Chevron reports Q3 adjusted EPS $1.85, consensus $1.71

Reports Q3 revenue $49.73B, consensus $47.42B. “Third quarter results reflect record production, strong cash generation and sustained superior cash returns to shareholders,” said Mike Wirth, Chevron’s (CVX) chairman and chief executive officer. U.S. and worldwide production hit new company records, up 27 percent and 21 percent, respectively, from last year. Strong cash flow from operations was sustained while the company’s adjusted free cash flow increased more than 50 percent from a year ago. The company returned $6 billion of cash to shareholders in the quarter, and over $78 billion in the last 3 years. “The integration of Hess is progressing well, unlocking synergies across our operations and positioning Chevron as a premier global energy company,” Wirth concluded. After closing of the Hess transaction, the company’s interest in the Malaysia-Thailand joint development area was divested, and other assets are now being integrated into the company’s streamlined organizational structure.