Summary by Moomoo AI
Chevron Corporation (Chevron) reported a decrease in net income for the third quarter of 2024, with earnings of $4.5 billion, down from $6.5 billion in the same period of 2023. Diluted earnings per share for the quarter were $2.48, compared to $3.48 in the previous year. The company's net income for the first nine months of 2024 was $14.4 billion, a decline from $19.1 billion year-on-year, with diluted earnings per share at $7.88, down from $10.14. Upstream earnings for the third quarter decreased to $4.6 billion from $5.8 billion in 2023, attributed to unfavorable foreign currency effects, tax impacts, and lower realizations, despite higher sales volumes. Downstream earnings also fell to $595 million from $1.7 billion, primarily due to lower margins on refined product sales. Chevron's global operations span multiple countries, with...Show More
