Chevron Beats Q1 Earnings Estimates on Upstream Strength
Chevron beat Q1 estimates with adjusted earnings of $1.41 per share. Strong upstream gains from high oil prices offset losses in the downstream business.
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CHEVRON CORP reported first-quarter adjusted earnings of $1.41 per share, beating the 95-cent consensus estimate on Friday morning. Higher oil prices driven by the conflict between Israel and Iran boosted upstream revenue. Investors are weighing upstream resilience against a $817 million downstream loss caused by derivative timing mismatches.
