Chevron's unaudited second-quarter earnings total $12.1 billion

Chevron said on July 31, 2026 that its unaudited second-quarter 2026 earnings were $12.1 billion, or $6.11 per diluted share. Adjusted earnings were $12 billion, or $6.06 per diluted share. The company said the quarter included an asset sale gain of $230 million and pension settlement costs of $86 million, and that foreign currency effects decreased earnings by $49 million.

Chevron said worldwide production rose 20 percent from a year earlier, largely due to legacy Hess assets and growth in the Permian Basin and Gulf of America. Return on capital employed was 21.4 percent. The company said it reduced total debt by $8.4 billion in the quarter, and U.S. refinery crude unit throughput reached 1.07 million barrels per day.

During the quarter, Chevron signed an agreement to develop a power facility in West Texas designed to provide approximately 2.67 gigawatts of behind-the-meter electricity to a Microsoft data center under a 20-year power purchase agreement.

Chevron said it has achieved $3 billion of annual run-rate structural cost reductions since 2024. The company said its program targets $3 billion to $4 billion of structural cost reductions by the end of 2026. Chevron also said it has delivered $1.5 billion of annual run-rate synergies from the Hess acquisition, exceeding its initial target by 50 percent.

Chevron's board declared a quarterly dividend of $1.78 per share, payable September 10, 2026, to holders of common stock as of the close of business on August 19, 2026. Separately, Chevron signed an agreement to sell its 50 percent interest in the Singapore Refining Company and other downstream assets in Singapore, Vietnam, Australia, Indonesia, the Philippines and Malaysia. The company said that sale is expected to close in 2027.