Chevron Whiffs on Revenues
Chevron (NYS: CVX) reported earnings on Jan. 27. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Chevron whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew, and GAAP earnings per share increased significantly.
Gross margins expanded, operating margins increased, net margins contracted.
Chevron recorded revenue of $58.03 billion. The four analysts polled by S&P Capital IQ expected a top line of $77.41 billion. Sales were 39% higher than the prior-year quarter's $51.85 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $2.58. The 17 earnings estimates compiled by S&P Capital IQ averaged $2.94 per share on the same basis. GAAP EPS of $3.92 for Q4 were 2.3% lower than the prior-year quarter's $2.64 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 39.4%, 150 basis points better than the prior-year quarter. Operating margin was 16.6%, 140 basis points better than the prior-year quarter. Net margin was 8.5%, 370 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $71.95 billion. On the bottom line, the average EPS estimate is $3.07.
Next year's average estimate for revenue is $272.26 billion. The average EPS estimate is $12.97.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 3,887 members out of 4,044 rating the stock outperform, and 158 members rating it underperform. Among 1,037 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,011 give Chevron a green thumbs-up, and 26 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 $121.39.
How did Chevron treat you during the oil spike in 2008 and the subsequent bust? More importantly, what are you doing to prepare for the next spike that some experts believe another spike may be just around the corner? Prepare yourself with a well-positioned energy stock we profile in "The Only Energy Stock You'll Ever Need." Click here for instant access to this free report.
- Add Chevron to My Watchlist.
At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.