Chevron Corporation announced third-quarter 2026 earnings of $9.9 billion ($5.06 per share), with adjusted earnings reaching $10.4 billion ($5.28 per share). The results were driven by strong operational performance, including record U.S. refinery throughput and sustained high U.S. production levels. The company also highlighted key strategic moves, including planned investments in Venezuela and cost-reduction efforts in the Bakken shale play.
Key Details
- Financial Results: Reported earnings were $9.9 billion, a substantial increase from $3.5 billion in Q3 2025. Cash Flow from Operations (CFFO) for the quarter was $16.0 billion.
- Operational Highlights: U.S. refinery crude utilization reached a record 98%. U.S. upstream production exceeded 2 million barrels of oil equivalent per day for the fifth consecutive quarter.
- Strategic Initiatives & Capital Return: Announced plans for joint ventures to invest $7 billion in Venezuela over five years and reduced total debt by $3.5 billion. The company declared a quarterly dividend of $1.78 per share.