Analysts have become increasingly bearish on Chevron in the month leading up to the company's third-quarter earnings announcement scheduled for Friday, October 31, 2014. The consensus analyst estimate has moved from $2.69 a share to the current prediction of earnings of $2.60 a share.
The consensus estimate has dipped over the past three months from $2.86. For the fiscal year, analysts are expecting earnings of $10.31 per share. Analysts look for revenue to decrease 9% year-over-year to $52.97 billion for the quarter, after being $58.50 billion a year ago. For the year, revenue is expected to come in at $221.50 billion.
Over the last four quarters, the company saw a year-over-year drop in revenue by an average of 3%. The biggest fall was in the fourth quarter, when it fell 7% from the year-earlier quarter.
Net income increased in the second quarter, snapping a two-quarter streak of falling profit. In the second quarter, net income rose 14%, while the figure dropped 27% in the first quarter and 32% in the fourth quarter.
Earnings estimates provided by Zacks.
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