Summary by Futu AI
On February 2, 2024, Chevron Corporation reported its unaudited earnings for the fourth quarter of 2023, revealing a profit of $2.3 billion. This figure marks a decrease from the $6.4 billion earned in the same quarter of the previous year. The earnings included significant charges such as $1.8 billion in U.S. upstream impairment charges and $1.9 billion related to decommissioning obligations from assets previously sold in the U.S. Gulf of Mexico. Adjusted earnings, which exclude these charges, were $6.5 billion for the quarter. Chevron also highlighted a record cash return to shareholders of $26.3 billion for the year and a record annual worldwide and U.S. production. Additionally, the company announced an 8 percent increase in its quarterly dividend to $1.63 per share. The company completed several acquisitions in...Show More