CORRECTION: Chevron Q2 Adj. EPS $3.08 Beats $2.97 Estimate, Sales $48.90B Beat $48.00B Estimate
Portfolio Pulse from Benzinga Newsdesk
Chevron (NYSE:CVX) reported Q2 earnings of $3.08 per share, beating the analyst consensus estimate of $2.97 by 3.7%. However, this is a 47.08% decrease from the same period last year. The company also reported quarterly sales of $48.90 billion, beating the estimate of $48.00 billion by 1.87%, but this is a 28.89% decrease from last year.
July 28, 2023 | 10:21 am
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NEUTRAL IMPACT
Chevron's Q2 earnings and sales beat estimates but are significantly lower than last year.
While Chevron beat estimates for Q2, the significant decrease in earnings and sales compared to the same period last year could potentially offset any positive impact from beating estimates. This could lead to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100