Chevron Corporation (CVX) Earnings Call Transcripts
Chevron Corporation's Latest Earnings Call - Q3 FY2026
In the third quarter of 2026, Chevron Corporation reported earnings of $9.9 billion or $5.06 per share, with adjusted earnings of $10.4 billion or $5.28 per share. The company generated cash flow from operations of $16.6 billion, reflecting strong operational performance despite a decrease in upstream earnings due to lower realizations. Management maintained its capital expenditure guidance, indicating a disciplined approach to investment while highlighting significant operational achievements and future growth opportunities, particularly in Venezuela and through AI-driven efficiencies.
Reported metrics
| Metric | Value |
|---|---|
| Earnings | $9.9 billion (null) |
| Adjusted Earnings | $10.4 billion (null) |
| Cash Flow from Operations | $16.6 billion (null) |
| Organic CapEx | $3.9 billion (null) |
| Debt Reduction | $3 billion (null) |
| Production | 4 million barrels of oil equivalent per day (null) |
Guidance from management
Chevron expects fourth quarter CapEx to increase while still finishing the year at the low end of its annual CapEx guidance. The company is focused on maintaining strong financial priorities and capital cost discipline.
What management said
Thank you, Katie. Welcome to Chevron's Third Quarter 2026 Earnings Conference Call and Webcast. I'm Jeanine Wai, Head of Investor Relations; our Chairman and CEO, Mike Wirth; Vice Chairman, Mark Nelson; and CFO, Eimear Bonner, are all 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 contains ...
Okay. Thank you, Eimear. That concludes our prepared remarks. Additional guidance can be found in the appendix of this presentation as well as on the slides and other information posted on chevron.com. We're now ready to take your questions. We ask that you please limit yourself to 1 question, and we'll do our best to get all of your questions answered. Katie, please open the line.
What analysts pressed on
Analysts expressed concerns about the potential impact of rising freight rates on refining profitability and the overall financial implications of ongoing geopolitical conflicts. There were also inquiries about the pace of production growth in the Permian and how it aligns with Chevron's long-term strategy.
Main topics on the call
- Operational Performance — Chevron achieved nearly 4 million barrels of oil equivalent per day in production, marking sustained operational performance across its portfolio. CEO Mike Wirth stated, "Chevron delivered another quarter of outstanding ...
- Venezuela Development — Chevron announced plans to double production from its joint ventures in Venezuela to approximately 600,000 barrels per day by 2031. Wirth emphasized that "Venezuela is now more competitive within our portfolio and immedi...
- AI Implementation — Chevron is leveraging AI to improve operational efficiencies and exploration outcomes, capturing over $100 million in value this year alone. Eimear Bonner noted, "AI is changing what we see subsurface and how quickly we ...
- Refining Margins — The company reported record crude throughput in its refining system, with a focus on increasing distillate yields by over 10% at major refineries. Mark Nelson stated, "We have pure leading complexity, and we're deploying...
Read the full Chevron Corporation transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Chevron Corporation
Chevron Corporation (CVX) is a publicly listed company in the Oil, Gas and Consumable Fuels industry, within the Energy sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 51 calls on record spanning January 31, 2020 to October 30, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 51 Chevron Corporation earnings call transcripts on record, spanning January 31, 2020 to October 30, 2026. Based on this history, Chevron Corporation reports quarterly. The most recent call on file is dated October 30, 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
- 51
- First call
- January 31, 2020
- Most recent
- October 30, 2026
- Reporting cadence
- quarterly