Yahoo Finance Chevron First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
Chevron (NYSE:CVX) First Quarter 2024 Results
Key Financial Results
Revenue: US$48.7b (down 1.0% from 1Q 2023).
Net income: US$5.50b (down 16% from 1Q 2023).
Profit margin: 11% (down from 13% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
EPS: US$2.99 (down from US$3.48 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Chevron EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 4.0%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are up 3.7% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Chevron that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
