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Market Buzz: Phillips 66 and Chevron Post Mixed Results

  • October 27th, 2023
  • 563 views

Phillips 66 (NYSE: PSX) reported its third-quarter 2023 earnings, with a figure of $4.63 per share. However, this result fell short of the consensus EPS estimate of $4.76. On the revenue side, the company performed better, with quarterly sales reaching $40.32 billion, surpassing analysts' expectations of $38.96 billion in revenue.

$PSX was trading at $110.09 in pre-market, showing a slight decrease of $0.01 (-0.01%).

In contrast, Chevron Corporation (NYSE: CVX) also released its third-quarter 2023 earnings, coming in at $3.05 per share, but this result missed the consensus EPS estimate of $3.33. The company's quarterly sales amounted to $54.08 billion, slightly above analysts' revenue forecast of $53.00 billion for the period.

In pre-market, $CVX was trading at $151.10, down $3.65 (-2.36%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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