S&P 500 (NYSE:SPY) component Chevron Corp (NYSE:CVX) will unveil its latest earnings on Friday, July 29, 2011. Chevron Corporation 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 net income of $3.53 per share, a rise of 30.7% 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 $3.28. Between one and three months ago, the average estimate moved up, and has risen from $3.47 during the last month. For the year, analysts are projecting profit of $13.20 per share, a rise of 39.7% from last year.
Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported net income of $3.09 per share against a mean estimate of profit of $2.99, and the quarter before, the company exceeded forecasts by 14 cents with net income of $2.52 versus a mean estimate of profit of $2.38.
Wall St. Revenue Expectations: On average, analysts predict $71.58 billion in revenue this quarter, a rise of 40.2% from the year ago quarter. Analysts are forecasting total revenue of $237.42 billion for the year, a rise of 19.8% from last year’s revenue of $198.2 billion.
Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy, none rating it as a sell and four rating it as a hold.
The company has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of 79.3%. The quarter with the biggest boost was the second quarter of the last fiscal year, which saw a more than threefold surge.
Revenue rose in the first quarter after seeing a drop the quarter before. Revenue rose 29.1% to $60.34 billion in the first quarter from the year earlier. In the fourth quarter of the last fiscal year, revenue fell 0.6%.
Competitors to Watch: Exxon Mobil Corporation (NYSE:XOM), BP plc (NYSE:BP), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), TOTAL S.A. (NYSE:TOT), Hess Corp. (NYSE:HES), Suncor Energy Inc. (NYSE:SU) and Valero Energy Corporation (NYSE:VLO).
Stock Price Performance: During June 24, 2011 to July 25, 2011, the stock price had risen $10.20 (10.4%) from $97.90 to $108.10. The stock price saw one of its best stretches over the last year between July 26, 2010 and August 5, 2010 when shares rose for nine-straight days, rising 6% (+$4.30) over that span. It saw one of its worst periods between May 31, 2011 and June 7, 2011 when shares fell for six-straight days, falling 5.2% (-$5.44) over that span. Shares are up $18.23 (+20.3%) year to date.
(Source: Xignite Financials)