Exxon Mobil Corp. XOM said late Wednesday it expects lower natural-gas prices to dial down its second-quarter profits for its upstream, or exploration and production, business. Changes in gas prices are expected to shave off between $2.2 billion and $1.8 billion from the quarterly results, Exxon says. Scheduled maintenance and lower seasonal gas demand are also drags, the energy giant said. Exxon has not set a firm date for its second-quarter results but is seen reporting in late July or early August. Analysts polled by FactSet expect Exxon to report adjusted EPS of $2.28 a share on sales of $91.1 billion in the quarter, which would compare with adjusted EPS of $4.14 on sales of $115.7 billion in the second quarter of 2022. Shares of Exxon dropped 0.9% in the extended session Wednesday after ending the regular trading day down 0.5%.
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