Chevron said net income attributable to Chevron Corporation for Q3 2025 was $3.5 billion ($1.82 per share — diluted), compared with $4.5 billion ($2.48 per share — diluted) in Q3 2024, and net income for the 9 months was $9.5 billion ($5.27 per share — diluted), down from $14.4 billion ($7.88 per share — diluted).

1. 01

   Chevron said net income attributable to Chevron Corporation for Q3 2025 was $3.5 billion ($1.82 per share — diluted), compared with $4.5 billion ($2.48 per share — diluted) in Q3 2024, and net income for the 9 months was $9.5 billion ($5.27 per share — diluted), down from $14.4 billion ($7.88 per share — diluted).

2. 02

   The company cited lower liquids realizations and lower affiliate earnings as factors for Q3 Upstream earnings of $3.3 billion, compared with $4.6 billion in Q3 2024, and said Downstream earnings were $1.1 billion, up from $595 million.

3. 03

   Chevron said it assumed $10.0 billion of debt and finance lease liabilities as part of the Hess acquisition in Q3 2025. Total debt and finance lease liabilities increased to $41.5 billion as of September 30, 2025 from $24.5 billion as of December 31, 2024.

4. 04

   The company said cash provided by operating activities for the 9 months of 2025 was $23.2 billion (compared with $22.8 billion in the year-ago period), capital expenditures totaled $12.1 billion, and dividends paid to common stockholders were $9.3 billion. In Q3, it repurchased 16.6 million shares for $2.6 billion.

Key figures

Quarter ended September 30, 2025

Revenue

$48.2B

Net income

$3.5B

EPS

$1.82

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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