Chevron's Profit, Revenue Fall, Missing Expectations
November 01 2019 - 9:20AM
Dow Jones News
By Allison Prang
Chevron Corp.'s (CVX) third-quarter earnings fell by 36% from a
year earlier, while revenue fell by 18%.
Chevron's profit was $2.58 billion, or $1.36 a share, down from
$4.05 billion, or $2.11 a share, a year ago. Analysts polled by
FactSet were expecting $1.57 a share.
Revenue was $36.12 billion. Analysts guided for $38 billion.
Total net oil-equivalent production was 3 million barrels per
day.
"Lower crude oil and natural gas prices more than offset a 3
percent increase in net oil-equivalent production from last year's
third quarter," Chief Executive Michael Wirth said.
Chevron said it had a $430 million tax charge from cash
repatriation.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
November 01, 2019 09:05 ET (13:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Chevron (NYSE:CVX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Chevron (NYSE:CVX)
Historical Stock Chart
From Sep 2023 to Sep 2024