World oil and gas companies are going to report next week record quarterly results again
World oil and gas companies are going to report next week record quarterly results again, due to high crude prices.
ExxonMobil is expected by some analysts to exceed its second-quarter results. The analysts polled by Thomson First Call expect Exxon to earn 88 cents a share, on average, when it reports third-quarter earnings on Oct. 28. That's up from 55 cents a year ago. Exxon earned 88 cents in the second quarter of 2004 that is about $22 billion of net profit.
ConocoPhillips is expected to report earnings of $2.58 per share, up from $1.82 a year ago. The company already said it expects production to be 7 percent lower than in the second quarter.
ChevronTexaco also warned of lower production in the third quarter due to the impact of Hurricane Ivan on its operations in the Gulf of Mexico. Analysts expect Chevron to earn $1.37 a share when the company reports third-quarter results Oct. 29. The company has $11 billion of net profit.
Amerada is set to report third-quarter results Wednesday, and analysts expect the producer to earn $2.14 a share, up from $1.30 earned a year ago.
