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2/1/2019, 2:36 PM (Source: TeleTrader)
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Chevron earns $1.95 per share in Q4, 18% more YoY

Chevron Corp. said on Friday that its diluted earnings per share (EPS) in the fourth quarter of 2018 stood at $1.95, adding 18% annually and beating estimates. In the same period, total revenue missed expectations at $42.35 billion, jumping 12.5% from $37.62 billion posted in the three months through December 2017. The company posted a 19.9% rise in net income for the quarter, arriving at $3.73 billion.

For all of 2018, revenue totaled $166.34 billion, improving by 17.37% from 2017. Annual net income surged 61% last year, reaching $14.82 billion, the report noted. Full-year earnings per share amounted to $7.74.

"We reached significant milestones with upstream major capital projects in 2018, including the start-up of Wheatstone Train Two, our fifth operated LNG train in Australia," CEO Michael Wirth noted. "Our net oil-equivalent production grew more than 7 percent in 2018 to a record 2.93 million barrels per day. We expect that 2019 production will continue to grow by 4 to 7 percent, excluding the impact of asset sales," he added. "During the second half of the year we repurchased $1.75 billion of the company’s stock, and earlier this week we announced a quarterly dividend increase of $0.07 per share."

Chevron's shares were up by over 2% in premarket trading as the results came out.

Breaking the News / NI