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Page added on October 2, 2020

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Exxon Signals Another Loss

Exxon Signals Another Loss thumbnail

Exxon Mobil Corp. likely made a third consecutive loss in the last quarter, heaping further pressure on the energy giant’s ability to pay its $15 billion-a-year dividend, currently the third-highest in the S&P 500 Index.

Exxon suffered further losses in its refining division in the third quarter while higher oil prices were likely not enough to push its production operations back into profit, the Irving, Texas-based company said Thursday in a filing. Refining margins took a negative hit of as much as $600 million in the period while chemicals made a small profit.

A third-quarter loss would suggest Exxon still isn’t able to fund either its dividend or capital expenditure from operational cash flow, meaning it’s reliant on debt to get by. The last time the company generated enough free cash to cover its dividend was the third quarter of 2018, according to data compiled by Bloomberg.

In aggregate, Exxon probably made a loss of about 30 cents a share, compared with analyst expectations of a 1-cent loss, analysts at Tudor, Pickering, Holt & Co. said in a note to clients. The update from Exxon will likely weigh on the shares, they said.

“We suspect investors will continue to focus on the path forward for the business with operating cost and capital cuts in focus to shore up the balance sheet in a bid to defend the company’s dividend,” the analysts said.

Exxon’s dividend yield has risen to more than 10% over the past few days, indicating shareholders believe the dividend is unsustainable at current levels and may be cut. Rival oil supermajors Royal Dutch Shell Plc and BP Plc slashed their payouts earlier this year as Covid-19 savaged oil demand globally. Reducing its dividend would be a seismic shift for Exxon, which has made a rising payout the keystone of its investment strategy for the last 37 years.

Shares of Exxon were down 1.1% at $33.97 at 9:42 a.m. in New York trading.

RIGZONE



14 Comments on "Exxon Signals Another Loss"

  1. bochen787 on Fri, 2nd Oct 2020 8:30 am 

    CHINA

  2. Cloggie on Fri, 2nd Oct 2020 3:01 pm 

    Solar panels in the shredder no more:

    https://www.tno.nl/nl/aandachtsgebieden/energietransitie/roadmaps/naar-een-overvloed-aan-zonnestroom/wereldwijd-voorop-lopen-met-innovatieve-zonnepanelen/recyclebare-zonnemodules/

    Dutch technological research institute TNO announces a completely recyclable solar panel.

    On top of that TNO has contributed to the startup of a new Dutch solar panel manufacturing plant, where panels are being produced with new German-Dutch “backcontact-technology”, giving architectural designers much more freedom in integrating the panel/cells into the building environment. The EU wants to vastly increase European production of solar panels, to avoid the environmental overhead of shipping panels all the way from China.

    https://www.tno.nl/nl/aandachtsgebieden/energietransitie/roadmaps/naar-een-overvloed-aan-zonnestroom/wereldwijd-voorop-lopen-met-innovatieve-zonnepanelen/nieuwste-technologie-zonnepanelen/

  3. Cloggie on Fri, 2nd Oct 2020 3:04 pm 

    Swiss solar panel machine manufactures Meyer-Burger wants to stop selling its advanced machines to China and instead wants to produce top-of-the-bill panels in Europe:

    https://deepresource.wordpress.com/2020/07/07/meyer-burger-strategy-change/

  4. Theedrich on Fri, 2nd Oct 2020 4:12 pm 

    White genosuicidism is now all the rage. The feminist Suzanne Scott (formerly of White-hating MSNBC) is CEO of Fox News, parented by 21st Century Fox, a subsidiary of Disney which is CEOed by Bob Chapek, an Ashkenazi Jew.  Chapek, like all of his tribesfellows, is slyly cozying up to his kill-Whitey kin.  Do not expect anything truly “conservative” to come out of Fox.  The entirety of American and Western media is controlled by the Chosenites.

    It is no wonder that it was a fugly Canadian women, Pascale Cecile Veronique Ferrier of Quebec, who recently sent the poison ricin to the White House, with a letter calling Trump an “ugly tyrant clown.”  She was indoctrinated by all of the Canadian media, which are controlled by Hebrews, as are the media of western Europe.  Ferrier was just a mule doing their bidding a bit more enthusiastically than most of her countrymen, who share her sentiments because of the Yid drivel pumped out by the dictatorship up there.  Now that Trump and the First Lady have been shown to have tested positive for the ChiCom virus, all of the zombies brainwashed by the media will be demanding that it take them out.  Hate-filled House Speaker Nancy Pelosi is gloating over the issue.  Leftist hatred has now reached levels found elsewhere only in insane asylums.

    A main Democrat campaign strategy is to force Trump to “condemn White supremacy,” i.e., all Whites.  Any means will do:  religion (“Jeezus said…”), outright Marxism (“you have nothing to lose but your White-imposed chains”), envy (“the rich White Trump pays fewer taxes than you, Joe Blow”), distortions of corona-virus facts (“Trump the racist is killing millions of Americans, especially the colored”), etc.

    Of note is that investigative reporter Allum Bokhari has just published a book, “#DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal the Election” (https://www.amazon.com/DELETED-Techs-Battle-Movement-Election/dp/154605930X/ref=sr_1_1?dchild=1&keywords=deleted&qid=1601616325&sr=8-1) which reveals how a new method of subversion, “Machine Learning Fairness,” by Google, Facebook, YouTube and Twitter is now twisting online information to prevent Donald Trump from being elected and in the process destroy American democracy forever.  The megalomaniac leaders of these IT companies need to be canceled, since they are in effect a criminal government in themselves.

    Meanwhile a host of other problems (unpayable student debt;  Democrat-shutdown-caused unemployment;  suicides of despair in the military and the heartland;  California fires) are all blamed on the president.  And the sinking American IQ (the Dem base of Negroes, plus importation of more and more ThirdWorld subhumans, along with decaying public education) swallows the blame-it-on-Trump propaganda hook, line and sinker.

    As far as those darkies are concerned, the crazier White women will be induced to have human-chimpanzoidal chimeras with them.  After all, we need more semi-humans to feel guilty about as we regress into the animal past.  Also, teratisms and Mongoloid idiots make such good pets.  After the election is sorted out around, maybe, New Year’s, the Coons will be left to kill one another on their own.  No White police needed.  And, if the Bidenites are elected to control the Senate, the Supreme Court and the number of states will be expanded, so that there will never be a Republican government again.  White genosuicide will be complete.  The Jews will have accomplished their goal even without gas ovens.

    Soviet America, here we come.

  5. Abraham van Helsing on Fri, 2nd Oct 2020 5:04 pm 

    White genosuicide will be complete. The Jews will have accomplished their goal even without gas ovens.
    Soviet America, here we come

    Even the Russians fought a civil war of five years, before the USSR was a fact. I find it difficult to believe that white America, armed to the teeth, will submit to darkies without a fight. If the whites would lose, THEN USSR-2.0 would be a fact indeed.

  6. Abraham van Helsing on Fri, 2nd Oct 2020 6:08 pm 

    All the cards are now in Eurasia:

    https://www.express.co.uk/news/uk/1326668/brexit-news-eu-uk-trade-talks-michel-barnier-china-spt

    “Brexit panic: EU-China deal to ‘cast long shadow’ over FTA with Britain“

    The weakness of the Anglo geopolitical position is obvious to China, to Erdogan, to Putin and to the EU. The chaos in the US plus no-deal Brexit in the making, plus a deal between Macron, Putin and Xi will ensure that Eurasia will determine how the world of the 21st centure will look like.

    An era is coming to an end. It’s going to be brutal, with the old post-WW2 order evaporating everywhere.

  7. Theedrich on Sat, 3rd Oct 2020 4:00 am 

    The problem: White psychic demasculinization. The Turks, Mohammedan savages (which they still are), were able to conquer Constantinople because the upper classes had become overly concerned with their own wealth and past glory, and ignored the larger issue of national survival.  So the animals took over.

    Ditto in America today.  The educated elites could not case less about the existence of the nation.  They are frightened out of their gourds that they might be called “racist” or some kind of “phobe.”  The only “courage” they have is in attacking Whites who do not want to commit racial suicide.  And the Jew-strangled politicians use the police power of the state to enforce the subjugation of any upstart Whites who object.  Destroying the White race is what drives the Leftist monster.  Which is why they hate Trump so much:  they erroneously view him as a speed bump in their march to annihilate White civilization and conquer the globe.

    Ultimately this is a struggle over the continuation of 4.5 billion years of evolution on this planet.  The Jews, Marxists, genosuicidal White anti-Whites, and ThirdWorld parasites aim to devour the wealth and accomplishments of our race and put an end to the earth.  (Their drivel about concern for Gaia is a complete lie.)  The millions of narcotics-addicted Whites and Yidbox-hypnotizees have no idea what is coming.  The military is likewise infected with “God and country” ideational absurdities.  Its Whites will go down fighting and murdering their own race, just as they did in the Civil War (1861-65).

    Only the Austrian had a clear understanding of what was at stake.  Through a tragic sequence of events and gross mistakes, he lost.  The media-controlling Jews are counting on a similar sequence to eviscerate the last of the men in the U.S.  The TV-castrati have already been taken care of.

    If there is any hope left whatsoever, it will be in the ejection of suicide-promoting Christianity from the nation, and an awakening to the prospect of impending mass death.

  8. Theedrich on Sat, 3rd Oct 2020 9:27 am 

    The “new normal” cartoon is right on target!

  9. Duncan Idaho on Sat, 3rd Oct 2020 9:47 am 

    Trump’s history of misinformation is making it difficult for some people to believe he is ill with COVID-19

    I’m suspicious also– if the Fat Boys mouth was open, he was lying, and if telling the truth, misinformed.

  10. Duncan Idaho on Sat, 3rd Oct 2020 9:56 am 

    Now, more COVID cases in White House than in all of New Zealand—
    At least first in something?

  11. Justin Trudeau the cocksucker on Sat, 3rd Oct 2020 10:05 am 

    All discrimination will end by next Wednesday !

  12. Duncan Idaho on Sat, 3rd Oct 2020 10:09 am 

    Biggest Irony of 21st Century: Was GOP Elite sickened at Barrett fête while Plotting to end Americans’ Health Care?

    https://www.juancole.com/2020/10/sickened-plotting-americans.html

  13. makati1 on Sat, 3rd Oct 2020 6:19 pm 

    Ah, the “Fall of the West” saga is getting more and more interesting! “The Great Leveling/Reset” is moving forward.

    What if…with about 30 days to go in the prompter reader contest… BOTH of the main contestants die?

    Tear up all the mail-in ballots and start over? Will they turn to Kamala Harris and Mike Pence? OR let Nancy Pelosi rule until a new election? Or…?

    I hope Trump survives and wins next month. It will make the next 4 yours even more exciting and will put the finishing touches on the Amerikan Nightmare.

    BTW: Biden would do the same, faster, but I do not like his methods.

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