A slew of energy companies are scheduled to report results in the coming days – Royal Dutch Shell (RDSA) and ConocoPhillips (COP) will report on Thursday, January 31, while Exxon and Chevron (CVX) will post results on Friday. Earnings and expectations of these companies would set the tone for the energy industry in 2019.
Analysts expect Exxon to report earnings of $1.05 per share on revenues of $74.18 billion. During the same quarter last year, the energy giant reported earnings of $1.97 per share on revenues of $66.5 billion.
Investors may expect to hear a lot about headwinds in both the upstream and downstream operations during the post-earnings conference call. Also, expect commentary on the economic slump in China and the impact of the trade tensions in the oil industry. In December, the Asian country reportedly witnessed a fall in both exports and imports.
Another key area to look out for is the commentary on the impact of the recently imposed sanctions on Venezuela’s state-owned oil company Petróleos de Venezuela (PDVSA). Though Exxon has already scrapped its operations in Venezuela, the embargo could dent its refining activities.
