Chevron Q2 2024 Adj. EPS $2.55 Misses $2.93 Estimate, Sales $51.181B Beat $50.795B Estimate
Portfolio Pulse from Benzinga Newsdesk
Chevron (NYSE:CVX) reported Q2 2024 earnings per share (EPS) of $2.55, missing the analyst estimate of $2.93 by 12.97%. However, sales were $51.181 billion, beating the estimate of $50.795 billion by 0.76%. EPS decreased by 17.21% year-over-year, while sales increased by 4.67%.
August 02, 2024 | 10:15 am
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NEGATIVE IMPACT
Chevron's Q2 2024 EPS of $2.55 missed estimates by 12.97%, while sales of $51.181 billion beat estimates by 0.76%. EPS decreased by 17.21% year-over-year, but sales increased by 4.67%.
The significant miss on EPS is likely to weigh on Chevron's stock price in the short term, despite the slight beat on sales. The year-over-year decrease in EPS further adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100