Categories AlphaGraphs, Earnings, Energy

It’s a mixed Q3 from Chevron

Low commodity prices weigh on the oil major; yet posts a surprise profit in Q3

Chevron Corporation (NYSE: CVX) reported third-quarter 2020 financial results before the regular trading hours on Friday. The Big Oil firm reported Q3 revenue of $24.4 billion, missing the average analysts’ estimate. Meanwhile, the company surprised the market with adjusted net earnings of $0.11 per share, even as the street was expecting a loss.

CVX shares were modestly trading in red immediately following the announcement. The stock has lost half of its value since the beginning of this year as part of the pandemic related sell-off.

chevron Q3 2020 earnings

Looking forward to listening to management/ analyst comments on Q3 results? Stay tuned here for Chevron Q3 2020 earnings call transcript

CEO Michael Wirth said, “We remain focused on what we can control – safe operations, capital discipline and cost management. Our actions are guided by our long-standing financial priorities: to protect the dividend, invest for long term value and maintain a strong balance sheet.”

Prior performance

Most Popular

Key highlights from Adobe (ADBE) Q2 2021 earnings results

Adobe Systems Incorporated (NASDAQ: ADBE) reported second quarter 2021 earnings results today. Total revenue grew 23% year-over-year to $3.84 billion. GAAP net income was $1.11 billion, or $2.32 per share,

Three factors that bode well for Delta Air Lines (DAL) going forward

Shares of Delta Air Lines Inc. (NYSE: DAL) have gained 45% over the past 12 months and 11% since the beginning of this year. After a particularly distressful period, like

KR Earnings: All you need to know about Kroger Q1 2021 earnings results

The Kroger Co. (NYSE: KR) reported first-quarter 2021 earnings results today. Total company sales were $41.3 billion compared to $41.5 billion in the same period last year. Excluding fuel, sales

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