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Chevron (CVX) Q1 Earnings Beat, Downstream Woes Continue
Chevron Corporation (CVX - Free Report) reported better-than-expected first-quarter earnings, boosted by production gains. The U.S. energy major, which is involved in a tussle with Occidental Petroleum Corp. (OXY - Free Report) to acquire Texas-based upstream company Anadarko Petroleum Corp. (APC - Free Report) , reported earnings per share of $1.39, ahead of the Zacks Consensus Estimate of $1.26.
However, the company’s bottom line fell from the year-ago profit of $1.90 on lower crude price realizations and drop in profits in its downstream business, which refines crude oil into fuels like gasoline and diesel oil.
Quarterly revenue of $35.2 billion missed the Zacks Consensus Estimate of $37.9 billion and was down 6.8% year over year.
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https://www.zacks.com/stock/news/404521/...txt-404521
![[Bild: CVXc1dl1804.png]](https://finviz.com/publish/042619/CVXc1dl1804.png)
Chevron Corporation (CVX - Free Report) reported better-than-expected first-quarter earnings, boosted by production gains. The U.S. energy major, which is involved in a tussle with Occidental Petroleum Corp. (OXY - Free Report) to acquire Texas-based upstream company Anadarko Petroleum Corp. (APC - Free Report) , reported earnings per share of $1.39, ahead of the Zacks Consensus Estimate of $1.26.
However, the company’s bottom line fell from the year-ago profit of $1.90 on lower crude price realizations and drop in profits in its downstream business, which refines crude oil into fuels like gasoline and diesel oil.
Quarterly revenue of $35.2 billion missed the Zacks Consensus Estimate of $37.9 billion and was down 6.8% year over year.
...
https://www.zacks.com/stock/news/404521/...txt-404521
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