Chevron Reports Third-Quarter Net Income of $3.83 Billion

Noria news wires, Noria Corporation

Chevron Corporation on October 30 reported earnings of $3.83 billion ($1.92 per share – diluted) for the third quarter 2009, compared with $7.89 billion ($3.85 per share – diluted) in the 2008 third quarter. Earnings in the 2009 period included gains of approximately $400 million ($0.20 per share) from asset sales and tax items. Foreign-currency effects reduced earnings in the 2009 quarter by $170 million, compared with a benefit to income of $303 million a year earlier.

 

For the first nine months of 2009, earnings were $7.41 billion ($3.71 per share – diluted), down 61 percent from $19.04 billion ($9.23 per share – diluted) in the first nine months of 2008.

 

Sales and other operating revenues in the third quarter 2009 were $45 billion, compared with $76 billion in the year-ago quarter. For the first nine months of 2009, sales and other operating revenues were $120 billion versus $222 billion in the corresponding 2008 period. The decline in both comparative periods was primarily due to lower prices for crude oil, natural gas and refined products.


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