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Shanthi Rexaline

Chevron Reports 47% Decline In Q2 Earnings, Announces Management Changes

Chevron Mike Wirth Mario Tama Oil Chevron Corp

Oil giant Chevron Corp. released preview of its second-quarter results that showed adjusted earnings declining 47% year-over-year. MARIO TAMA/GETTY IMAGES

Oil giant Chevron Corp. (NYSE:CVX) on Sunday released a preview of its second-quarter results that showed adjusted earnings declining 47% year-over-year but ahead of the consensus estimate. The oil giant also announced a slew of management changes, including the extension of the tenure of its chief executive officer and the retirement of its chief financial officer.

The San Ramon, California-based company reported adjusted earnings per share of $3.08 compared to the year ago’s $5.82 and the previous quarter’s $3.55.

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