Chevron reported second-quarter 2026 net income attributable to the company of $12.07 billion, or $6.11 per diluted share, and adjusted earnings of $11.98 billion, or $6.06 per diluted share. The company posted total revenues and other income of $70.06 billion for the quarter and cash flow from operations of $22.63 billion. Chevron also reported record U.S. production and record U.S. refinery crude unit throughput in the period.

Financial Highlights

  • Total revenues and other income: $70,055 million for Q2 2026.
  • Net income attributable to Chevron: $12,072 million for Q2 2026 (diluted EPS $6.11).
  • Adjusted earnings (non‑GAAP): $11,977 million for Q2 2026 (adjusted diluted EPS $6.06).
  • Cash flow from operations (CFFO): $22,633 million for Q2 2026; CFFO excluding working capital: $19,688 million.
  • Free cash flow: $18,095 million for Q2 2026; adjusted free cash flow: $15,433 million.

Business Highlights

  • Production: Net oil-equivalent production totaled 4,070 MBOED for Q2 2026, up 20% year-over-year, driven by the Hess acquisition and growth in the Permian Basin and Gulf of America.
  • U.S. upstream: Record U.S. quarterly production with U.S. net production of 2,077 MBOED and liquids production of 1,491 MBD in Q2 2026.
  • Refining: U.S. refinery crude unit throughput reached a record 1.07 million barrels per day with crude unit utilization above 97%.
  • Strategic deals and dispositions: Signed a 20-year power agreement to supply ~2.67 GW of behind-the-meter capacity to a Microsoft data center in West Texas; completed sale of Hong Kong fuels and lubricants businesses; agreement to sell interest in Singapore Refining Company and other Asia-Pacific downstream assets (expected close 2027).
  • Cost and synergy progress: Achieved $3.0 billion of annual run-rate structural cost reductions and $1.5 billion of annual run-rate synergies related to the Hess acquisition ahead of schedule.

Original SEC Filing:

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