UPDATE: Chevron Expecting Q1 Earnings to be Lower Than Q4
Chevron Corporation (NYSE: CVX) today reported in its interim update that earnings for the first quarter 2014 are expected to be lower than fourth quarter 2013, principally as a result of adverse foreign exchange effects, and selected asset impairments and related charges. Absent these impacts, first quarter 2014 earnings are expected to be comparable with the prior quarter's results. The interim update contains industry and company operating data for the first two months of the first quarter. Readers are advised that the commentary below compares results for the first two months of the first quarter 2014 to full fourth quarter 2013 results, unless indicated otherwise.
To see the remainder of the press release, which includes detailed figures for the upstream and downstream segments, click here.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.