CatalystMacro

Exxon says higher Q3 refining margins could add about $4.5B to downstream profit, per its 8-K, on top of the $4.1B it made in refining in Q2. Refining spreads are doing the work here, and that is a ca

Exxon expects $4.5B Q3 earnings boost from higher refining margins.

Context

What happened: ExxonMobil ($XOM) said in an 8-K filing that higher refining margins during Q3 could boost its downstream profit by about $4.5B. Key numbers: ~$4.5B potential Q3 downstream profit boost; $4.1B earned from refining in Q2. Why it matters: The filing points to a large quarter over quarter increase in refining profit, and analysts are expecting Exxon's Q3 refining results.

What changed

ExxonMobil ($XOM) said in an 8-K filing that higher refining margins during Q3 could boost its downstream profit by about $4.5B.

Why it matters

The filing points to a large quarter over quarter increase in refining profit, and analysts are expecting Exxon's Q3 refining results.

Sources

seekingalpha