1st May
Chevron Corp. (NYSE: CVX) released its quarterly financial results on Friday and warned that its performance is expected to keep under pressure unless oil prices recover. The company also slashed its 2020 capital expenditures further on Friday. In the first quarter, Chevron generated £25.14 billion in revenue as compared to £28.09 billion in the same quarter last year. On the earnings front, the company made £1.54 per share in Q1 versus the year-ago figure of £1.11 per share. Chevron’s Q1 earnings also included non-recurring favourable items worth £527 million. According to Refinitiv, analysts had forecast the company to print £23.45
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Chevron posts £25.14 billion in revenue in Q1 versus £28.09 billion in the same quarter last year.
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The U.S oil major slashes its 2020 capital expenditures by an additional £1.60 billion.
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The oil company says it is taking all necessary measures to maintain its dividend.
