Chevron beats earnings expectations, returns more than $7 billion to shareholders
Chevron(CVX) CNBC·2024-11-01 18:19
Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders.Shares were up 2.6% in the premarket following the report's release.The oil major's quarterly profit, however, declined substantially compared to the year-ago period due to lower margins on refined product sales, lower prices and the absence of favorable tax times.Chevron is aiming to streamline its portfolio, with asset sales in Canada, Congo and Alaska expected to close in the fourth quarter of ...