5.5 C
London
Tuesday, December 3, 2024
HomeNewsChevron's Q2 Profit Slips Over 25% Amid Maintenance Costs

Chevron’s Q2 Profit Slips Over 25% Amid Maintenance Costs

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...

Houston, August 2 (FFN) – Chevron, the American oil giant, reported a more than 25% decline in second-quarter profit, falling short of market expectations. Reuters reported the news.

The company posted a net income of $4.43 billion (4.11 billion euros) in the second quarter, compared to $6.01 billion in the same period last year.

Adjusting for special items, profit came in at $4.68 billion, or $2.55 per share. This fell short of analysts’ expectations of $2.93 per share.

Revenue reached $51.18 billion, representing a 4.7% year-on-year increase.

The company had previously warned in early June that maintenance on some of its oil and gas facilities would impact its second-quarter results. Earnings from oil and gas production declined by 9.4%, while profits from gasoline and chemicals production fell by approximately 60%. (1 EUR = 1.0789 USD)

Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories