Chevron Q1 2024 Adj EPS $2.93 Beats $2.87 Estimate, Sales $48.716B Miss $50.661B Estimate
Portfolio Pulse from Benzinga Newsdesk
Chevron (NYSE:CVX) reported Q1 2024 adjusted EPS of $2.93, surpassing the $2.87 estimate, but its sales of $48.716B fell short of the expected $50.661B. This represents a 17.46% decrease in earnings and a 4.09% decrease in sales from the same period last year.
April 26, 2024 | 10:16 am
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Chevron's Q1 2024 earnings beat estimates with an EPS of $2.93, but sales missed expectations, indicating mixed financial performance.
Chevron's earnings beat may positively influence investor sentiment due to the better-than-expected profit figures. However, the miss on sales forecasts could temper optimism, suggesting potential challenges in revenue growth or market conditions. The mixed results lead to a neutral short-term impact expectation, as the positive earnings surprise could be offset by concerns over missed sales targets.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100