Chevron (CVX) Q2 Earnings Miss on Natural Gas, Refining Woes
Chevron(CVX) ZACKS·2024-08-02 23:50
Chevron Corporation (CVX) reported adjusted second-quarter earnings per share of $2.55, lagging the Zacks Consensus Estimate of $2.88 and declining from the year-ago adjusted profit of $3.08. The underperformance stemmed from weaker natural gas realizations, plus a dip in refined product sales margins. This was partly offset by higher-than-expected U.S. production in the company’s key upstream segment. The unit’s domestic output of 1,572 thousand oil-equivalent barrels per day (MBOE/d) came in above the con ...