SAN RAMON (dpa-AFX) - Chevron Corp. (CVX) released a profit for first quarter that Drops, from last year
The company's earnings came in at $2.210 billion, or $1.11 per share. This compares with $3.500 billion, or $2 per share, last year.
Excluding items, Chevron Corp. reported adjusted earnings of $2.793 billion or $1.41 per share for the period.
The company's revenue for the period rose 3.2% to $47.556 billion from $46.101 billion last year.
Chevron Corp. earnings at a glance (GAAP) :
-Earnings: $2.210 Bln. vs. $3.500 Bln. last year. -EPS: $1.11 vs. $2 last year. -Revenue: $47.556 Bln vs. $46.101 Bln last year.
Commenting on the first quarter results, the company said: 'Reported earnings decreased compared to first quarter 2025 primarily due to unfavorable timing effects of approximately $2.9 billion. These effects include timing mismatches in earnings recognition related to the mark-to-market of financial derivatives prior to the physical delivery of the associated hydrocarbons, as well as the impact of LIFO inventory accounting.'
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