Categories AlphaGraphs, Earnings, Other Industries
Chevron Q2 earnings get a boost from Anadarko deal termination
In the midst of volatile oil prices and geo-political conditions, Chevron (NYSE: CVX) reported 8% decline in total revenues and other income in the second quarter of 2019 to $38.85 billion, which was lower than the street estimate of $40.55 billion.
The San Ramon, California-based oil giant said its earnings for the second quarter stood at $2.27 per share, compared to $1.78 per share in the same quarter last year. Earnings were boosted by $740 million associated with the Anadarko merger termination fee. Analysts were expecting flat year-over-year EPS growth.

CVX stock gained 1% post the Q2 results. Chevron’s shares have dropped over 2% in the trailing 52 weeks but have gained 14% thus far this year.
CEO Michael Wirth said, “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.”
Worldwide net oil-equivalent production was 3.08 million barrels per day in second-quarter 2019, an increase of 9% from a year ago.
READ: Honda Motor begins fiscal 2020 on a dull note, sells fewer cars in North America
In May, Chevron completed the acquisition of Pasadena Refining System Inc. for $350 million. The same month, the company also decided to not pursue the acquisition of Anadarko Petroleum Corp. (NYSE: APC). Anadarko has agreed to be acquired by Occidental Petroleum (NYSE: OXY).
Earlier today, rival ExxonMobil (NYSE: XOM) reported a 21% dip in earnings for the second quarter due to poor performance from the downstream and chemical division. However, the results exceeded analysts’ expectations.
Most Popular
What to expect when Domino’s Pizza (DPZ) reports Q2 2025 results
Domino’s Pizza, Inc. (NASDAQ: DPZ) is expected to report second-quarter 2025 results on July 21, before the opening bell, with the market looking for signs of momentum following the pizza
Here are a few reasons to be optimistic about Chewy (CHWY)
Shares of Chewy, Inc. (NYSE: CHWY) stayed red on Friday. The stock has gained 10% over the past three months. The pet products retailer has been performing well with top
Important takeaways from Conagra Brands’ Q4 2025 report
Conagra Brands, Inc. (NYSE: CAG), a leading provider of consumer packaged goods, reported weaker-than-expected sales and adjusted earnings for its fourth quarter, reflecting ongoing economic uncertainty and muted consumer spending.