Chevron's Earnings Miss Estimates, Squeezed by Lower Refining Margins
Chevron(CVX) Investopedia·2024-08-02 21:05
Key TakeawaysChevron's second-quarter revenue beat estimates but earnings missed expectations.The company said it increased global oil production 11% from the same time last year, but lower margins on its refined products squeezed its earnings.Chevron also announced plans to move the company's headquarters to Houston, Texas from San Ramon, California. Chevron (CVX) reported better second-quarter revenue than analysts expected Friday, but profits missed estimates, thanks to lower margins on the oil and gas ...