Simply poor performance by management resulted in 30 cents per share report out and we " dedicated employees" have to pay. CHEVRON WAY
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No but the execs are responsible for preparing us for a downturn. We were not prepared. Clearly. Now we are having to pay.
You are retared and should be fired. "The company posted net income of $571 million, or 30 cents per share, compared with $5.67 billion, or $2.98 per share, in the year-ago period. It was the worst quarterly profit in nearly 13 years." What don't you run a simple ratio math between oil price and our earning. Chevron is down just because of people like you.
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That statement is ridiculous. You can't blame management for $48/ bbl WTI.
Hopefully the smart ones had there portfolio diversified. It'll be many years before CVX sees $130 again. If you are close to retirement, I pity you. If you are young and have 20 years or more, stay the coarse with div reinvestment. Pray that the dividends don't get cut.
Writing down assets is one reason they had such a miserable quarter. See the definition below. All of this is related to the oil price. That's obvious. CVX is definitely no XOM but you can't blame management for low oil prices. Management is a little slow in doing what they have to do but they are finally getting to it. Lafayette should have been closed years ago. Look for ERTC to go next and Covington on the next go around. Short of a war in the middle east, the blood bath is just beginning. But just as the 80, oil companies will downsize and recover
Writing down assets.
Reducing the book value of an asset because it is overvalued compared to the market value. A write-down typically occurs on a company's financial statement, when the carrying value of the asset can no longer be justified as fair value and the likelihood of receiving the cost (book value) is questionable at best.
It's called a write-down
Are you one of the mangers, 30 cents per shares??? Check the others performance and then Blaim on oil.,.
Production was up for the quarter. The problem isn't management, it simply the fact that oil is half the price it was a year ago. The downsizing is painful but necessary. All oil companies are going through this, not just CVX. CVX and others will cut to the point of profitability, it's painful but necessary.
Another +1
+1 for "Exhibit A to support Project Alpha"
Exhibit A to support Project Alpha
I contribute everyday to Chevron dick head. I promise you I take a big shit every morning....well after my coffee. Chevron prevents you from fully contributing. No vision, no strategy, and to many bosses. I have 3 people giving me direction. It's hard or impossible to hit on all cylinders at this place. SO I do donate a big fat turd in the morning. And yes, I flush and wash my hands so you can do a BBS observation on my defecation.
what have you done lately to make chevron more effective?