Categories AlphaGraphs, Earnings, Energy

CVX Earnings: Chevron reports lower revenue and profit for Q1 2024

Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues.

Chevron Q1 2024 earnings infographic

Net income attributable to Chevron Corporation was $5.50 billion or $2.97 per share in the first quarter, compared to $6.57 billion or $3.46 per share last year. Adjusted profit decreased 17% year-over-year to $2.93 per share.

Total revenues and other income were $48.72 billion in the March quarter, down 4% from $50.79 billion reported in the year-ago quarter.

“We had another quarter of strong operational and financial performance and delivered superior cash returns to shareholders,” said Mike Wirth, Chevron’s chief executive officer.

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