Chevron missed EPS for second quarter by 10c, more than it was estimated by analysts. So, I wonder what their first reaction will be...
21 replies (most recent on top)
A lot of investors are happy with the 2Q results, share price is up over $6 since the report out. Seems Chevron is at least going in the right direction. As people have said further reductions in CAPEX and manpower will be forth coming.
@3fli, In the end, upper management's way of seriously controlling costs is to layoff another batch of people. Watch and see.
Chevron also announced a CAPEX reduction of 1.5 billion which will put it at the low end of the range for 2017 and possible further reduction for 2018. Does not sound very optimistic. Also, expect another 1 cent quarterly increase in dividend to maintain dividend aristocrat status. At least upper management seems serious about controlling costs.
If a company were to reduce the dividend, usually by a large percentage, then the entire ratio has to be rest to the 'new' normal and tracked for 2-3 years at least to get a new trend line. Chevron is a dividend aristocrat, so the ratio measurement makes fairly good sense. Just Another chart to add to all the others.
3vvu, you are correct chevron is not there yet, but things are at least trending in the right direction, regardless of what the pessimists say.
The way I look at quarterly earnings, especially Chevron, is if the net profit exceeds the quarterly dividend. It did not for this quarter. The net profit to dividend ratio is still below 1. When that ratio goes above 1, then that will be a good sign for those still employed. There is nothing scientific about my method. It can be applied to any company as a general indicator of that company's current health, so to speak.
You people are like kids. Try and behave a bit better and be less toxic. Act like adults
It's healthy to be cynical in this world now days. Lots of what is being peddled is a "farce". If you fail to recognize that fact, you'll know it's a horrible way to live.
Well, the years have already come and gone my friend. Sorry if you have the outlook that the world is a "farce" as you call it. That's a horrible way to spend your years.
Naive @2nak. The years will pass by and if you have paid attention, your experience will teach you this is all a farce.
I agree with the last poster, there have been ups and downs throughout most of us older folk's careers and it's not the end of the world. After a few it's pretty much business as usual. Things get leaner, things get fatter. There will still be a large need for hydrocarbons, not just for fuel, but for plastics and chemicals in all forms of industry and manufacture, into the foreseeable future. I'm am all for green and renewable energy, but we all need to keep working hard and stay focused on the means to get there, and one big step is the clean and efficient utilization of our current largest fuel/plastics/chemicals/critical components source.
Regardless if you like it or not chevron will continue to bounce back, that is a fact. In regards to talent, when things balance out Chevron will acquire additional talent and assets. I know some of you are too sad to recognize this fact but it's true. This is not the first downturn in industry. I suggest you folks lay off the Skype parties and pull your pants up.
I have looked at layoff sites for a lot of companies and I have to say this one seems to have the rudest, dumbest and most wretched posters. You all need to take a step back and have a look at yourselves.
There is nothing to buckle up for. Chevron will continue to grind along with okay, but not outstanding earnings for the next couple of years, or more. Belt tightening will continue with some further consolidation, asset sales, CAPEX adjustments and unfortunately layoffs. That is the reality that everyone here knows. This downturn will eventually pass, but the accumulated knowledge and experience of the older exploration people will be gone. Future hiring requirements will be much lower, and the whole cycle starts over again.
@1fsn, On this site thete are laid off employees, active employees and those about to be laid off. You have people of all stripes on here. Make a point and move on.
I don't work for Chevron anymore, pvt. I certainly have the right to complain after getting laid off arbitrarily. Maybe I was on some manager's sh!t list when my number came up. I enjoyed my job all the 28 years I was there, but now and because of my layoff, I don't give a rat's a$$ what happens there anymore.
Another quarter of postive earnings and you folks continue to gripe. Don't quite understand the joy you get complaining about a company that pays you.
there are a bunch of trigger happy investors ... look at the hike Amazon went through only based on speculation ... the early boost to the stock price will deflate soon ...
-xfy FYI shareholders are not happy though.
Yes, the story this morning was that Chevron beat "Revenue" estimates, hushing up the main point about Earnings Per Share, which were down. Chevron playing the CNN card (fake news). EPS is the main concern for shareholders.
Whatever it takes to keep shareholders happy.