Chevron Corporation (CVX) Earnings Call Transcripts

Chevron Corporation's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, Chevron Corporation (CVX:US) reported strong financial results, with earnings of $12.1 billion or $6.11 per share, driven by a 5% increase in global upstream production and significant cost reductions. Revenue was robust, supported by record production levels and improved refining margins, while cash flow from operations reached nearly $20 billion. Management maintained its capital expenditure guidance, expecting to finish the year at the lower end of the $18 billion to $19 billion range, signaling continued financial discipline amidst market volatility.

Reported metrics

Guidance from management

Chevron expects to finish the year at the lower end of its capital expenditure guidance range of $18 billion to $19 billion, maintaining a disciplined approach to capital allocation.

What management said

Thank you, Katie. Welcome to Chevron's Second Quarter 2026 Earnings Conference Call and Webcast. I'm Jeanine Wai, Head of Investor Relations. Our Chairman and CEO, Mike Wirth; CFO, Eimear Bonner; and President, New Energy, Jeff Gustavson, are on the call with me today. We'll refer to the slides and prepared remarks that are available on Chevron's website. Before we begin, please be reminded that this presentation co...

All right. Thank you, Eimear. This concludes our prepared remarks. Additional guidance can be found in the appendix to this presentation as well as on the slides and other information posted on chevron.com. We're now ready to take your questions. [Operator Instructions] Katie, please open the lines.

What analysts pressed on

Analysts expressed concerns about the sustainability of refining margins in a volatile market and the potential impact of geopolitical events on production levels. There were also questions regarding the integration of Hess assets and the long-term growth strategy in the Permian.

Main topics on the call

• Production Growth — Chevron achieved a new upstream production record of nearly 2.1 million barrels of oil equivalent per day, contributing to a 5% quarter-over-quarter growth. Management noted, "Reliable operations defined the quarter," hi...
• Cost Reductions — The company reached its structural cost reduction target of $3 billion six months ahead of schedule, with over 70% of savings attributed to efficiency gains. CFO Eimear Bonner stated, "Costs always matter, and they alway...
• Power Business Expansion — Chevron signed a 20-year power purchase agreement with Microsoft for 2.67 gigawatts of capacity, positioning itself strongly in the growing power market. Jeff Gustavson remarked, "Kilby is expected to deliver mid-teens r...
• Hess Acquisition Synergies — The Hess acquisition has exceeded expectations, with Chevron realizing $1.5 billion in synergies six months early. CEO Mike Wirth noted, "We pulled value forward, capturing 50% more synergies than initially targeted," in...

Read the full Chevron Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 49 Chevron Corporation earnings call transcripts on record, spanning January 31, 2020 to July 31, 2026. Based on this history, Chevron Corporation reports quarterly. The most recent call on file is dated July 31, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CVX

Exchange

NYSE

Country

US

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

49

First call

January 31, 2020

Most recent

July 31, 2026

Reporting cadence

quarterly