Chevron Misses Q2 Earnings Estimates

Chevron Corporation NYSE CVX booked second-quarter earnings below analyst expectations, weighed down by lower refining margins and weak natural gas prices, as it announced the relocation of the company’s headquarters from San Ramon, California, to Houston, Texas. The U.S. oil and gas supermajor reported on Friday earnings of $4.4 billion, for second quarter 2024, or $2.43 per diluted share, down from $6.0 billion in earnings and $3.20 EPS for the same period of 2023.

However, U.S. and international downstream earnings were lower compared to last year, primarily due to lower margins on refined product sales. After the earnings miss, Chevron’s stock fell in pre-market trade in New York early on Friday. “This quarter, we delivered strong production, enhanced our global exploration portfolio and extended our track record of consistent shareholder returns with over $50 billion of distributions in the last two years,” chairman and CEO Mike Wirth said.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

TotalEnergies Misses Earnings Estimates Amid Weak LNG Sales and Refining MarginsTotalEnergies reported lower-than-expected second-quarter earnings due to declining LNG sales and weaker refining margins.
Fonte: OilandEnergy - 🏆 34. / 68 Consulte Mais informação »

US consumers show signs of flagging, companies and analysts warnEarnings misses and sentiment slowdown suggest crucial driver of economic growth may have peaked
Fonte: ftenergy - 🏆 47. / 63 Consulte Mais informação »

BP Boosts Dividend as Q2 Earnings Top EstimatesBP reported better-than-expected second-quarter earnings, leading the company to increase its dividend by 10% and extend its share buyback program.
Fonte: OilandEnergy - 🏆 34. / 68 Consulte Mais informação »

Shell Begins New Share Buyback as Earnings Beat EstimatesShell announced a new $3.5 billion share buyback program after reporting better-than-expected earnings for the second quarter.
Fonte: OilandEnergy - 🏆 34. / 68 Consulte Mais informação »

Hess Beat Earnings Estimates On Robust Guyana OutputHess Corp. has posted an impressive second-quarter earnings report with its stake in prolific Guyana helping it exceed estimates
Fonte: OilandEnergy - 🏆 34. / 68 Consulte Mais informação »