The Clap
Exxon Mobil (NYSE: XOM) teased investors with possibly record quarterly profits for Q1-2022.
The deets
The increase in earnings comes after the Russia-Ukraine crisis sent oil & gas prices soaring. Exxon’s Q1-2022 operating profits could jump by almost 41% over the previous quarter.
Official Exxon earnings are expected to be released on April 29, 2022.
Why this matters
Energy giants like Exxon, Chevron, Shell, & BP are being urged by the government to suspend dividends & share buybacks until the Russia-Ukraine crisis is over. Energy companies have also been called out for “profiteering off the crisis in Ukraine.”
