Chevron (CVX) Q4 Earnings Beat on Record U.S. Production

Chevron Corporation (CVX) reported adjusted fourth-quarter earnings per share of $3.45, ahead of the Zacks Consensus Estimate of $3.29. The outperformance could be attributed to higher-than-expected U.S. production in the company’s key upstream segment. The unit’s domestic output of 1,598 thousand oil-equivalent barrels per day (MBOE/d) set a new quarterly record and came in above the consensus mark of 1,462 MBOE/d.However, the company’s bottom line fell from the year-ago adjusted profit of $4.09 due to wea ...