CVX Earnings Prediction
The chart below shows how CVX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CVX sees a -0.54% change in stock price 10 days leading up to the earnings, and a +0.21% change 10 days following the report. On the earnings day itself, the stock moves by -0.67%. This data can give you a slight idea of what to expect for the next quarter's release.
CVX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
48.93B
-5.77%
-1.31%
Gross Margin
29.15%
-2.80%
-1.72%
Operating Margin
11.12%
-24.35%
-7.95%
Net Margin
9.19%
-27.18%
2.57%
EPS
2.48
-28.74%
2.48%
No Data Available
CVX Earnings Analysis
Chevron Corporation Corporation (CVX.N) Earnings Conference Call
Positive
Strong Financial Performance: 1. Record Earnings: Chevron reported third quarter earnings of $4.5 billion, translating to $2.48 per share, showcasing strong financial performance despite lower oil prices.
Production Surge: 2. Increased Production: Worldwide production increased by 7% year-over-year, setting a third quarter record, with a notable rise of approximately 70,000 barrels per day from the previous quarter.
Record Share Repurchases: 3. Significant Share Repurchases: The company executed record share repurchases of $4.7 billion, at the top end of its quarterly guidance range, reflecting a strong commitment to returning cash to shareholders.
Asset Sales Strategy: 4. Successful Asset Sales: Chevron announced asset sales in Canada, Alaska, and Congo, expected to generate approximately $8 billion in before-tax proceeds, enhancing its portfolio optimization efforts.
Cost Reduction Strategies: 5. Cost Management Initiatives: The company anticipates delivering $2 billion to $3 billion in structural cost reductions by the end of 2026, driven by portfolio optimization and technology enhancements.
Negative
Earnings Decline Analysis: 1. Declining Adjusted Earnings: Adjusted third quarter earnings decreased by $1.2 billion compared to the same quarter last year, reflecting lower liquids realizations and higher depreciation, depletion, and amortization (DD&A) costs.
Production Downtime Impact: 2. Increased Production Downtime: Anticipated production impacts from divestments are expected to be around 45,000 barrels of oil equivalent per day for the fourth quarter, alongside planned maintenance that will affect downstream operations.
Increased Upstream Operational Costs: 3. Higher Costs in Upstream Operations: Adjusted upstream earnings were down primarily due to lower liquids realizations and high DD&A, indicating increased operational costs despite higher production levels.
Decreased Downstream Profitability: 4. Lower Refining Margins: Adjusted downstream earnings decreased mainly due to lower U.S. refining margins, which negatively impacted overall profitability in the downstream segment.
Acquisition Uncertainty Impact: 5. Uncertainty from Hess Acquisition: The ongoing uncertainty surrounding the Hess acquisition has contributed to investor hesitance, impacting stock performance and creating a weight of uncertainty on the company's valuation.
CVX FAQs
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CVX Earning Call Sentiment
Chevron Corporation (CVX) Q3 2024 Earnings Call Transcript
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CVX.N
1.02%Positive
Basic Financial Performance is rated 3 due to lower earnings YoY but strong cash flow and production growth. Product Development and Business Update is rated 4 with strong Permian performance and clear expansion plans. Market Strategy is rated 3 due to ongoing divestments and a strategic relocation. Expenses and Financial Health is rated 4 due to cost-saving initiatives and a strong balance sheet. Shareholder Return Plan is rated 5 with record share repurchases. Q&A insights improved confidence in Permian performance but highlighted some uncertainties in TCO derisking. Overall, positive sentiment with potential stock price increase.