Energy exploration company Chevron Corporation (NYSE: CVX) announced second-quarter 2024 financial results, reporting a decline in net profit and an increase in revenues.
Net income attributable to Chevron Corporation dropped to $4.43 billion or $2.43 per share in the second quarter from $6.0 billion or $3.20 per share in the prior year period. Adjusted profit decreased 17% year-over-year to $2.55 per share.
Total revenues and other income were $51.2 billion in the June quarter, up 5% from $48.9 billion reported in the year-ago quarter.
“Despite recent operational downtime and softer margins, we remain poised to deliver significant long-term earnings and cash flow growth,” said Mike Wirth, Chevron’s chief executive officer.