logo
Share SHARE
FONT-SIZE Plus   Neg

Chevron Expects Q1 Earnings To Rise Sequentially

Chevron Corp. (CVX: Quote), the second largest U.S. oil company, said Tuesday that it expects first quarter 2012 earnings to be higher than fourth quarter 2011. Analysts polled by Thomson Reuters expect the company to earn $3.14 per share for the first quarter. Analysts' estimates typically exclude special items. For the fourth quarter, Chevron earned $5.12 billion or $2.58 per share.

Upstream results are projected to improve between sequential quarters, benefiting from higher crude oil prices and lower operating expenses, partly offset by lower liftings, the San Ramon, California-based company said in its interim update on Tuesday.

The company also said it expects downstream earnings in the first quarter to be higher, reflecting improved refining and chemicals margins, lower operating expenses, and gains on asset sales. Foreign exchange losses in the first quarter are expected to be higher than fourth quarter losses, most notably in the upstream segment, Chevron said. Chevron will report first quarter financial results on April 27.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock (BLK) said its iShares division has launched the iShares Short Maturity Municipal Bond ETF (MEAR). The move by iShares, the world's largest manager of exchange traded funds, is part of efforts to boost its lineup of fixed income ETFs. iShares Short Maturity Municipal Bond ETF is actively... The drought crisis in California will not abate any time soon despite the onset of a somewhat weak El Nino, endangering crops and putting farmers and others to hardship. German auto giant BMW has refuted reports it is in discussion with tech giant Apple Inc. (AAPL) related to the making of an electric car. BMW has clarified that its discussion with Apple was not related to building an electric car but were "regular talks," according to a report from Reuters. On...
comments powered by Disqus
RELATED NEWS
Trade CVX now with 
Follow RTT