Chevron(CVX.US) Q4 2023 Earnings Conference
The following is a summary of the Chevron Corporation (CVX) Q4 2023 Earnings Call Transcript: Financial Performance: Chevron reported an adjusted ROCE of 14%, returning a record $26 billion cash to shareholders in 2023. Q4 2023 production was 867,000 barrels of oil equivalent per day. The company had Q4 earnings of $2.3 billion, while adjusted earnings were $6.5 billion. Adjusted earnings were $730 million higher than the previous quarter, mainly due to higher liftings coupled with record quarterly production. Full-year adjusted earnings dropped near $12 billion from the prior year due to lower prices. The balanced sheet remained strong, with a net debt ratio comfortably in the single digits. The company successfully delivered its four financial priorities, including an 8% increase in dividends and reducing debt by over $4 billion. Business Progress: Chevron expects a 2% to 4% decrease in 1H production, but plans to reach around 900,000 barrels per […]
Chevron(CVX.US) Q4 2023 Earnings Conference Read Post »