Summary
Chevron Corporation reported net income attributable to Chevron Corporation of $6.178 billion for the first quarter of 2013, a slight decrease from $6.471 billion in the same period of 2012. Diluted earnings per share were $3.18 compared to $3.27 in the prior year. Total revenues and other income decreased to $56.818 billion from $60.705 billion year-over-year, primarily driven by lower sales and other operating revenues. Key factors influencing performance included a decrease in upstream earnings, mainly due to lower crude oil realizations and volumes, partially offset by favorable tax items and lower exploration expenses. Downstream earnings also saw a decline, impacted by the absence of prior-year gains on asset sales and higher operating expenses, though partially supported by improved margins. The company continued its commitment to shareholder returns, paying $1.7 billion in dividends and repurchasing $1.25 billion in common stock during the quarter. Capital expenditures remained significant, with a total of $8.9 billion invested, primarily in upstream projects.
Financial Highlights
44 data points| Revenue | $56.82B |
| SG&A Expenses | $998.00M |
| Operating Expenses | $46.53B |
| Net Income | $6.18B |
| EPS (Basic) | $3.20 |
| EPS (Diluted) | $3.18 |
| Shares Outstanding (Basic) | 1.93B |
| Shares Outstanding (Diluted) | 1.94B |
Key Highlights
- 1Net income attributable to Chevron Corporation for Q1 2013 was $6.178 billion, down from $6.471 billion in Q1 2012.
- 2Diluted earnings per share decreased to $3.18 from $3.27 year-over-year.
- 3Total revenues and other income declined to $56.818 billion from $60.705 billion.
- 4Upstream earnings decreased due to lower crude oil realizations and volumes, despite favorable tax items and reduced exploration expenses.
- 5Downstream earnings decreased primarily due to the absence of 2012 asset sale gains and higher operating expenses.
- 6The company paid $1.7 billion in dividends and repurchased $1.25 billion of its common stock in Q1 2013.
- 7Capital and exploratory expenditures increased to $8.9 billion in Q1 2013 from $6.4 billion in Q1 2012, with the majority directed towards upstream projects.