CVX · 10-Q · 2026Q2 · Full report
Revenue Performance and Mix
CHEVRON CORP · 2026-08-06 · Importance 62 · Surprise 46 · Contradicted
Sales and other operating revenues increased 51% year over year to $67.2 billion in the second quarter of 2026 from $44.4 billion, driven by higher refined-product and crude-oil prices and higher crude-oil sales volumes, partly offset by lower refined-product volumes. Six-month revenue increased 27% to $114.8 billion from $90.5 billion. Net income attributable to Chevron rose to $12.1 billion, or $6.11 per diluted share, in the second quarter from $2.5 billion, or $1.45 per share, while six-month net income increased to $14.3 billion from $6.0 billion. Upstream segment earnings increased to $8.2 billion from $2.7 billion, and Downstream earnings increased to $4.9 billion from $737 million, reflecting higher upstream realizations and volumes and stronger refined-product margins.
Key facts
- Sales and other operating revenues increased $22.8 billion for the second quarter mainly due to higher refined product and crude oil prices and higher crude oil sales volumes. source
- Net income attributable to Chevron Corporation for second quarter 2026: $12.1 billion ($6.11 per share — diluted). source
- Net income attributable to Chevron Corporation for the first six months of 2026: $14.3 billion ($7.21 per share — diluted). source
- Sales and other operating revenues for the three months ended June 30, 2026: $67,199 million, and for the three months ended June 30, 2025: $44,375 million. source
- Purchased crude oil and products for the three months ended June 30, 2026: $36,607 million, and for the three months ended June 30, 2025: $26,858 million. source
- Purchased crude oil and products increased $9.7 billion for the second quarter and $9.4 billion for the six-month periods, primarily reflecting the impact of higher crude oil and refined product prices. source
- Six months ended June 30, 2026 sales and other operating revenues - related party: $28,303 million. source
- Six months ended June 30, 2026 net income: $13,275 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +42.1% | Six months ended June 30, 2026 sales and other operating revenues - related party: $28,303 million. |
| revenue | positive | realized | +33.9% | Sales and other operating revenues increased $22.8 billion for the second quarter mainly due to higher refined product and crude oil… |
| net_income | positive | realized | +21.3% | Net income attributable to Chevron Corporation for the first six months of 2026: $14.3 billion ($7.21 per share — diluted). |
| net_income | positive | realized | +19.8% | Six months ended June 30, 2026 net income: $13,275 million. |
| net_income | positive | realized | +18.0% | Net income attributable to Chevron Corporation for second quarter 2026: $12.1 billion ($6.11 per share — diluted). |
| operating_income | negative | realized | -14.5% | Purchased crude oil and products for the three months ended June 30, 2026: $36,607 million, and for the three months ended June 30, 2025:… |
| operating_income | negative | realized | -14.0% | Purchased crude oil and products increased $9.7 billion for the second quarter and $9.4 billion for the six-month periods, primarily… |