Chevron Corp. (CVX) released a profit for first quarter that Drops, from last year
The company's earnings came in at $2.210 billion, or $1.11 per share. This compares with $3.500 billion, or $2 per share, last year.
Excluding items, Chevron Corp. reported adjusted earnings of $2.793 billion or $1.41 per share for the period.
The company's revenue for the period rose 3.2% to $47.556 billion from $46.101 billion last year.
Chevron Corp. earnings at a glance (GAAP) :
-Earnings: $2.210 Bln. vs. $3.500 Bln. last year.-EPS: $1.11 vs. $2 last year.-Revenue: $47.556 Bln vs. $46.101 Bln last year.
Commenting on the first quarter results, the company said: “Reported earnings decreased compared to first quarter 2025 primarily due to unfavorable timing effects of approximately $2.9 billion. These effects include timing mismatches in earnings recognition related to the mark-to-market of financial derivatives prior to the physical delivery of the associated hydrocarbons, as well as the impact of LIFO inventory accounting.”
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.