The company said its reported earnings for Q1 2026 were $2.2 billion ($1.11 per diluted share), lower than $3.5 billion ($2.00 per diluted share) for Q1 2025. Adjusted earnings were $2.8 billion ($1.41 per diluted share), compared with $3.8 billion ($2.18 per diluted share) a year earlier.

1. 01

   The company said its reported earnings for Q1 2026 were $2.2 billion ($1.11 per diluted share), lower than $3.5 billion ($2.00 per diluted share) for Q1 2025. Adjusted earnings were $2.8 billion ($1.41 per diluted share), compared with $3.8 billion ($2.18 per diluted share) a year earlier.

2. 02

   The company cited unfavorable timing effects of about $2.9 billion compared with Q1 2025 as the main reason reported earnings declined. It said these effects include timing mismatches in earnings recognition from marking financial derivatives to market before the physical delivery of the related hydrocarbons, as well as the impact of LIFO inventory accounting. The company said that excluding these unfavorable effects, earnings improved on upstream production growth and higher refining margins.

3. 03

   Chevron said cash flow from operations (CFFO) for Q1 was $2.5 billion, lower than $5.2 billion a year earlier. It cited higher working capital outflows from the sharp rise in commodity prices in March 2026 as the factor. The company also said it returned $6.0 billion to shareholders in the quarter, including share repurchases of $2.5 billion and dividends of $3.5 billion.

4. 04

   Chevron said net oil-equivalent production for Q1 was 3,858 MBOED, up from 3,353 MBOED a year earlier. The company cited the acquisition of Hess and growth in the Gulf of America and the Permian Basin as the reasons, and said these were partly offset by downtime at Tengizchevroil and curtailments in the Middle East.

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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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