Exxon (XOM) and Chevron (CVX) Q1 Earnings Decline Amid War Impact
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowExxon Mobil (XOM) reported a net income of $4.2 billion, or $1.00 per share, a 45% decline year-over-year. Chevron (CVX) posted a profit of $2.2 billion, or $1.11 per share, down 36% from the previous year. Both companies beat Wall Street estimates for adjusted earnings, with Exxon at $1.16 per share and Chevron at $1.41 per share. Oil prices surged 57% during the quarter due to the Iran war, causing significant supply disruptions, yet market reactions saw Exxon shares up over 1% and Chevron's gaining about 2% in premarket trading.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Chevron Corporation (CVX)
Chevron is a major integrated oil and gas company operating across exploration, production, refining, and marketing.
The Energy sector covers oil, gas and energy-equipment companies sensitive to commodity prices.
Earlier CVX news
- Brent Crude Oil Surges Above $117 Amid Iran Blockade Reports
- Chevron (CVX) CEO Predicts Air Travel Costs Will Rise Amid Crisis
- Chevron (CVX) CEO Warns Jet Fuel Shortages Affecting Airlines
- Oil Futures Rise After Middle East Events Impact Prices
- S&P 500, Nasdaq, Dow fall amid US-Iran tensions affecting markets
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