Chevron Posts Mixed Q2 Performance On Lower Upstream Realization
Portfolio Pulse from Lekha Gupta
Chevron Corp reported Q2 FY23 total revenues of $48.896 billion, beating the consensus of $48.80 billion. However, sales and other operating revenues fell to $47.2 billion from $65.4 billion a year ago, mainly due to lower commodity prices. Adjusted net earnings were $5.78 billion, with Adjusted EPS being $3.08, missing the consensus of $3.28. The company declared a quarterly dividend of $1.51 per share. Chevron also held cash and equivalents of $9.6 billion as of June 30, 2023.
July 28, 2023 | 12:08 pm
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NEGATIVE IMPACT
Chevron's mixed Q2 results, with a beat on revenue but a miss on EPS, could lead to uncertainty in the market. The decrease in sales and operating revenues due to lower commodity prices might negatively impact the stock in the short term.
Chevron's Q2 results were mixed, with a beat on revenue but a miss on EPS. This could lead to uncertainty among investors, potentially impacting the stock price. Additionally, the decrease in sales and operating revenues due to lower commodity prices could further negatively impact the stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Chevron's recent acquisition of PDC Energy in an all-stock deal worth $7.6 billion could potentially impact PDC Energy's stock in the short term.
Chevron's recent acquisition of PDC Energy could potentially impact PDC Energy's stock in the short term. However, the exact impact would depend on various factors including the market's perception of the deal and its implications for PDC Energy's future prospects.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50