Chevron

Let's take a look very quickly at shares of Chevron. That company just reporting its earnings, and they did come in at a better than expected n A dollar eighty-five a share on an adjusted basis. That's fifteen cents better than expectations. Revenue of forty-nine point seven billion dollars also coming in ahead of expectations. And the company says that it saw record production both in the United States and globally. I spoke with the CEO, Mike Worth, and talked a little bit about what these n He's talking about U. S. production being up twenty-seven percent. Worldwide production up twenty-one percent over the prior year. And he said, look, really, t Cash is the biggest part of what he is most proud about with the story at t If you look at cash flow, adjusted cash flow, seven billion dollars. That's up fifty percent year over year. Despite the fact that crude oil prices were down by ten dollars a barrel over that same period of time. He says when it comes to cash flow, there's a lot of t He listed off four t He said, first of all, they hadn't started the Kazakhstan project and they were growing towards a million dollars a barrel in the Permian on a daily basis, but hadn't gotten there yet. They had three projects that were under construction in the Gulf and the Hestil hadn't closed. All four of those have been resolved or settled at t And he said that's what puts them in such a strong cash flow position. He pointed out that when you talk to people, most people will tell you that they anticipate oil prices will go down from here. And he said that they are in a very strong position if that is the case. He said they're well prepared for that, well positioned for what could be, he said, a very rocky period for commodities. Now, other t And just pointed out that the amount of money they've given back to shareholders, both in terms of dividends and buybacks, added up to about $6 billion for the t Over the last three years, he said they've given $75 billion back to shareholders and just pointed out at a $315 billion market cap. That is a pretty substantial s One of the t And that's a pretty interesting t I asked He said, first of all, in things like exploration, they have over a million dollars in the Gulf and a million doc They've now been able to take and electronically implement all of those t Also, they can do things But a pretty good quarter for the company, and you can see right now that stock is up by 1. 3 percent. By the way, Mike Worth will be on Squawk on the street. That's coming up in the nine o'clock hour. We'll be hearing from ExxonMobil just in the next 10 minutes or so. And we have an exclusive interview with CEO Darren Woods. That's going to be coming up in the 8 a. m. hour.