Chevron: modest Q3 adjusted net income

(CercleFinance.com) - Chevron has reported Q3 adjusted net income that has dived 93% y-o-y to 201 million dollars, meaning EPS of 11 cents, although analysts feared that it would make a loss.


The company said that its results fell mainly due to lower raw material prices and reduced margins, resulting from the impact of Covid-19, underlining that the global economy continues to operate below pre-pandemic levels.

However, the group highlights the completion of its acquisition of Noble Energy last month, which reinforces its portfolio with high quality assets and is expected to increase the group's long-term value.


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