Chevron (CVX), Exxon Mobil (XOM), Aon Plc (AON), Royal Caribbean Cruises (RCL) – Earnings PreviewAuthor: Abhijit SenLast Updated: March 12, 2020Chevron Corporation , Exxon Mobil Corporation , Aon Plc and Royal Caribbean Cruises Ltd will report quarterly results on Friday. Here’s what investors can expect:Chevron Corporation Chevron is all set to release second quarter results on Friday morning. The average analysts’ estimate is for net income of $1.16 a share, versus the $2.98 in the year-ago period. Revenue is projected to be about $30.9 billion for the quarter, compared to the $57.9 billion recorded a year earlier.Chevron Corporation ’s production is expected to receive a big boost when the $54 billion Gorgon liquefied natural gas project in Australia starts up during the second half of the year. Investors will be eagerly waiting for any fresh updates on the project. Further cost overruns could strike a severe blow to the company.Analysts have also been cautious on Chevron Corporation ’s rising capital expenditures. In fact, during the first quarter, the company spent four times more than it generated in cash from operations. Chevron needs to initiate more meaningful cuts to stem this trend.Exxon Mobil Corporation Exxon Mobil will report second quarter numbers on Friday. The consensus of analysts covering the stock is for earnings of $1.12 a share, compared with the $2.05 a share, recorded a year earlier. Sales are forecast to come in at $72.5 billion, versus $111.6 billion in the prior-year quarter.Since crude oil prices began tumbling last year, Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and Chevron Corporation have announced they would lay-off thousands of workers. Exxon Mobil Corporation is yet to initiate any such move. Investors will be tuned into the conference call to look for any signs of a proposed job-cutting program.The oil major is unique in that when oil and gas prices are low, the company realizes higher profits from its fuels and chemicals divisions. During the first quarter, Exxon Mobil Corporation ’s profit from its downstream business was almost as much as its earnings from pumping oil. Will the trend reverse in the current quarter?Aon Plc Aon Plc will post quarterly results before the start of trade on Friday. Analysts expect the company to record earnings of $1.30 a share. For the current fiscal year, analysts are projecting earnings of $6.13 a share, and next fiscal should see that figure jump to $6.76.In the last reported quarter, Aon Plc ’s EPS of $1.37 easily beat the consensus estimate of $1.28. During the corresponding quarter of last year, the company reported $1.28 in earnings per share.Shares of Aon Plc closed Thursday at $101.94. The stock has a one-year high of $107.08, and a low of $78.26, with and a price-to-earnings ratio of 21. The company also recently declared a quarterly dividend of $0.30 a share, payable on August 17, to investors of record on August 3.Royal Caribbean Cruises Ltd Royal Caribbean Cruises is likely to report second-quarter earnings of 73 cents per share, up from 66 cents per share in the same period last year. Shares ended Thursday at $82.80.Royal Caribbean Cruises Ltd has a 52-week high of $85.63, and a low of $52.32, with the current price-to-earnings ratio of 23.50. The stock has been the subject of several analyst upgrades in the recent past. Goldman Sachs raised the company from a “neutral” rating to a “buy” rating and increased its target price from $79.00 to $91.00.Barclays reiterated its “overweight” rating and set a $87.00 price target in a report to investors on Thursday, July 2.