Overview
- Exxon, which reported Friday, beat on adjusted EPS at $1.16 while net income fell to $4.2 billion after hedge and timing losses linked to disrupted Middle East flows.
- Management explained that derivatives are marked to current prices each quarter but revenue from the related physical cargoes is booked only on delivery, which turns rising prices into temporary paper losses.
- Exxon detailed a 6% sequential output drop, a $700 million writedown on undelivered cargoes, a $706 million hedge loss, and $3.9 billion in timing headwinds that it expects to unwind, with CEO Darren Woods saying flows could normalize in one to two months though damaged Qatar LNG trains will take longer.
- Cboe posted record first‑quarter revenue of $728.9 million, raised its 2026 organic growth outlook, cut its expense plan, and said its restructuring includes about a 20% workforce reduction.
- GE HealthCare missed Q1 EPS, cut full‑year guidance, and moved to combine imaging and advanced visualization into a new Advanced Imaging Solutions unit led by Phil Rackliffe, underscoring mixed results across sectors as others like Quaker Houghton and HF Sinclair focused on cost and reliability.