Chevron (CVX) Raises Top End of Annual Share Repurchase Guidance to $15B
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Chevron says 'can do it all', after record profit and buyback lift
July 29, 2022 6:18 AM EDTBy Sabrina Valle
HOUSTON (Reuters) - Chevron Corp posted its biggest quarterly earnings ever on Friday, built on strong fuel margins and high prices for natural gas and oil, and boosted its share buyback target.
The oil major posted second-quarter net profit of $11.6 billion, or $5.95 per diluted share, more than triple the $3.1 billion, or $1.60 per share, in the same period last year.
Chevron's ramped-up share buyback plan follows those of other oil majors, including European giants TotalEnergies and Shell, which this week increased buybacks to satisfy investors looking for bigger returns.
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Chevron (CVX) Tops Q2 EPS by 73c, Beats on Revenues
July 29, 2022 6:16 AM EDTChevron (NYSE: CVX) reported Q2 EPS of $5.82, $0.73 better than the analyst estimate of $5.09. Revenue for the quarter came in at $68.76 billion versus the consensus estimate of $57.96 billion.
For earnings history and earnings-related data on Chevron (CVX) click here.
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