Chevron Q1 FY26 net income falls 36.86% to $2.2 billion; revenue rises to $47.56 billion

Chevron Corporation

Chevron Corporation

CVX

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  • Chevron posted net income attributable to shareholders of USD 2.2 billion in first-quarter 2026, down 36.86%, with diluted EPS at USD 1.11.
  • Sales and other operating revenues rose to USD 47.56 billion, while downstream swung to a loss of USD 817 million from earnings in the year-ago quarter.
  • Upstream earnings edged up to USD 3.9 billion, with worldwide net oil-equivalent production averaging 3,858 MBOED, up 15%.
  • Earnings were hit by USD 2.9 billion of adverse timing effects tied to higher commodity prices in March 2026, which Chevron expects to unwind in future periods.
  • Chevron completed its Hess acquisition in July 2025, declared a quarterly dividend of USD 1.78 per share payable in June 2026, and guided second-quarter share repurchases at USD 2.5 billion to USD 3 billion.


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