Chevron Expects Q4 Earnings to Top Q3 - Shares Climb After-Hours
Chevron Corp. ( CVX ) today said in its interim update that earnings for Q4 2012 are expected to be notably higher than Q3 2012. Upstream results are projected to be higher between sequential quarters, reflecting increased gains on asset transactions and higher liftings. Downstream earnings in the fourth quarter are also expected to be higher, largely reflecting a positive swing in timing effects, despite a sharp decline in industry refining margins.
CVX is up 0.7% at $111.22 after-hours, trading in a 52-week range of $95.73 - $118.53. Shares have increased 2% in the last 12 months.