Chevron reported second-quarter revenue of $70.06 billion, a 56.3% increase from the same period last year and 21.78% above the Zacks Consensus Estimate of $57.53 billion. Earnings per share came in at $6.06, compared to $1.77 a year ago and surpassing the consensus estimate of $5.80 by 4.48%. Total net oil-equivalent production reached 4,070 million barrels of oil equivalent per day, exceeding the average analyst estimate of 4,047.93 million barrels. U.S. upstream net oil-equivalent production was 2,077 million barrels per day, above the 2,046.62 million estimate, while international upstream net oil-equivalent production was 1,993 million barrels per day, slightly below the 2,001.05 million estimate. Sales and other operating revenues totaled $67.2 billion, beating the $59.3 billion estimate, and income from equity affiliates surged 296.5% year over year to $2.13 billion.
Chevron CorpQ2 revenue and EPS beat estimates significantly, with revenue up 56.3% and EPS at $6.06 vs $5.80 consensus.
