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Benzinga
  • 2 years ago
Chevron's fourth-quarter profit fell 65% year-over-year to $2.3 billion, or $1.22 per share, due to $1.8 billion in impairment charges and $1.9 billion for Gulf of Mexico decommissioning obligations. Adjusted EPS of $3.45 beat estimates, as the company returned a record $23.6 billion to shareholders in 2023 through $11.3 billion in dividends and $14.9 billion in share buybacks. Revenue of $47.18 billion missed estimates as refining profits fell 35% year-over-year to $1.15 billion on lower U.S. margins.
Transcript
00:00 It's Benzinga and here's what's on the block. Chevron's fourth quarter profit fell 65% year
00:05 over year to $2.3 billion or $1.2 per share due to $1.8 billion in impairment charges and $1.9
00:11 billion for Gulf of Mexico decommissioning obligations. Adjusted DPS at 345 beat estimates
00:16 as the company returned to a record $23.6 billion to shareholders in 2023 through $11.3 billion in
00:21 dividends and $14.9 billion in share buybacks. Revenue of $47.2 billion missed estimates as
00:27 refining profits fell 35% year over year to $1.2 billion on lower US margins. For all things money
00:32 visit Benzinga.com
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