coverage.

Exxon fell short of earnings expectations in the past two quarters. When it reported third-quarter results in November, earnings came to $1.70 per share, missing the consensus forecast of analysts surveyed by Thomson Financial by a nickel. Earnings were $1.77 per share in the same period of 2006. For the current quarter, analysts expect $1.95 per share, compared to $1.69 in the same quarter a year ago. For the full year, they expect $7.12 per share, up from $6.55 in 2006.

The company's earnings per share growth forecast for the next three to five years is 32.3%, which is better than the industry average and the S&P 500. The consensus recommendation from the analysts is to buy Exxon and has been for at least six months. Shares are down from the 52-week high of $95.27 back in October, and closed Thursday at $85.12.

For economic concerns and other news that could influence the earnings results, see BloggingStocks' Exxon coverage.

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Tags: Chevron, CVX, earnings, earnings reports, Exxon, ExxonMobil, oil, XOM