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News > Companies
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ChevronTexaco 4Q off
graphic January 29, 2002: 9:50 a.m. ET

Oil producer posts loss, hit by lower industrywide crude prices.
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NEW YORK (CNN/Money) - ChevronTexaco posted a whopping fourth-quarter net loss Tuesday as weak industrywide crude prices siphoned the oil refiner's bottom line.

Including charges and other items for the quarter ended Dec. 31, the company posted a net loss of $2.5 billion, or $2.22 a share, compared with a profit of $2 billion, or $1.92 a share, a year earlier.

Excluding merger-related charges and other items, ChevronTexaco (CVX: down $1.22 to $87.65, Research, Estimates) earned $498 million, or 47 cents a share, down from $2.3 billion, or $2.15 a share, a year earlier.

Excluding the impact of negative currency transactions, ChevronTexaco earned 36 cents a share. Earnings tracker First Call could not immediately confirm whether that compares with analysts' consensus forecast for 90 cents a share.

Fourth-quarter revenue sank to $21.5 billion from $32.3 billion. graphic





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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
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