Chevron Corporation (CVX) has reported a decline in its third-quarter profits compared to the same period last year; however, the results surpassed Wall Street projections.
The company registered earnings of $4.487 billion, or $2.48 per share, compared to $6.526 billion, or $3.48 per share, in the third quarter of the previous year. When excluding special items, Chevron’s adjusted earnings stood at $4.531 billion, or $2.51 per share.
On average, analysts anticipated earnings of $2.43 per share, based on data from Thomson Reuters, with these forecasts typically not accounting for special items.
Chevron’s revenue for the quarter decreased by 99.9%, settling at $50.669 billion, a significant drop from $54080 billion recorded last year.
Chevron Corporation's key financial metrics for the third quarter (GAAP) include:
- Earnings: $4.487 billion versus $6.526 billion in the previous year.
- Earnings per Share (EPS): $2.48 compared to $3.48 last year.
- Revenue: $50.669 billion compared to $54080 billion last year.