Posted by
Message
Ramblin Wreck
Georgia Tech Fan
Member since Aug 2011
2568 posts

Chevron reports $8.3 Billion Loss for Second Quarter
Chevron and ExxonMobil both with large losses. ExxonMobil reports $1.1 billion dollar loss, but that seems small compared to Chevron.
This post was edited on 7/31 at 10:10 am


castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
68440 posts
 Online 

re: Chevron reports $8.3 Billion Loss for Second Quarter
And added more debt with noble


Replies (0)
Replies (0)
20
LSURussian
LSU Fan
9 acres of paradise in Baton Rouge
Member since Feb 2005
121369 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
quote:

ExxonMobil reports $1.1 billion dollar loss,
The loss resulted from a write down in the market value of XOM's oil reserve's assets.

IOW, it was a non-cash loss. Cash flow remains strong.


LSUBanker
LSU Fan
Member since Sep 2003
2034 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter


C
Atlanta Falcons Fan
Houston
Member since Dec 2007
26322 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
I don’t think that is true for XOM.
This post was edited on 7/31 at 11:07 am


tirebiter
LSU Fan
Member since Oct 2006
6773 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
quote:

CONTEXT NEWS

- Exxon Mobil on July 31 reported a second-quarter loss of $1.1 billion, or 26 cents a share. Excluding a $1.9 billion non-cash gain from rising commodity prices, the loss was 70 cents a share, compared to the mean estimate of sell-side analysts for a loss of 56 cents a share, according to Refinitiv data.

- Revenue of just under $33 billion was 53% lower than the same period last year. Analysts on average had estimated just over $38 billion.

- On the same day Chevron reported results for the three months to the end of June. It lost $8.3 billion, or $4.44 a share. Adjusted to exclude the write-down of its Venezuela business, downward revisions in its commodity price outlook, severance costs and the sale of an asset in Azerbaijan, the company lost $3 billion, or $1.59 a share. That compares with the mean estimate of sell-side analysts for a loss of 92 cents a share.

- Revenue of $13.5 billion was 65% lower than last year’s second quarter; the mean estimate was for $22 billion.

- ConocoPhillips on July 30 reported second-quarter earnings of $260 million, or 24 cents a share, thanks to gains from an asset sale and its equity stake in Canadian producer Cenovus Energy. Excluding these items the company lost almost $1 billion, or 92 cents a share. The mean estimate of sell-side analysts was for a loss of 58 cents a share.


Replies (0)
Replies (0)
00
TD SponsorTD Fan
USA
Member since 2001
Thank you for supporting our sponsors
Advertisement
SaintLSUnAtl
LSU Fan
THE REAL MJ
Member since Jan 2007
22031 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
But they do...and they’re the ones writing it off


I was just talking about this scene the other day with my uncle


Replies (0)
Replies (0)
40
notiger1997
Metairie
Member since May 2009
47392 posts
 Online 

re: Chevron reports $8.3 Billion Loss for Second Quarter
I still don't understood how Exxon is going to sustain their dividend payments for much longer with this market


C
Atlanta Falcons Fan
Houston
Member since Dec 2007
26322 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
They’ll be fine at 40-50 range. 3Q will be profitable at current prices.


Replies (0)
Replies (0)
30
LSURussian
LSU Fan
9 acres of paradise in Baton Rouge
Member since Feb 2005
121369 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
quote:

I don’t think that is true for XOM.
You're right.

I read a paragraph describing XOM's results and got to a line about halfway down the article that described the reserve write down this quarter and didn't notice that the reporter had switched companies and was referring to Chevron's write downs in the XOM article.

XOM had no write downs this quarter. My bad.
This post was edited on 7/31 at 1:12 pm


Replies (0)
Replies (0)
02
Strannix
Atlanta Braves Fan
Hot as F
Member since Dec 2012
28682 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
time to lay more whitey off


Replies (0)
Replies (0)
95
Double Oh
Louisiana
Member since Sep 2008
10449 posts

re: Chevron reports $8.3 Billion Loss for Second Quarter
whats the dividend on Chevron and Exxon anyone know?


pdubya76
Mississippi St. Fan
Amite County,Ms.
Member since Mar 2012
3980 posts
 Online 

re: Chevron reports $8.3 Billion Loss for Second Quarter
$0.87 a share payable on September 10


Replies (0)
Replies (0)
00
first pageprev pagePage 1 of 1next pagelast page
refresh

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram