Chevron Reports Second Quarter Net Income of $4.3 Billion
- Upstream volumes up 9 percent from prior year; includes Permian unconventional production of 421,000 barrels per day
- Second quarter cash flow from operations of $8.8 billion
- Share repurchases of $1.0 billion in second quarter
San Ramon, Calif., Aug. 2, 2019 – Chevron Corporation (NYSE: CVX) today reported earnings of $4.3 billion ($2.27 per share - diluted) for second quarter 2019, compared with $3.4 billion ($1.78 per share - diluted) in the second quarter of 2018. Included in the current quarter were earnings of $740 million associated with the Anadarko merger termination fee and a non-cash tax benefit of $180 million related to a reduction in the Alberta, Canada corporate income tax rate. Foreign currency effects increased earnings in the 2019 second quarter by $15 million.
Sales and other operating revenues in second quarter 2019 were $36 billion, compared to $40 billion in the year-ago period.
Published: August 2019