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Compared to Estimates, Chevron (CVX) Q4 Earnings: A Look at Key Metrics
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Chevron (CVX - Free Report) reported $47.18 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 16.5%. EPS of $3.45 for the same period compares to $4.09 a year ago.
The reported revenue represents a surprise of -10.29% over the Zacks Consensus Estimate of $52.59 billion. With the consensus EPS estimate being $3.29, the EPS surprise was +4.86%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Chevron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Worldwide - Net liquids production per day: 2015 millions of barrels of oil compared to the 1901.5 millions of barrels of oil average estimate based on five analysts.
U.S. Upstream - Net oil-equivalent production per day: 1598 millions of barrels of oil equivalent versus 1462.34 millions of barrels of oil equivalent estimated by five analysts on average.
International Upstream - Net oil-equivalent production per day: 1794 millions of barrels of oil equivalent versus 1769.09 millions of barrels of oil equivalent estimated by five analysts on average.
U.S. Upstream - Net natural gas production per day: 2,604 Mcf/D versus 2,238.27 Mcf/D estimated by four analysts on average.
International Upstream - Net crude oil and natural gas liquids production per day: 851 millions of barrels of oil versus 844.59 millions of barrels of oil estimated by four analysts on average.
International Upstream - Net natural gas production per day: 5,661 Mcf/D versus 5,560.66 Mcf/D estimated by four analysts on average.
Worldwide - Net natural gas production per day: 8,265 Mcf/D compared to the 7,861.9 Mcf/D average estimate based on three analysts.
Worldwide - Refinery Crude Oil Inputs: 1552 millions of barrels of oil per day versus the two-analyst average estimate of 1600.83 millions of barrels of oil per day.
U.S. Downstream - Refined Product Sales: 1298 millions of barrels of oil per day versus the two-analyst average estimate of 1243.92 millions of barrels of oil per day.
Worldwide - Refined Product Sales: 2735 millions of barrels of oil per day versus the two-analyst average estimate of 2645.21 millions of barrels of oil per day.
Revenues- Sales and other operating revenues: $48.93 billion versus the five-analyst average estimate of $49.55 billion. The reported number represents a year-over-year change of -10.3%.
Revenues- Income (loss) from equity affiliates: $990 million compared to the $1.47 billion average estimate based on four analysts. The reported number represents a change of -39% year over year.
Shares of Chevron have returned -1.8% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Chevron (CVX) Q4 Earnings: A Look at Key Metrics
Chevron (CVX - Free Report) reported $47.18 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 16.5%. EPS of $3.45 for the same period compares to $4.09 a year ago.
The reported revenue represents a surprise of -10.29% over the Zacks Consensus Estimate of $52.59 billion. With the consensus EPS estimate being $3.29, the EPS surprise was +4.86%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Chevron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Worldwide - Net liquids production per day: 2015 millions of barrels of oil compared to the 1901.5 millions of barrels of oil average estimate based on five analysts.
- U.S. Upstream - Net oil-equivalent production per day: 1598 millions of barrels of oil equivalent versus 1462.34 millions of barrels of oil equivalent estimated by five analysts on average.
- International Upstream - Net oil-equivalent production per day: 1794 millions of barrels of oil equivalent versus 1769.09 millions of barrels of oil equivalent estimated by five analysts on average.
- U.S. Upstream - Net natural gas production per day: 2,604 Mcf/D versus 2,238.27 Mcf/D estimated by four analysts on average.
- International Upstream - Net crude oil and natural gas liquids production per day: 851 millions of barrels of oil versus 844.59 millions of barrels of oil estimated by four analysts on average.
- International Upstream - Net natural gas production per day: 5,661 Mcf/D versus 5,560.66 Mcf/D estimated by four analysts on average.
- Worldwide - Net natural gas production per day: 8,265 Mcf/D compared to the 7,861.9 Mcf/D average estimate based on three analysts.
- Worldwide - Refinery Crude Oil Inputs: 1552 millions of barrels of oil per day versus the two-analyst average estimate of 1600.83 millions of barrels of oil per day.
- U.S. Downstream - Refined Product Sales: 1298 millions of barrels of oil per day versus the two-analyst average estimate of 1243.92 millions of barrels of oil per day.
- Worldwide - Refined Product Sales: 2735 millions of barrels of oil per day versus the two-analyst average estimate of 2645.21 millions of barrels of oil per day.
- Revenues- Sales and other operating revenues: $48.93 billion versus the five-analyst average estimate of $49.55 billion. The reported number represents a year-over-year change of -10.3%.
- Revenues- Income (loss) from equity affiliates: $990 million compared to the $1.47 billion average estimate based on four analysts. The reported number represents a change of -39% year over year.
View all Key Company Metrics for Chevron here>>>Shares of Chevron have returned -1.8% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.