Chevron's Profit Slumps as Margins, Lower Oil Prices Weigh on Earnings
26 Abril 2019 - 8:18AM
Noticias Dow Jones
By Allison Prang
Chevron Corp.'s (CVX) profit decreased in the first quarter as
the price of oil and certain margins hurt results but overall
net-oil equivalent production per day increased.
Chevron reported earnings of $2.65 billion, down 27% from the
comparable quarter a year prior. Earnings were $1.39 a share, down
from $1.90 a share. Analysts polled by Refinitiv were expecting
$1.43 a share.
The drop in profit was "largely due to lower crude oil prices
and weaker downstream and chemicals margins," Chief Executive
Michael Wirth said in prepared remarks.
Total revenue and other income fell 6.8% to $35.2 billion.
Analysts were expecting $38.43 billion in revenue.
Worldwide net oil-equivalent production was 3.04 million barrels
a day, up 6.5%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 26, 2019 09:03 ET (13:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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