ExxonMobil Posts Record Profits. Time to Buy the Dividend Aristocrat?
ExxonMobil (NYSE: XOM) delivered one of the best quarters in its history. The oil giant's profits soared to a record in the third quarter, even though oil prices cooled off in the period. That enabled the company to boost its dividend for the 40th straight year.
Here's a closer look at the quarter and whether now's a good time to buy the Dividend Aristocrat.
ExxonMobil's earnings rose to $19.7 billion in the third quarter of 2022. That eclipsed the $17.9 billion it reported in the second quarter and was nearly triple the $6.8 billion it earned in the third quarter of last year. The surging profit came even though oil prices and refining margins were lower than last quarter's.
Source Fool.com
