Chevron Corp Q1 2021 Earnings Call Summary - Thomson StreetEvents

Chevron Corp Q1 2021 Earnings Call Summary

Chevron Corp Q1 2021 Earnings Call Summary - Thomson StreetEvents
Chevron Corp Q1 2021 Earnings Call Summary
Published Apr 30, 2021
18 pages (11205 words) — Published Apr 30, 2021
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Brief of CVX.N earnings conference call or presentation 30-Apr-21 3:00pm GMT

  
Brief Excerpt:

...A. Highlights: Had best financial performance [of last year] as global economy recovers. 1. 2. Reported earnings $1.4b. Adjusted earnings $1.7b or $0.90 per share. a. b. Included in qtr. were pension settlement costs and legal reserves totaling $351m. c. Pension settlement and curtailment costs will be special item going forward. d. For comparability purposes, 2020 adjusted earnings were recasted to exclude these costs. 3. CapEx down over 40% from a year ago. Ended qtr. with net debt ratio of 22.5%. a. 4. For first time since pandemic, cash flow from operations, excluding working capital, exceeded cash CapEx and dividend spending. Cash balances ended qtr. slightly higher due to timing considerations. a. b. Expects cash balances to come back down later in year. 5. Free cash flow, excluding working capital, $3.4b. Up significantly from last year and higher than 2019 quarterly avg. a. b. With oil prices back up to around 2019 levels and downstream earnings still recovering, higher free cash...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Chevron Corp
Ticker
CVX.N
Time
3:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Pierre, 2 questions. First, among your peers that I think you have probably the happier concentration in California. And with the Governor's latest proposal, how that may impact your overall operation or how you may restructure it or you do need to restructure it? So I want to see that how are you guys thinking about the policy outlook impacting your business in California, both in the downstream and the upstream? The second question that if we look at some of the smaller persons, in the last E&P, in the last 12 months, I think one of the movement is into the variable dividend, which is never, I think, for the major oil companies, such as you guys, you guys always use share buyback. So just curious that internally that have the Board and management even consider the variable dividend versus buyback to see which is a better way to return cash to the shareholders?

Table Of Contents

Chevron Corp Q2 2021 Earnings Call Summary – 2021-07-30 – US$ 54.00 – Edited Brief of CVX.N earnings conference call or presentation 30-Jul-21 3:00pm GMT

Chevron Corp Q2 2021 Earnings Call Transcript – 2021-07-30 – US$ 54.00 – Edited Transcript of CVX.N earnings conference call or presentation 30-Jul-21 3:00pm GMT

Chevron Corp at Sanford C Bernstein Strategic Decisions Conference (Virtual) Transcript – 2021-06-02 – US$ 54.00 – Edited Transcript of CVX.N presentation 2-Jun-21 7:30pm GMT

Chevron Corp Annual Shareholders Meeting Transcript – 2021-05-26 – US$ 54.00 – Edited Transcript of CVX.N shareholder or annual meeting 26-May-21 3:00pm GMT

Chevron Corp Q1 2021 Earnings Call Transcript – 2021-04-30 – US$ 54.00 – Edited Transcript of CVX.N earnings conference call or presentation 30-Apr-21 3:00pm GMT

Chevron Corp Virtual Investor Day Transcript – 2021-03-09 – US$ 54.00 – Edited Transcript of CVX.N corporate analyst meeting</ 9-Mar-21 3:00pm GMT

Chevron Corp Q4 2020 Earnings Call Summary – 2021-01-29 – US$ 54.00 – Edited Brief of CVX.N earnings conference call or presentation 29-Jan-21 4:00pm GMT

Chevron Corp Q4 2020 Earnings Call Transcript – 2021-01-29 – US$ 54.00 – Edited Transcript of CVX.N earnings conference call or presentation 29-Jan-21 4:00pm GMT

Chevron Corp Q3 2020 Earnings Call Summary – 2020-10-30 – US$ 54.00 – Edited Brief of CVX.N earnings conference call or presentation 30-Oct-20 3:00pm GMT

Chevron Corp Q3 2020 Earnings Call Transcript – 2020-10-30 – US$ 54.00 – Edited Transcript of CVX.N earnings conference call or presentation 30-Oct-20 3:00pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Chevron Corp Q1 2021 Earnings Call Summary" Apr 30, 2021. Alacra Store. May 12, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2021-Chevron-Corp-Earnings-Call-B14652472>
  
APA:
Thomson StreetEvents. (2021). Chevron Corp Q1 2021 Earnings Call Summary Apr 30, 2021. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2021-Chevron-Corp-Earnings-Call-B14652472>
  
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