- Fourth quarter earnings of $5.1 billion; annual earnings of $15.6 billion -Strong cash flow from operations of $29.2 billion in 2021
- Record free cash flow of $21.1 billion in 2021 -Dividends and share repurchases of $11.6 billion in 2021
- San Ramon, Calif., January 28, 2022 – Chevron Corporation (NYSE: CVX) today reported earnings of $5.1 billion ($2.63 per share – diluted) for fourth quarter 2021, compared with a loss of $665 million ($(0.33) per share – diluted) in fourth quarter 2020. Included in the current quarter were asset sale gains of $520 million, losses on the early retirement of debt of $260 million and pension settlement costs of $82 million. Foreign currency effects decreased earnings by $40 million. Adjusted earnings of $4.9 billion ($2.56 per share – diluted) in fourth quarter 2021 compares to adjusted earnings of $298 million ($0.16 per share – diluted) in fourth quarter 2020.
- Chevron reported full-year 2021 earnings of $15.6 billion ($8.14 per share – diluted), compared with a loss of $5.5 billion ($(2.96) per share – diluted) in 2020. Included in 2021 were net charges for special items of $289 million, compared to net charges of $5.1 billion for special items in 2020. Foreign currency effects increased earnings in 2021 by $306 million. Adjusted earnings of $15.6 billion ($8.13 per share – diluted) in 2021 compares to adjusted earnings of $172 million ($0.09 per share – diluted) in 2020. For a reconciliation of adjusted earnings/(loss), see Attachment 5.
Sales and other operating revenues in fourth quarter 2021 were $46 billion, compared to $25 billion in the year-ago period.
ADVERTISEMENT
