The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Chevron whiffed on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share expanded significantly.
Margins expanded across the board.
Chevron booked revenue of $60.55 billion. The two analysts polled by S&P Capital IQ expected sales of $80.03 billion on the same basis. GAAP reported sales were 7.5% higher than the prior-year quarter's $56.31 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $3.27. The 19 earnings estimates compiled by S&P Capital IQ predicted $3.05 per share. GAAP EPS of $3.70 for Q4 were 44% higher than the prior-year quarter's $2.57 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 31.6%, 370 basis points better than the prior-year quarter. Operating margin was 19.8%, 560 basis points better than the prior-year quarter. Net margin was 12.0%, 290 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $76.37 billion. On the bottom line, the average EPS estimate is $3.10.
Next year's average estimate for revenue is $260.22 billion. The average EPS estimate is $12.51.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 4,073 members out of 4,234 rating the stock outperform, and 161 members rating it underperform. Among 1,045 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,022 give Chevron a green thumbs-up, and 23 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 $125.29.
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