Chevron Reports Q4 Earnings, Misses Estimates
Chevron Corp. (CVX) reported fourth-quarter 2023 net income of $3.24 billion, translating to earnings per share of $1.84. Excluding non-recurring costs, adjusted earnings were $2.06 per share.
These results fell short of Wall Street expectations, with analysts surveyed by Zacks Investment Research forecasting earnings of $2.19 per share. However, Chevron does not adjust its reported results for one-time events.
Revenue for the quarter reached $52.23 billion, exceeding analysts' estimates of $46.96 billion. For the full year, the company reported a net income of $17.66 billion ($9.72 per share) on revenue of $202.79 billion.