1/31, 2:31 PM (Source: TeleTrader)
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Chart for: Chevron Corp

Chevron posts loss per share of $3.51 in Q4

Chevron Corp. said on Friday that it had a loss per share of $3.51 in the fourth quarter of 2019, after posting earnings per share of $1.97 in the same quarter a year earlier. Net loss slid to $6.6 billion which compares to a net income of $3.7 billion in the last quarter of 2018. Revenues dropped 14.3% to $34.6 billion in the fourth quarter year-on-year.

In the full-year 2019 diluted EPS was $1.54 as it slid 80% from 2018's results. Net incomes declined from $14.8 billion in the previous year to $2.9 billion in 2019. Revenues fell 11.9% year-on-year to $146.5 billion in 2019.

Chevron CEO Michael Wirth said: "Organic capital spending held flat at $20 billion in 2019, further demonstrating our commitment to capital discipline." He added: "For the first time in the company’s history, annual production exceeded 3 million barrels per day of oil equivalent."

After the results missed estimates, Chevron shares declined 1.17% in premarket trade on Wall Street.

Breaking the News / VP