Market Overview

Chevron Reports Mixed Q2 Earnings


Chevron (NYSE: CVX) reported second-quarter earnings of $2.27 per share, which beat the analyst consensus estimate of $1.81 by 25.41%. This is a 27.53% increase over earnings of $1.78 per share from the same period last year.

The company reported quarterly sales of $38.85 billion, which missed the analyst consensus estimate of $40.55 billion by 4.19%. This is a 8.02% decrease over sales of $42.236 billion the same period last year.

"Second-quarter earnings and cash flow benefited from record quarterly production volumes and the receipt of the Anadarko merger termination fee, partially offset by the impact of lower oil and gas prices," said CEO Michael Wirth. "Net oil-equivalent production was the highest in the company's history, driven by continued growth in the Permian Basin and at Wheatstone in Australia."

Chevron shares were trading at $122 at time of publication. The stock has a 52-week high of $127.60 and a 52-week low of $100.22.

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Posted-In: Earnings News


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