Exxon Mobil Q2 2024 guidance: Pioneer acquisition to add $0.2-0.4B earnings, gas prices drag

EXXON MOBIL CORP

2024-Q2 EPS reported $4.20 revenue$176,143,000,000

Q1 2024 GAAP earnings $8.2B (flat ex-identified items); Q2 hit by lower gas prices and weak refining margins.
Liquids prices +$0.3-0.7B; gas prices -$0.7 to -$0.3B; Energy Products margins -$1.5 to -$1.1B.
Pioneer (closed May 3) adds 500-550 kboed; GAAP earnings $0.2-0.4B after $0.2-0.1B one-time costs.
Pre-tax DD&A from Pioneer $0.9-1.1B; capex $0.7-0.9B for May-June period.
Expected diluted shares ~4,250M post Pioneer issuance less buybacks.

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