Categories AlphaGraphs, Earnings, Energy

CVX Earnings: Chevron Q2 2022 profit beats estimates; revenue up 83%

Chevron Corporation (NYSE: CVX) reported a sharp increase in second-quarter profit as the energy giant’s revenues soared 83%. Both earnings and the top line exceeded the consensus estimates.

Total revenues and other income rose sharply to $68.8 billion in the June quarter and came in above analysts’ forecast. Revenues benefited from a record growth in crude oil prices.

Reflecting the positive top-line performance, second-quarter adjusted profit moved up to $5.82 per share from $1.71 per share in the same period of 2021. Unadjusted profit rose to $11.6 billion or $5.95 per share from $3.08 billion or $1.60 per share last year. Earnings also beat the estimates.


Check this space to read management/analysts’ comments on Chevron’s Q2 results


“Second quarter financial performance improved as we delivered a return on capital employed of 26 percent. The company also strengthened its balance sheet, lowering its debt ratio to under 15 percent, and increased the top end of its annual share repurchase guidance range to $15 billion,” said Mike Wirth, Chevron’s chief executive officer.

Prior Performance

  • Chevron Q1 2022 earnings infographic

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Intuit looks to end FY24 on a high note, focused on AI and assisted segment

Intuit Inc. (NASDAQ: INTU), the maker of popular accounting software TurboTax and QuickBooks, has reported better-than-expected third-quarter results and mixed guidance. Currently, the company's investments are focused on data and

A glimpse into Macy’s (M) progress on its Bold New Chapter

Shares of Macy’s, Inc. (NYSE: M) were up over 1% on Friday. The stock has gained 9% over the past one month. Earlier this week, the retailer delivered first quarter

Earnings Summary: BJ’s Wholesale Club (BJ) reports Q1 2024 results

Department store chain BJ’s Wholesale Club Holdings, Inc. (NYSE: BJ) has announced results for the first quarter of 2024, reporting an increase in net sales. Q1 earnings, on a per-share basis,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top