Chevron

Chevron (NYSE:CVX) Reported 2Q23 Earnings Of $6.01B, And Adjusted Earnings Of $5.78B; Adjusted EPS $3.08 Vs. $2.99 Estimate. Adjusted profit of $3.08 a share beat the consensus of $2.97 a share as tracked by FactSet. That is down about 47% from the second quarter last year and down from profit of $3.55 a share in the first quarter of 2023. Quarterly shareholder distributions of $7.2 billion also set a record, Chevron said, including $4.4 billion in share buybacks and $2.8 billion in dividends.

Chevron (NYSE:CVX) said Tuesday it has increased its share-repurchase guidance to $10 billion to $20 billion per year and will raise its annual share repurchase rate to $17.5 billion beginning in Q2.