Chevron warns 4Q profit will be less than 3Q
(AP) — Chevron warns that it expects to record lower profit for the fourth quarter compared with the previous quarter.
The oil company blamed the shortfall in part on "significantly weaker" margins in its refining business. The company didn't give more specific guidance.
It cautioned that its commentary is based only on two months of data for the fourth quarter. Chevron is scheduled to reports its results on Jan. 29.
In the third quarter, Chevron reported profit of $1.92 per share.
For the fourth quarter, analysts polled by Thomson Reuters expect Chevron to earn $1.75 per share on $43.5 billion in revenue.
Shares fell 73 cents to $80.15 in extended trading. They finished regular trading up $1.41 at $80.88 after setting a new year high of $81.09.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
