The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Chevron whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew, and GAAP earnings per share increased significantly.
Gross margins expanded, operating margins increased, net margins contracted.
Chevron recorded revenue of $58.03 billion. The four analysts polled by S&P Capital IQ expected a top line of $77.41 billion. Sales were 39% higher than the prior-year quarter's $51.85 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $2.58. The 17 earnings estimates compiled by S&P Capital IQ averaged $2.94 per share on the same basis. GAAP EPS of $3.92 for Q4 were 2.3% lower than the prior-year quarter's $2.64 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 39.4%, 150 basis points better than the prior-year quarter. Operating margin was 16.6%, 140 basis points better than the prior-year quarter. Net margin was 8.5%, 370 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $71.95 billion. On the bottom line, the average EPS estimate is $3.07.
Next year's average estimate for revenue is $272.26 billion. The average EPS estimate is $12.97.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 3,887 members out of 4,044 rating the stock outperform, and 158 members rating it underperform. Among 1,037 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,011 give Chevron a green thumbs-up, and 26 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chevron is outperform, with an average price target of $121.39.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.