Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Chevron Expects Q1 Earnings To Rise Sequentially

RELATED NEWS
Trade CVX now with 

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.

Click here to receive FREE breaking news email alerts for Chevron Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After initially showing a lack of direction, stocks have moved sharply lower over the course of the trading day on Thursday. The losses on the day are extending a recent downward trend by the markets, with the major averages falling to their lowest levels in over a month. After reporting a sharp jump in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Thursday showing that factory orders pulled back by a little more than expected in the month of August. First-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended September 27th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 287,000, a decrease of 8,000 from the previous week's revised level of 295,000.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.