Chevron gains after refining strength drives Q3 earnings beat

Chevron

Today 10:27

** Shares of US oil major Chevron CVX.N rise 2.2% to $236.62 premarket
** Company beats estimates for Q3 adjusted profit as refining margins soared amid the US-Israeli war on Iran and the Russia-Ukraine conflict
** CVX posts Q3 adjusted profit of $5.28 per share vs estimate of $4.89 per share - data compiled by LSEG
** Company's Q3 downstream earnings total $4.9 billion, slightly higher than Q2
** Posts Q3 upstream earnings at $5.7 billion, down 30% from the previous quarter due in part to lower oil prices
** CVX refineries achieved record US crude throughput of over 1 million barrels/day during the quarter
** As of last close, stock up about 52% YTD

(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))