Chevron (CVX) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Chevron reported revenue of $52.23 billion for the quarter ended December 2024, marking a 10.7% increase year-over-year and exceeding the Zacks Consensus Estimate by 11.21% [1] - The earnings per share (EPS) for the quarter was $2.06, down from $3.45 in the same quarter last year, resulting in an EPS surprise of -5.94% compared to the consensus estimate of $2.19 [1] Financial Performance - Total net oil-equivalent production was 3,350 million barrels per day, slightly above the six-analyst average estimate of 3,341.59 million barrels per day [4] - U.S. upstream net oil-equivalent production was 1,646 million barrels per day, exceeding the four-analyst average estimate of 1,635.29 million barrels per day [4] - International upstream net oil-equivalent production was 1,704 million barrels per day, close to the four-analyst average estimate of 1,706.85 million barrels per day [4] - Refined product sales in the international downstream segment reached 1,557 million barrels per day, surpassing the two-analyst average estimate of 1,486.59 million barrels per day [4] - U.S. downstream refined product sales were 1,257 million barrels per day, exceeding the two-analyst average estimate of 1,217.32 million barrels per day [4] Segment Performance - Sales and other operating revenues amounted to $48.33 billion, which is a year-over-year decline of 1.2% and above the three-analyst average estimate of $45.81 billion [4] - Income from equity affiliates was reported at $688 million, significantly lower than the estimated $1.16 billion, reflecting a 30.5% decrease year-over-year [4] - The segment income for "All Other" was reported at -$817 million, worse than the three-analyst average estimate of -$494.36 million [4] Stock Performance - Chevron's stock has returned +0.9% over the past month, while the Zacks S&P 500 composite has increased by +2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]