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Chevron Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Reviewed by ClearTape · Source: Benzinga

Key takeaways

Chevron’s Q3 earnings are expected to jump sharply, with analysts raising price targets, signaling confidence in the company’s growth prospects.
$4.83
EPS
Earnings per share — profit for one share of the company, in dollars.
Learn more →
forecast
$61.65 billion revenue forecast
$1.85
EPS
Earnings per share — profit for one share of the company, in dollars.
Learn more →
last year

What happened

Chevron Corporation (NYSE: CVX) will report its third‑quarter earnings before the market opens on Friday, Oct. 30. Analysts project earnings of $4.83 per share, up from $1.85 a year earlier, and revenue of $61.65 billion versus $49.73 billion last year. The company also signed a long‑term natural‑gas supply deal with South32 Worsley Alumina Pty Ltd. on Oct. 27. Recent analyst updates have lifted price targets from $218 to $250 across several firms.

Why it matters

The earnings

guidance

What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.

signals a strong rebound in Chevron’s profitability, reflecting higher oil and gas prices and improved margins. The new supply agreement secures a steady gas stream for South32, potentially boosting Chevron’s upstream cash flow. Analyst upgrades and higher targets suggest growing confidence in…

Short-term and longer-term

Short-term. Chevron’s stock is poised for a short‑term move if the company meets its $4.83

EPS

Earnings per share — profit for one share of the company, in dollars.

Learn more →

target.

Longer-term. Over the next few months, Chevron’s earnings growth and the new gas agreement could strengthen its long‑term cash flow, supporting a higher valuation.

Words on this card

EPS Learn: Earnings per share, the portion of a company’s profit allocated to each outstanding share of common stock.
Revenue: Total income generated from sales of goods or services before expenses are deducted.
Price target: An analyst’s estimate of a stock’s fair value over a specified period.
Long‑term supply agreement: A contract that secures the delivery of a commodity over an extended period, usually years.
Guidance: What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.
Earnings Learn: A company’s results report — usually profit and sales for a quarter, plus any update on what comes next.

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