Chevron Earnings Cheat Sheet: Impressive First Quarter Profitable Performance

S&P 500 (NYSE:SPY) component Chevron Corporation (NYSE:CVX) reported higher profit for the first quarter as revenue showed growth. Chevron Corporation provides management and technology support to international subsidiaries that operate petroleum (NYSE:USO), chemicals, mining, power generation and energy services.

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Chevron Earnings Cheat Sheet for the First Quarter

Results: Net income for Chevron Corporation rose to $6.21 billion ($3.09/share) vs. $4.55 billion ($2.27/share) in the same quarter a year earlier. A rise of 36.4% from the year earlier quarter.

Revenue: Rose 25% to $58.41 billion YoY.

Actual vs. Wall St. Expectations: CVX beat the mean analyst estimate of $3.04/share. Estimates ranged from $2.78 per share to $3.36 per share.

Quoting Management: “Our first quarter financial performance was strong,” said Chairman and CEO John Watson. “Current quarter earnings from upstream operations benefited from higher prices for crude oil, while downstream operations benefited from improved margins on refined petroleum products. We continue to operate safely, advance our major capital projects and restructure our downstream portfolio.”

Key Stats: Net income has increased 93% year over year on average across the last five quarters. The biggest gain came in the second quarter of the last fiscal year, when income climbed more than threefold from the year earlier quarter.

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).

Today’s Performance: Shares of CVX are trading at $108.76


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