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Chevrons Q4 Income Climbs Beyond Projections, Yet Earnings Disappoint
*Released January 31, 2025, 8:17 AM ET*
**Main Points:**
* Chevron revealed a substantial revenue surge for Q4, though profits didn’t meet expert estimates.
* The energy behemoth is increasing its quarterly payout by 5% to $1.71 per share.
* Before the earnings announcement, Chevron declared a partnership with GE Vernova to develop natural gas power stations for AI data hubs throughout the U.S.
Chevron (CVX) shares decreased in premarket activity Friday subsequent to the energy titan’s Q4 profits underperforming.
The firm reported a massive $52.23 billion in income, a 10% year-over-year rise that easily exceeded the $47.49 billion projected by Visible Alpha.
Although profits soared 43% to $3.24 billion ($1.84 per share), they still fell short of the anticipated $3.43 billion ($1.96 per share). Adjusted earnings per share (EPS) also came in below expectations, at $2.06.
On a more positive note, Chevron’s board authorized a 5% increase in the quarterly dividend, bringing it to $1.71 per share.
**Earnings Follow GE Vernova Alliance Revelation**
Earlier this week, Chevron disclosed intentions to collaborate with GE Vernova (GEV) to build natural gas power facilities specifically for AI data centers across the country.
Chevron shares were down 1.5% in premarket trading, following a 6% increase over the past year.
