Chevron Reports Third Quarter Net Income of $4.0 Billion
- Record quarterly oil-equivalent production of 2.96 million barrels per day, 9 percent higher than a year earlier
- Third quarter cash flow from operations of $9.6 billion
- Share repurchases of $750 million
San Ramon, Calif., Nov. 2, 2018 – Chevron Corporation (NYSE: CVX) today reported earnings of $4.0 billion ($2.11 per share – diluted) for third quarter 2018, compared with $2.0 billion ($1.03 per share – diluted) in the third quarter of 2017. Included in the current quarter were a write-off, an asset impairment, and a non-recurring contractual settlement totaling $930 million in the upstream segment, and a gain of $350 million on the sale of southern Africa refining, marketing and lubricant assets. Foreign currency effects decreased earnings in the 2018 third quarter by $51 million, compared with a decrease of $112 million a year earlier.
Sales and other operating revenues in third quarter 2018 were $42 billion, compared to $34 billion in the year-ago period.
Published: November 2018