Chevron Reports 4Q:20 Results [PDF DOWNLOAD]

(Chevron, 29.Jan.2021) — Chevron Corporation reported a loss of $665mn ($(0.33)/share – diluted) for fourth quarter 2020, compared with a loss of $6.6bn ($(3.51)/share – diluted) in fourth quarter 2019. Included in the current quarter was a charge of $120mn associated with Noble Energy, Inc. acquisition costs. Foreign currency effects decreased earnings by $534mn. Adjusted loss of $11 million ($(0.01)/share – diluted) in fourth quarter 2020 compares to adjusted earnings of $2.8bn ($1.49/share – diluted) in fourth quarter 2019.

Chevron reported a full-year 2020 loss of $5.5bn ($(2.96)/share – diluted), compared with earnings of $2.9bn ($1.54/share – diluted) in 2019. Included in 2020 were net charges for special items of $4.5bn, compared to net charges of $8.7bn for special items in 2019. Foreign currency effects decreased earnings in 2020 by $645mn. Adjusted loss of $368mn ($(0.20)/share – diluted) in full-year 2020 compares to adjusted earnings of $11.9bn ($6.27/share – diluted) in full-year 2019. For a reconciliation of adjusted earnings/(loss), see Attachment 5.

Sales and other operating revenues in fourth quarter 2020 were $25bn, compared to $35bn in the year-ago period.

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