Chevron Beats Estimates as Hess Deal Helps Boost Oil Production
Update: 2025-10-31
Description
Chevron's Q3 earnings beat expectations, thanks to profits from the Hess acquisition, which boosted oil production and cash flow. Despite a twenty percent drop in net income, adjusted earnings per share and cash flow from operations increased. Chevron's global oil production surged by twenty-one percent, and they maintained dividends and buybacks despite volatile oil prices. The company plans to grow production from high-margin fields and cut spending in areas requiring significant upfront investment. Chevron's stock has risen despite a thirteen percent drop in global crude prices, indicating confidence in their ability to navigate the energy market.
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