In the 4th quarter of 2024, the company expects a decrease in earnings compared to the 3rd quarter of the same year. The 3rd quarter of 2024 saw earnings of $8.6 billion under the non-GAAP metric, inclusive of identified items. However, the company forecasts market factors to impact the 4th quarter, with changes in liquids prices expected to decrease earnings by approximately $0.9 billion and changes in gas prices anticipated to have a neutral effect.
Additionally, the company foresees a decrease in industry margins, with an estimated impact of approximately $0.5 billion to $0.3 billion across various segments. Other factors, such as scheduled maintenance and year-end inventory effects, are also expected to contribute to the anticipated decrease in earnings for the 4th quarter.
Moreover, the company anticipates divestments to have a positive impact, with estimated earnings of $0.3 billion to $0.5 billion, while impairments are expected to have a negative impact, with an estimated decrease in earnings of $0.5 billion to $0.3 billion. Tax-related items are projected to have a positive impact, with estimated earnings of $0.1 billion to $0.3 billion.
Following these announcements, the company's shares moved -2.1%, and are now trading at a price of $106.49. If you want to know more, read the company's complete 8-K report here.
