The oil and gas giant reported EPS of only 0.55 cents per share, whereas the initial forecasts were for $ 0.70. This performance measured a decline of almost 50% compared to Q1 of 2018 when the earnings per share were reported to be $1.09.
According to Exxon’s chairman Darren Woods, the company’s performance in the first quarter suffered from poor results in its refining and chemical sectors.
As a result of that, Exxon’s stock price fell to 80.49 at the end of Friday’s trading session, which measures a decline of $1.73 in the share price from Thursday’s closing price of 82.22, which is a drop of 2.10% in total.
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