Published January 31, 2025

08:17 AM EST

David Paul Morris / Bloomberg / Getty Images

Key Takeaways

  • Chevron posted fourth-quarter revenue well above analysts’ estimates Friday but profit fell short.
  • The energy giant also announced a 5% increase to its quarterly dividend to $1.71 per share.
  • Ahead of its earnings report, Chevron said it would partner with GE Vernova to build natural-gas power stations for AI data centers across the U.S.

Chevron (CVX) stock slipped in premarket trading Friday after the energy giant’s fourth-quarter profit came up short of analysts’ expectations.

The energy giant reported $52.23 billion in revenue, up more than 10% year-over-year and well above the $47.49 billion that analysts projected, per Visible Alpha.

Chevron recorded profit that rose 43% to $3.24 billion, or $1.84 per share, but below expectations of $3.43 billion and $1.96 per share. Adjusted earnings per share (EPS) of $2.06 also missed estimates.

Chevron also announced that the company’s board has approved a 5% bump in its quarterly dividend to $1.71 per share.

Earnings Follow GE Vernova Partnership News

Earlier this week, the company announced plans to partner with GE Vernova (GEV) to build natural-gas power stations for artificial intelligence (AI) data centers across the country.

Chevron shares were down 1.5% in premarket trading after entering the day up 6% over the last 12 months.

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.