Exxon Mobil and Chevron, two of the world's largest oil producers, reported weaker third-quarter results on Friday as lower crude prices and rising expenses dented profitability. Despite the downturn, both companies reaffirmed plans to ramp up production, betting on long-term demand resilience even as global oil prices hover near $60 a barrel.
Chevron's net income declined 21% year over year to $3.54 billion, or $1.82 per share, as oil prices fell and costs rose due to the Hess acquisition. But the oil major achieved record production of 4.1 million barrel per day.
Chevron beat analyst estimates on Friday as record oil and gas production, boosted by its $55 billion acquisition of Hess, and stronger refining margins lifted the No. 2 U.S. oil producer's results for the third quarter.
HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) reported earnings of $3.5 billion ($1.82 per share - diluted) for third quarter 2025, compared with $4.5 billion ($2.48 per share - diluted) in third quarter 2024. Included in the quarter was a net loss of $235 million due to severance and other transaction costs related to the acquisition of Hess Corporation (Hess), partly offset by the...
Exxon Mobil Corp. and Chevron Corp. are slated to report quarterly earnings before the bell Friday. They've posted better profits and revenues in the past several quarters, but today's financial snapshots could be different.
These companies are of a size that excludes them from the indexes. WaterBridge's revenue and operating margin in this business, per barrel of water, are about $0.85 and $0.45. Tejon Ranch's strategy is to invest in getting land entitled for commercial and residential development.
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