Chevron: Q3 adjusted earnings down 47%
(CercleFinance.com) - Chevron has reported adjusted earnings that are down 47% at $5.
72bn in Q3, or $3.05 per share, a far cry from the $10.78bn and $5.56 per share announced a year ago.
The company mentions lower upstream sales and reduced margins on refined product sales.
The oil & gas company says that in Q3 sales and other operating income amounted to $51.9bn, down from $63.5bn in the same period last year, mainly due to lower raw material prices.
Quarterly distributions to shareholders amounted to $6.2bn, including $2.9bn in dividends and $3.4bn in share buybacks.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
72bn in Q3, or $3.05 per share, a far cry from the $10.78bn and $5.56 per share announced a year ago.
The company mentions lower upstream sales and reduced margins on refined product sales.
The oil & gas company says that in Q3 sales and other operating income amounted to $51.9bn, down from $63.5bn in the same period last year, mainly due to lower raw material prices.
Quarterly distributions to shareholders amounted to $6.2bn, including $2.9bn in dividends and $3.4bn in share buybacks.
Copyright (c) 2023 CercleFinance.com. All rights reserved.