NYSE: CVX) today reported earnings of $6.2 billion ($3.18 per share – diluted) for the first quarter 2013, compared with $6.5 billion ($3.27 per share – diluted) in the 2012 first quarter. Sales and other operating revenues in the first quarter 2013 were $54 billion, down from $59 billion in the year - ago period, mainly due to lower prices for crude oil.
“Our first quarter earnings were strong, ”said Chairman and CEO John Watson. “Our consistent financial performance has enabled us to significantly increase the dividend again, and fund major development projects that are the foundation of the company’s future growth in production, earnings and cash flows.” “Our key development projects remain on track,” Watson added.
“Construction is progressing well on the Gorgon and Wheatstone LNG projects in Australia. Important milestones have been reached recently for our Jack/St. Malo and Big Foot deepwater projects in the Gulf of Mexico, and both remain on schedule for start - up in 2014”......Read the entire Chevron earnings report.
NYSE: NOV) today reported that for its first quarter ended March 31, 2013 it earned net income of $502 million, or $1.17 per fully diluted share, compared to fourth quarter ended December 31, 2012 net income of $668 million, or $1.56 per fully diluted share. The first quarter 2013 results included transaction costs primarily related to the Robbins & Myers acquisition and Venezuela currency devaluation charges, which combined for a total of $73 million in pre tax costs and charges. Excluding these costs and charges, earnings were $553 million, or $1.29 per fully diluted share.
Revenues for the first quarter of 2013 were $5.31 billion, a decrease of seven percent from the fourth quarter of 2012 and an increase of 23 percent from the first quarter of 2012. Operating profit for the quarter, excluding the transaction charges, was $816 million, or 15.4 percent of sales. Sequentially, first quarter operating profit decreased 14 percent, while year-over-year first quarter operating profit decreased seven percent......Read the entire National Oilwell Varco earnings report.
TOT) reports 1st quarter adjusted net profit -7.1% to €2.86B, slightly below consensus of €2.95B. Net profit -58% to €1.54B, due to higher taxes and a €1.25B loss related to the sale of a Canadian oil sands project. Revenues -6% to €48.13B. Oil prices -5%. As expected, oil and gas output -2% to 2.32M barrels of oil equivalent a day, with the decline due to the shutdown of the U.K.'s Elgin-Franklin gas fields, natural decline rates, and maintenance. Remains confident of achieving targets. Total declares a 1st quarter dividend of $0.59 per share, unchanged from previous quarter. ADR timetable: Ex dividend date September 19th, record date September 23, Payment date October 15th......Read the entire Total earnings report.
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