Chevron profit rises but sales fall, amid COVID-19-related drop in demand for commodities [MarketWatch]
Chevron Corporation (CVX)
Last chevron corporation earnings: 5/1 06:45 am
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Source: MarketWatch
Chevron Corp. reported Friday first-quarter earnings that rose but revenue that fell from a year ago, as commodity prices fell sharply in March primarily because of reduced demand amid the COVID-19 pandemic. "Financial results in future periods are expected to be depressed as long as current market conditions persist," the energy giant said in a statement. The stock was little changed in premarket trading. Net income rose to $3.60 billion, or $1.93 a share, from $2.65 billion, or $1.39 a share, in the year-ago period. Sales fell 13.1% to $29.71 billion, while total revenue, which includes income from equity affiliates and other income, declined 10.5% to $31.50 billion. The FactSet consensus for earnings per share was 65 cents and for sales was $29.1 billion. Chevron said it was further reducing its 2020 capital expenditure outlook by $2 billion to $14 billion, and expects operating costs to decrease by $1 billion. The company previously announced that it was suspending stock repurchas
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CVX
Earnings
- 1/30/26 - Beat
CVX
Sec Filings
- 3/4/26 - Form 3
- 3/4/26 - Form 4
- 3/4/26 - Form 4
- CVX's page on the SEC website