(Energy Analytics Institute, 30.Jul.2021) — Chevron Corporation (NYSE: CVX) reported earnings of $3.1bn or $1.60 per share – diluted for second quarter 2021 (2Q:21) compared to a loss of $8.3bn ($4.44) per share – diluted in the 2Q:20.
Included in the current quarter were remediation charges associated with previously sold assets of $120mn and pension settlement costs of $115mn. Foreign currency effects increased earnings by $43mn, the company said.
Adjusted earnings of $3.3bn or $1.71/share – diluted in 2Q:21 compare to an adjusted loss of $2.9bn or ($1.56)/share – diluted in the 2Q:20.
Other highlights from the quarter include: cash flow from operations of $7bn; free cash flow of $5.2bn, and resumption of share repurchases targeted at $2bn-$3bn per year
By Steven Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.