As per reports, Chevron Corporation (CVX) posted the highest quarterly profit in eight years, driven by surging oil and gas prices and a recovery in motor fuel demand. The U.S oil major posted a net income of $6.11 billion, compared with a loss of $207 million a year ago. Adjusted earnings per share of $2.96 exceeded Wall Street’s profit estimate of $2.21 per share. Cash flow from operations was $8.5 billion in the quarter, “the best ever reported by the company,” informed Chief Executive Michael Wirth. The company plans an increase of up to 3% in oil and gas output through 2025.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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