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Friday, July 28, 2006

ChevronTexaco Misses EPS Targets

ChevronTexaco (CVX) did what no one anticipated after the huge Exxon Mobil (XOM) numbers Yesterday. They missed earnings expectations. It reported EPS at $1.97, which up from the $1.76 EPS number last year but lower than the $2.21 EPS estimate. Even if you add back in the charges of $0.13 from hurricane damage and other items it is still short. Revenues were just over $53.5 billion. Shares had been trading on 52-week highs yesterday before this release, but are now trading down 2.2% at $66.23 pre-market.
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