Market Overview

Chevron's Q2 Earnings Preview

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Chevron (NYSE: CVX) announces its next round of earnings this Friday, August 2. Here is Benzinga's everything-that-matters guide for the Q2 earnings announcement.

Earnings and Revenue

Chevron EPS is expected to be around $1.81, according to sell-side analysts. Sales will likely be near $40.55 billion.

In the same quarter last year, Chevron posted a profit of $1.78 on sales of $42.24 billion. If the company were to match the consensus estimate when it reports Friday, earnings would be up 1.69%. Revenue would be down 3.99% from the same quarter last year. Here's how the company's reported EPS has stacked up against analyst estimates in the past:

 

Quarter Q1 2019 Q4 2018 Q3 2018 Q2 2018
EPS Estimate 1.410 1.87 2.08 2.09
EPS Actual 1.390 1.95 2.33 1.78

Stock Performance

Over the last 52-week period, shares of Chevron have declined 2.5%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release. Long-term shareholders are already wary of 12-month losses prior to the announcement.

Over the past 90 days, analysts have generally adjusted their estimates higher for EPS and revenues. Analysts generally rate Chevron stock as Neutral. The strength of this rating has maintained conviction over the past three months.

Conference Call

Don't be surprised to see the stock move on comments made during its conference call. Chevron is scheduled to hold the call at 11:00 a.m. ET and can be accessed here: https://edge.media-server.com/mmc/p/qn9ot4y8

Posted-In: Earnings News

 

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