Chevron beats earnings estimates but profit falls on lower refining margins and natural gas prices
Publishing timestamp: 2024-04-26 08:14:37
Summary
Chevron beat earnings expectations but profit fell due to lower sales margins in refining business and international gas business facing headwinds. Production in U.S. increased, but international production fell. Chevron confident in pending acquisition of Hess Corp. Capital expenditures rose, but return on capital lower than previous year. Analysts warn of potential spike in oil prices due to Iran-Israel conflict.
Sentiment: MIXED
Keywords: hess corp, chevron corp, breaking news: earnings, energy, business news, exxon mobil corp, markets, oil and gas, breaking news: markets, earnings,
Source: https://www.cnbc.com/2024/04/26/chevron-cvx-q1-earnings-report-2024.html