- Chevron Q3 adjusted EPS of $5.28 beat the $4.89 LSEG consensus, and revenue of $67.8 billion beat the $61.6 billion expected.
- Chevron net income rose nearly 200% to $9.9 billion, or $5.06 a share, from $3.5 billion a year earlier.
- Chevron refining profit rose more than 300% to $4.9 billion, while oil and gas production earnings rose 70% to $5.7 billion.
- Chevron U.S. refineries ran at 98% capacity and processed record crude volumes, with diesel and jet fuel yields up more than 10%.
- Exxon adjusted EPS of $4.23 beat the $4.08 expected, and its refining profit of about $7.2 billion outpaced production earnings of about $7.1 billion.
- Diesel prices surged as Ukraine and Iran bombed refineries in Russia and the Middle East, and Chevron output fell slightly to 3.9 million barrels per day.
Quotes
“Chevron's U.S. refineries processed record amounts of crude oil at just above 1 million barrels per day”
“Diesel and jet fuel yields rose more than 10%, the company said.”