Chevron Corp. said its normalized net income for the fourth quarter amounted to 9 cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.
The per-share result swung to a profit from the prior-year loss of 60 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $171.4 million, compared with a loss of $1.13 billion in the year-earlier period.
The normalized profit margin climbed to 0.6% from negative 4.3% in the year-earlier period.
Total revenue climbed 8.2% year over year to $28.45 billion from $26.30 billion, and total operating expenses came to $29.15 billion, compared with $29.17 billion in the year-earlier period.
Reported net income came to $411.5 million, or 22 cents per share, compared with a loss of $581.8 million, or a loss of 31 cents per share, in the year-earlier period.
For the year, the company's normalized net income totaled a loss of $1.08 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.36.
EPS was 67 cents in the prior year.
Normalized net income was a loss of $2.02 billion, compared with income of $1.25 billion in the prior year.
Full-year total revenue fell year over year to $103.31 billion from $122.57 billion, and total operating expenses declined on an annual basis to $109.34 billion from $125.71 billion.
The company said reported net income totaled a loss of $505.7 million, or a loss of 27 cents per share, in the full year, compared with income of $4.59 billion, or $2.45 per share, the prior year.
