Summary by Moomoo AI
On April 26, 2024, Chevron Corporation reported its unaudited financial results for the first quarter of 2024, announcing earnings of $5.5 billion. This performance marks a decrease from the $6.6 billion earned in the first quarter of the previous year. The company's earnings were impacted by lower margins on refined product sales and lower natural gas realizations, although this was partly offset by higher upstream sales volumes in the U.S. Chevron's worldwide production increased by 12 percent compared to the same period last year, largely due to the acquisition of PDC Energy, Inc. and strong performance in the Permian and DJ Basins. The company continued to return significant cash to shareholders, with $6 billion distributed during the quarter, maintaining its track record of over...Show More