Chevron Corporation (CVX) reported adjusted fourth-quarter earnings per share of $2.06, missing the Zacks Consensus Estimate of $2.19 and well below the year-ago adjusted profit of $3.45. The underperformance stemmed from weaker oil price realizations and a dip in refined product sales margins.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company generated revenue of $52.2 billion. The sales figure beat the Zacks Consensus Estimate of $47 billion and increased 10.7% year over ye ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Fourth quarter 2024 earnings call January 31, 2025 © 2025 Chevron 3GP at TCO Cautionary statement and additional information CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This presentation contains forward-looking images and statements relating to Chevron's operations and strategy that are based on management's current expectations, estimates, and projections about the petroleum, chemicals, an ...

Energy giant Chevron used the phrase "Gulf of America" repeatedly in its earnings release Friday, adhering to a directive made by President Donald Trump on his first day back in office.Chevron previously used "Gulf of Mexico" to refer to that body of water, which stretches from Texas to Florida on the southeastern border of the U.S. Trump signed an executive order on Jan. 20 to rename the Gulf of Mexico as the Gulf of America."The Gulf will continue to play a pivotal role in shaping America's future and the ...

The shares of blue-chip energy concern Chevron Corp (NYSE:CVX) are down 1.3% in premarket trading after the company missed fourth-quarter earnings estimates. Weakness in its refining business drove the decline, with its first loss in four years. However, revenue surpassed expectations with ease.Coming into today, CVX boasts modest leads on a year-to-date and year-over-year basis, up 7.9% and 6%, respectively. The equity is on track for a monthly win, but is now poised to turn in a loss for the week. Set to ...

Key TakeawaysChevron posted fourth-quarter revenue well above analysts' estimates Friday but profit fell short.The energy giant also announced a 5% increase to its quarterly dividend to $1.71 per share.Ahead of its earnings report, Chevron said it would partner with GE Vernova to build natural-gas power stations for AI data centers across the U.S. Chevron (CVX) stock slipped in premarket trading Friday after the energy giant's fourth-quarter profit came up short of analysts' expectations. The energy giant r ...

Chevron (CVX) came out with quarterly earnings of $2.06 per share, missing the Zacks Consensus Estimate of $2.19 per share. This compares to earnings of $3.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.94%. A quarter ago, it was expected that this oil company would post earnings of $2.47 per share when it actually produced earnings of $2.51, delivering a surprise of 1.62%.Over the last four quarters, the company has su ...

Financial Performance - Chevron reported earnings of $3.2 billion ($1.84 per share - diluted) for Q4 2024, an increase from $2.3 billion ($1.22 per share - diluted) in Q4 2023[3] - Adjusted earnings for Q4 2024 were $3.6 billion ($2.06 per share - diluted), down from $6.5 billion ($3.45 per share - diluted) in Q4 2023[3] - Net income attributable to Chevron Corporation for Q4 2024 was $3,239 million, compared to $2,259 million in Q4 2023, reflecting a year-over-year increase of 43.4%[42] - Total adjusted earnings for the year ended December 31, 2024, were $18,256 million, down from $24,693 million in 2023, reflecting a decrease of 26%[50] - Adjusted earnings per share for the year ended December 31, 2024, were $10.05, down from $13.13 in 2023, reflecting a decrease of 23%[50] Production and Operations - Worldwide net oil-equivalent production increased by 7% year-over-year, with U.S. production rising by 19%[6] - Chevron's year-end 2024 proved reserves were approximately 9.8 billion barrels of net oil-equivalent[12] - Total upstream earnings for Q4 2024 were $4.304 billion, significantly up from $1.586 billion in Q4 2023, indicating a strong recovery in the upstream segment[43] - U.S. Upstream adjusted earnings for Q4 2024 were $1,603 million, a decrease of 32% from $2,368 million in Q4 2023[50] - International Upstream adjusted earnings for Q4 2024 were $2,531 million, down from $3,095 million in Q4 2023, indicating a decline of 18%[50] Shareholder Returns - Chevron returned a record $27 billion to shareholders in 2024, including $15.2 billion in share repurchases and $11.8 billion in dividends[6] - The company achieved a 5% increase in quarterly dividend to $1.71 per share, payable on March 10, 2025[6] Financial Health and Debt - The company's total debt increased to $24.541 billion in 2024 from $20.836 billion in 2023, resulting in a debt ratio of 13.9%, up from 11.5%[47] - The net debt ratio, which indicates the company's leverage, is a key metric for monitoring financial health, although specific figures were not provided in the documents[36] - Chevron's total assets decreased to $256.938 billion in 2024 from $261.632 billion in 2023, reflecting a reduction in overall asset base[47] - The company's total stockholders' equity decreased to $152.318 billion in 2024 from $160.957 billion in 2023, reflecting a decline in shareholder value[47] Cash Flow and Expenditures - Free cash flow for Q4 2024 was $4.4 billion, down from $8.1 billion in Q4 2023[8] - Capital expenditures (Capex) for 2024 were $16.4 billion, slightly higher than $15.8 billion in 2023[8] - The company reported a net cash provided by operating activities of $31.5 billion for the year ended December 31, 2024, down from $35.6 billion in 2023[48] Operating Expenses and Charges - The company's operating expenses in Q4 2024 were $9,257 million, up from $7,523 million in Q4 2023, indicating a 23.1% increase[42] - The net charges for Chevron in Q4 2024 were $(817) million, compared to $(474) million in Q4 2023, representing a significant increase in charges[26] - Chevron experienced a decrease in income from equity affiliates, reporting $688 million in Q4 2024, down from $990 million in Q4 2023[42] - Chevron's interest and debt expense increased to $199 million in Q4 2024 from $120 million in Q4 2023, reflecting a rise of 65.8%[42] Future Outlook and Strategy - The company plans to achieve $2-3 billion in structural cost reductions by the end of 2026[7] - Chevron aims to grow its lower carbon businesses, including renewable fuels and carbon capture technologies, as part of its long-term strategy[28] - The company plans to discuss its Q4 2024 earnings on January 31, 2025, providing further insights into its financial performance and future outlook[31] Special Items and Currency Effects - Total special items for the year ended December 31, 2024, amounted to $(4,885) million, compared to $(3,100) million in 2023, indicating an increase in special items[50] - Total foreign currency effects for Q4 2024 were $722 million, compared to $(479) million in Q4 2023, showing a significant positive shift[50]

Financial Results - Chevron Corporation is set to release its fourth-quarter financial results on January 31, 2025, before the market opens [1] - Analysts anticipate quarterly earnings of $2.11 per share, a decrease from $3.45 per share in the same period last year [1] - Projected quarterly revenue is $48.41 billion, an increase from $47.18 billion a year earlier [1] Production Update - Chevron's affiliate, Tengizchevroil LLP, has commenced oil production at the Future Growth Project in Kazakhstan's Tengiz oil field [2] - Following this announcement, Chevron shares rose by 0.4% to close at $156.32 [2] Analyst Ratings - Raymond James analyst Justin Jenkins has maintained an Outperform rating and raised the price target from $175 to $180 [4] - Truist Securities analyst Neal Dingmann has maintained a Hold rating and increased the price target from $160 to $164 [4] - Piper Sandler analyst Ryan Todd has maintained an Overweight rating but reduced the price target from $184 to $173 [4] - Wells Fargo analyst Roger Read has maintained an Overweight rating and raised the price target from $171 to $188 [4]

Group 1: Chevron's Initiative - Chevron Corporation (CVX) has partnered with Engine No. 1 and GE Vernova to develop natural gas power plants to meet the energy demands of AI-driven data centers, aiming for a multi-gigawatt-scale power plant co-located with the data center [1] - The partnership plans to leverage seven GE Vernova 7HA natural gas turbines to generate approximately 4 gigawatts of electricity, enough to power 3-3.5 million U.S. homes by the end of 2027 [6] - The initiative is part of a broader strategy to secure AI leadership and restore America as an industrial superpower by addressing energy challenges associated with AI advancements [5] Group 2: AI Competition and Infrastructure Investment - The competition in artificial intelligence between the United States and China is intensifying, highlighted by the launch of DeepSeek's AI chatbot, which aims to rival OpenAI's ChatGPT [2] - President Donald Trump approved an executive order to advance America's AI initiative, including the formation of a joint venture called Stargate, which will invest about $500 billion in AI infrastructure [3][4] - Stargate is expected to start with an initial investment of $100 billion and has the potential to increase to five times that amount, focusing on building new data centers in Texas [4] Group 3: Market Position and Alternatives - Chevron is one of the largest publicly traded oil and gas companies globally, with a Zacks Rank of 3 (Hold) [7] - Investors in the energy sector may consider better-ranked stocks such as ARC Resources Ltd. (AETUF), Equinor ASA (EQNR), and Gulfport Energy Corporation (GPOR), with AETUF and EQNR holding a Zacks Rank of 1 (Strong Buy) [8] - ARC Resources has an expected EPS growth rate of 50.78% for the next year, while Equinor's expected EPS growth rate for the next five years is 5.30% [9][10]