Rigzone: Chevron profit falls short of forecasts.
Chevron linked the earnings miss to the shrinking value of legacy assets including a stake in an Australian gas development known as the Northwest Shelf, which the company has been trying to sell since 2020. Higher royalty and tax payments tied to rising commodity prices also played a role, as well as the timing of some gas trades.
CVX CEO Michael Wirth on CNBC this morning. Great interview. My takeaway:
- long-term investors are happy;
- numbers will continue to get better;
- recent investors will be disappointed
Re-posting:
CVX misses. Now we know why the company pre-announced a dividend increase yesterday.
CVX: anticipating 4Q21 earnings. IBD yesterday: estimate: $3.14 EPS.
4Q21 EPS: $2.63 vs $3.15 estimateFull year: $8.14 vs $8.15 estimate.
Fourth quarter earnings of $5.1 billion; annual earnings of $15.6 billion
Strong cash flow from operations of $29.2 billion in 2021
Record free cash flow of $21.1 billion in 2021
Dividends and share repurchases of $11.6 billion in 2021
Renewable energy: re-posting --
- link here;
- not going so well for Saudi Aramco;
Now, today: Shell's renewable boss steps down after less than two years. Link here. Or go direct to Reuters.
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