Chevron Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Chevron (NYSE:CVX) will unveil its latest earnings tomorrow, Friday, February 1, 2013.  Chevron provides management and technology support to international subsidiaries that operate petroleum, chemicals, mining, power generation, and energy services.

Chevron Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of $3.03 per share, a rise of 17.4% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $3.15. Between one and three months ago, the average estimate moved down. It has risen from $3 during the last month. Analysts are projecting profit to rise by 9.3% compared to last year’s $12.19.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the third quarter, it reported profit of $2.69 per share against a mean estimate of $2.85. Two quarters ago, it beat expectations by 43 cents with net income of $3.66.

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A Look Back: In the third quarter, profit fell 32.9% to $5.25 billion ($2.69 a share) from $7.83 billion ($3.92 a share) the year earlier, missing analyst expectations. Revenue fell 9.9% to $58.04 billion from $64.43 billion.

Here’s how Chevron traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:

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Wall St. Revenue Expectations: Analysts are projecting a rise of 14.4% in revenue from the year-earlier quarter to $68.64 billion.

Stock Price Performance: Between November 28, 2012 and January 28, 2013, the stock price had risen $10.46 (9.9%), from $105.58 to $116.04. The stock price saw one of its best stretches over the last year between January 8, 2013 and January 22, 2013, when shares rose for 10 straight days, increasing 6.1% (+$6.65) over that span. It saw one of its worst periods between May 1, 2012 and May 9, 2012 when shares fell for seven straight days, dropping 6% (-$6.49) over that span.

Key Stats:

The company is trying to use this earnings announcement to rebound from income declines in the past two quarters. Net income dropped 6.8% in the second quarter and then again in the third quarter.

On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 9.2% in the second quarter and dropped again in the third quarter.

Analyst Ratings: With 13 analysts rating the stock a buy, none rating it a sell and two rating the stock a hold, there are indications of a bullish stance by analysts.

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