Chevron First-Quarter Adjusted Profit Tops Street Views
30 Abril 2021 - 06:04AM
Noticias Dow Jones
By Colin Kellaher
Chevron Corp. on Friday said it returned to profitability in the
first quarter, helped by higher oil prices as the economy recovers
from the Covid-19 pandemic.
The San Ramon, Calif., oil giant reported net income of $1.38
billion, or 72 cents a share, for the quarter, down from $3.6
billion, or $1.93 a share, a year earlier, amid the lingering
effects of the pandemic the severe winter storm that hit Texas and
other states in February.
Excluding items, Chevron posted earnings of 90 cents a share for
the quarter. Analysts polled by FactSet, on average, were expecting
an adjusted profit of 89 cents a share.
Chevron's profit ends a string of three straight quarterly
losses the second largest U.S. oil company had reported, which led
to a $5.5 billion loss for all of 2020.
Chevron's revenue edged up 1.7% in the first quarter to $32.03
billion, shy of the $32.54 billion Wall Street was looking for,
while worldwide production fell 4%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 30, 2021 06:49 ET (10:49 GMT)
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