Chevron (CVX) stock is down in premarket trading after its refining business marked its first loss in four years

Chevron missed Q4 earnings expectations and reports first quarterly loss in refining business since 2020, but raises dividend.

Chevron Corp reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins pushed its refining business into a loss for the first time since 2020.

Chevron reported lower-than-expected fourth-quarter earnings due to a loss in its refining division, despite strong upstream production.

Chevron's downstream business lost $248 million in the fourth quarter of 2024, compared with a profit of $1.15 billion in the same period a year ago

Chevron reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins dragged its refining business into a loss for the first time since 2020. CEO Mike Wirth told Reuters the post-pandemic surge in fuel margins had run its course,