Chevron Reports Decline in Revenue and Profit for First Quarter of 2024
Chevron Corporation Q1 2024 Earnings Report
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues.
Financial Details
- Net income attributable to Chevron Corporation was $5.50 billion or $2.97 per share in the first quarter, compared to $6.57 billion or $3.46 per share last year.
Adjusted profit decreased 17% year-over-year to $2.93 per share.
- Total revenues and other income were $48.72 billion in the March quarter, down 4% from $50.79 billion reported in the year-ago quarter.
CEO Statement
"We had another quarter of strong operational and financial performance and delivered superior cash returns to shareholders," said Mike Wirth, Chevron’s chief executive officer.
Conclusion
Chevron Corporation reported a decline in both revenue and profit for Q1 2024, with the net income dropping to $5.50 billion. Despite the decrease, the company highlighted its strong operational and financial performance in the quarter.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.