The Rabid Capitalist

Professor Glenn A. Okun

Exxon Mobil (XOM):  Exxon Mobil’s third-quarter free cash flow more than doubled from the prior period to $11.7 billion, exceeding consensus estimates of $9.36 billion.  The company increased its quarterly dividend to 95 cents a share.   Elevated crude prices and oil-refining margins were cited as contributing to its results.  XOM missed on earnings by 9 cents per share due to chemical earnings and hedging costs.