Chevron (NYSE:CVX) Full Year 2023 Results

Key Financial Results

• Revenue: US$195.8b (down 17% from FY 2022).
• Net income: US$21.4b (down 40% from FY 2022).
• Profit margin: 11% (down from 15% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: US$11.41 (down from US$18.37 in FY 2022).

CVX Production

• Oil equivalent production: 1139.044 MMboe (1094.453 MMboe in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Chevron Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 14%.

Looking ahead, revenue is forecast to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to remain flat.

Performance of the American Oil and Gas industry.

The company's shares are up 3.2% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Chevron's balance sheet and an in-depth analysis of the company's financial position.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.