CVX · 10-Q · 2026Q2

CHEVRON CORP

Filed 2026-08-06 · Energy · View original filing on EDGAR

Ranked Events

• Acquisitions and DivestituresImportance 71 · Surprise 60
  Chevron completed its acquisition of Hess Corporation in July 2025, and the transaction increased 2026 production and operating expenses through the addition of Hess assets. During the second quarter of 2026, Chevron…
• Operating Cash Flow TrendsImportance 69 · Surprise 64
  Cash provided by operating activities increased to $25.1 billion in the first six months of 2026 from $13.8 billion in the year-ago period. The improvement primarily reflected higher commodity prices and increased cash…
• Capital ExpendituresImportance 68 · Surprise 58
  Chevron’s capital expenditures reached $8.601 billion in the first six months of 2026, up $962 million, or approximately 12.6%, from $7.639 billion in the prior-year period. The increase primarily reflected spending…
• Upstream Production VolumeImportance 62 · Surprise 58
  Worldwide net oil-equivalent production averaged 3.97 million barrels per day during the first six months of 2026, up 18% from 3.37 million barrels per day in the prior-year period. U.S. production increased 23% to…
• Revenue Performance and MixImportance 62 · Surprise 46
  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…
• Capital Return ProgramImportance 60 · Surprise 24
  Chevron repurchased 16.2 million shares for $3.0 billion in the second quarter of 2026 under its $75 billion 2023 authorization. Cumulative repurchases under the program reached 281 million shares for $44.0 billion as…
• Liquidity and Debt PositionImportance 57 · Surprise 38
  Cash, cash equivalents and marketable securities totaled $8.5 billion at June 30, 2026, up from $6.3 billion at December 31, 2025. Total debt and finance-lease liabilities declined to $37.1 billion from $40.8 billion,…
• Income Tax Rate ChangesImportance 52 · Surprise 46
  Second-quarter income-tax expense increased $2.8 billion to $4.470 billion, primarily because pretax income increased $12.5 billion. U.S. income-tax expense rose $1.1 billion to $1.4 billion as U.S. pretax income…
• Headcount / RestructuringImportance 52 · Surprise 42
  Chevron achieved its previously announced $3 billion to $4 billion structural cost-reduction target six months early during the second quarter of 2026. The company captured $3 billion in annual run-rate savings by…
• Capital Return Program (Dividend)Importance 49 · Surprise 6
  Chevron paid $7.0 billion in dividends to common stockholders during the first six months of 2026. In July 2026, the company declared a quarterly dividend of $1.78 per common share payable in September 2026. Management…
• Upstream Market Demand TrendsImportance 47 · Surprise 48
  Upstream prices remain closely tied to global demand for crude oil, natural gas and natural gas liquids, as well as industry production and inventory levels. Brent averaged $92 per barrel in the first six months of…
• Oil and Gas Price SensitivityImportance 47 · Surprise 48
  Brent crude averaged $92 per barrel in the first six months of 2026 versus $72 per barrel in the first six months of 2025, while WTI averaged $83 versus $68. Chevron estimates that each $1-per-barrel change in Brent…
• Timing EffectsImportance 36 · Surprise 42
  First-quarter 2026 earnings were reduced by $2.9 billion from timing effects related to higher commodity prices in March 2026. Second-quarter 2026 results included $1.5 billion of favorable timing effects as commodity…
• Refining Margin TrendsImportance 32 · Surprise 24
  U.S. Downstream earnings increased $2.0 billion year over year in the second quarter, primarily from a $1.7 billion increase in refined-product margins and a $290 million increase in earnings from 50%-owned CPChem.…
• Operating Expense TrendsImportance 30 · Surprise 40
  Operating, selling, general and administrative expenses increased to $8.765 billion in the second quarter of 2026 from $7.563 billion and to $17.507 billion for the first six months from $15.192 billion. The increases…
• ESG and sustainabilityImportance 23 · Surprise 24
  Chevron is incorporating climate-related policies, regulations, technology, customer preferences and energy-price forecasts into strategy, capital investment reviews and risk management. The company continues…
• Affiliate Capital ExpendituresImportance 9 · Surprise 6
  Affiliate capital expenditures declined by $372 million in the first six months of 2026 compared with the prior-year period. The decrease primarily resulted from lower spending at CPChem and TCO. Affiliate capex…

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Revenue by Geography (in Millions)