Chevron's Q2 Earnings: Refining Woes Weigh On Profit, Relocates HQ To Texas
Portfolio Pulse from Lekha Gupta
Chevron reported Q2 2024 earnings with revenues beating expectations but adjusted EPS missing consensus. The company faced reduced margins on refined product sales and adverse foreign currency impacts. Chevron is relocating its headquarters to Houston, Texas.
August 02, 2024 | 11:59 am
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Chevron's Q2 2024 earnings report showed revenues beating expectations but adjusted EPS missing consensus. The company faced reduced margins on refined product sales and adverse foreign currency impacts. Chevron is also relocating its headquarters to Houston, Texas.
Despite beating revenue expectations, Chevron's adjusted EPS missed consensus due to reduced margins on refined product sales and adverse foreign currency impacts. The relocation of the headquarters to Houston may have long-term strategic benefits but does not offset the short-term negative impact on earnings.
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