Exxon’s SEC Filing Suggests Earnings Will Be Better Than Wall Street Thinks. Why Its Stock Is Dropping.

Exxon Mobil (XOM) released an update of factors impacting its fourth-quarter profits that suggests a likely earnings beat when it reports on Feb. 1. The stock is dropping, however, as oil prices slip.

After Thursday’s close, Exxon (ticker: XOM) submitted a filing to the SEC that lists the factors that will impact its fourth-quarter earnings, including “market dynamics, seasonal patterns, and planned activities.” It’s a lot of numbers broken down by segment, but Wall Street quickly pounced on the filing to do the math.