Website Updated November 17, 2020
Summary
Third quarter loss of $207 million; adjusted earnings of $201 million
Capital spending down 48 percent; operating expenses down 12 percent
Noble Energy acquisition completed in October 2020
SAN RAMON, Calif.--(BUSINESS WIRE)--Oct. 30, 2020-- Chevron Corporation (NYSE: CVX) today reported a loss of $207 million ($(0.12) per share - diluted) for third quarter 2020, compared with earnings of $2.6 billion ($1.36 per share - diluted) in third quarter 2019. Included in the current quarter was a charge of $130 million attributable to a tax item related to an international upstream end-of-contract settlement and a non-cash provision of $90 million for remediation of a former mining asset. Foreign currency effects decreased earnings by $188 million.
Adjusted earnings of $201 million ($0.11 per share - diluted) in third quarter 2020 compares to adjusted earnings of $2.9 billion ($1.55 per share - diluted) in third quarter 2019. For a reconciliation of adjusted earnings/(loss), see Attachment 5.
Sales and other operating revenues in third quarter 2020 were $24 billion, compared to $35 billion in the year-ago period. Click HERE for news release
New answers for Aunt Edna
Chevron has a great Advocacy Network. Please click here and sign up today. For more information, go to the Chevron Advocacy Network page (includes 3-minute retiree testimonial video).
In Memoriam is the CRA's monthly obituary list.
View the October 2020 “In Memoriam”
For detailed information please click here. 4th Quarter Benefits Corner article in ENCORE
Please watch for updated information on the COVID-19 Pandemic in this article about :
Chevron matching funds for your charitable contributions and volunteer work. See our Chevron Humankind page.
Encore 4Q 2020 President Herb Farrington's letter states that the year 2020 has been a Journey with meeting cancellations and using Zoom to communicate. Featured Article on Elaine Yamaguchi tells of her success with the SEED program.
Various Chevron merchandise is now available through two links listed below. This was brought about by the CRA East Bay Chapter thanks to Ricky Woo. For Men's wear click here. For Women's wear click here.
The CRA has almost 70 chapters throughout the U.S. and Canada. If you worked for Chevron, please consider joining a chapter. Check out our Membership page.
Zoom Meetings Some CRA Chapters are utilizing ZOOM for their Chapter Meetings Please contact your Chapter President if you have an interest.
For more details, see our Upcoming Events page.