Chevron Misses Q2 Earnings Estimates

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 25 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 44%
  • Publisher: 68%

Chevron أخبار

Earnings,Oil And Gas,Production

Chevron reported lower-than-expected second-quarter earnings due to weak refining margins, despite record oil and gas production, and announced the company's headquarters relocation to Houston.

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.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 34. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

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.
مصدر: OilandEnergy - 🏆 34. / 68 اقرأ أكثر »

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

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.
مصدر: OilandEnergy - 🏆 34. / 68 اقرأ أكثر »

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.
مصدر: OilandEnergy - 🏆 34. / 68 اقرأ أكثر »

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
مصدر: OilandEnergy - 🏆 34. / 68 اقرأ أكثر »