Exxon Falls as Diesel Margins Hit Record $108

EarningsCommodity
โดย GuruFocus·US·Read original
Summary · why it matters

Exxon Mobil fell 0.9% to $160.78 on Friday, even as America's diesel crunch hands its refineries a record opportunity. The U.S. diesel crack spread recently smashed an all-time high of $108.02 per barrel, with average pump prices reaching $5.820 per gallon. Exxon's Energy Products segment delivered $5.47 billion, nearly 38% of its $14.53 billion in second-quarter earnings, after the company produced more diesel than in any previous second quarter. Operating cash flow hit $23.56 billion and free cash flow reached $17.2 billion. However, crack spreads are not pure profit due to refining, transportation, and hedging costs, and the stock trades 26.75% above its $126.85 GF Value estimate, suggesting it is not cheap.

Impact on stocks 1

Energy Transition & Power Demand▲ · 1 stocks
Exxon Mobil Corp
XOM
▲ PositiveDemandrelevance

Record diesel crack spread and high demand boost Exxon's refining margins and earnings.

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