Chevron cvx earnings report for the second quarter of 2023

Cars drive past the sign with the logo at the entrance to the world headquarters of the petroleum company Chevron in the park of Bishop Ranch offices in San Ramon, California.

Smith Collection | photo archive | Getty Images

chevron He said Sunday that the company’s chief financial officer, Pierre Breber, will retire next year, and named company veteran Emir Bonner, chief technology officer at Chevron Technical Center, as his successor.

Separately, the company also said it had waived the mandatory retirement age requirement for its CEO, Mike Wirth.

Bonner, 49, has been with Chevron for more than 24 years. Bonner will report to the CEO of Chevron in her new role.

The company said in a statement that the next CEO will take over from March 1, 2024.

The second largest US oil company also announced preliminary earnings results for the second quarter. Net profit fell to $5.8 billion, or $3.08 per share. It was not immediately clear how this compares to analysts’ estimates.

However, Chevron noted that the financial results announced Sunday do not represent a comprehensive statement of second-quarter results, and said it will release its full earnings numbers for the second quarter on Friday, July 28th.

Chevron said it issued a record dividend of $7.2 billion to shareholders in the most recent quarter, including a dividend of $2.8 billion and share repurchases of $4.4 billion.

Chevron also produced 772,000 barrels of oil equivalent in the Permian Basin, another record quarter. The company said Permian’s early 2023 performance for assets under management is on track with its guidance for the full year.

Reuters contributed to this report.

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