Chevron Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Chevron Corp (NYSE:CVX) will unveil its latest earnings on Friday, April 27, 2012. Chevron provides management and technology support to international subsidiaries that operate petroleum, chemicals, mining, power generation, and energy services.

Chevron Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $3.31 per share, a rise of 7.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $3.11. Between one and three months ago, the average estimate moved up. It has risen from $3.13 during the last month. Analysts are projecting profit to rise by 0.4% compared to last year’s $13.38.

Past Earnings Performance: Last quarter, the company missed estimates by 28 cents, coming in at net income of $2.58 per share versus a mean estimate of profit of $2.86 per share. In the third quarter of the last fiscal year, the company beat estimates by 50 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 20% in revenue from the year-earlier quarter to $72.42 billion.

Analyst Ratings: Analysts are bullish on this stock, with 11 analysts rating it as a buy, one rating it as a sell and two rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 3.2% to $5.12 billion ($2.58 a share) from $5.29 billion ($2.64 a share) the year earlier, missing analyst expectations. Revenue rose 22.7% to $58.01 billion from $47.3 billion.

Key Stats:

The company enters this earnings announcement with substantial revenue momentum. The company has averaged year-over-year revenue growth of 27.9% over the last four quarters.

The company is looking to get back on track with this earnings announcement after a profit drop last quarter snapped a positive string of results. Net income rose 36.4% in the first quarter of the last fiscal year, 42.9% in the second quarter of the last fiscal year and more than twofold in the third quarter of the last fiscal year before declining in the fourth quarter of the last fiscal year.

Stock Price Performance: Between February 24, 2012 and April 23, 2012, the stock price had fallen $6.64 (-6.1%), from $109.08 to $102.44. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011, when shares rose for seven straight days, increasing 7.4% (+$7.05) over that span. It saw one of its worst periods between April 2, 2012 and April 11, 2012 when shares fell for seven straight days, dropping 6.8% (-$7.35) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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