Chevron (CVX) Q1 Earnings Beat on Strong U.S. Production

Chevron Corporation (CVX) reported adjusted first-quarter earnings per share of $2.93, ahead of the Zacks Consensus Estimate of $2.84. 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 1,573 thousand oil-equivalent barrels per day (MBOE/d) came in above the consensus mark of 1,544 MBOE/d.However, the company’s bottom line fell from the year-ago adjusted profit of $3.55 due to weaker oil and natural gas realizat ...