Chevron Corporation (CVX) said it expects second quarter earnings to be above $2.36 per share. The current consensus earnings estimate is $2.10 per share for the quarter ending June 30, 2010. Chevron Corporation reported in its interim update that earnings for the second quarter 2010 are expected to be higher than in the first quarter. Upstream earnings are projected to be in line with first quarter results. Downstream results, inclusive of the former Chemicals business segment, are expected to be significantly higher than the first quarter. Additionally, earnings are expected to benefit from favorable non-cash foreign currency effects due to the strengthening of the U.S. dollar in the second quarter.
The interim update contains certain industry and company operating data for the second quarter 2010. The production volumes, realizations, margins and certain other items in the report are based on a portion of the quarter and are not necessarily indicative of Chevron’s quarterly results to be reported on July 30, 2010. The reader should not place undue reliance on this data.
http://www.chevron.com/
| Analysts' Targets | |
| Robert W. Baird & Co. | $80 |
| Hold | |
| Thursday, July 01, 2010 | |
| Deutsche Bank Securities | $85 |
| Neutral | |
| Monday, May 03, 2010 | |
| Barrington Research | $98 |
| Buy | |
| Monday, April 26, 2010 | |
| Credit Suisse | $93 |
| Hold | |
| Thursday, April 15, 2010 | |
| Bernstein | $88 |
| Mkt Perform | |
| Tuesday, February 16, 2010 | |
| Citigroup | $97 |
| Buy | |
| Monday, January 11, 2010 | |
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