ExxonMobil (NYSE: XOM) recently provided investors an early look into its upcoming third-quarter earnings report. The oil giant revealed that higher oil prices should boost its upstream earnings by $900 million to $1.3 billion in the third quarter. That should give the oil company the fuel to post strong results for the period.
Here’s a look at Exxon’s preliminary results and whether they signal that now’s a good time to buy the oil giant. If you’re interested in investing in ExxonMobil, check out this primer on how to get started.
Exxon expects its third-quarter operating profit to be between $8.3 billion and $11.4 billion. That compares to the current analysts’ consensus estimate that Exxon will earn $9.2 billion in the quarter.