S&P 500 Q1 Energy Sector Earnings Preview: 3rd Largest Earnings Decline of All 11 Sectors

The Energy sector will be a focus for the market this week, as Exxon Mobil and Chevron are scheduled to report earnings on April 26. Despite a slight year-over-year increase in the average price of oil in Q1 2024 relative to Q1 2023, the Energy sector is reporting the third-largest (year-over-year) earnings decline of all eleven sectors in the S&P 500 for Q1 2024 at -25.6%. At the sub-industry level, four of the five sub-industries in the sector are reporting …