Chevron reports Q2 adjusted EPS $1.77, consensus $1.75

Reports Q2 revenue $44.82B, consensus $45.59B. “Second quarter results reflect continued strong execution, record production, and exceptional cash generation,” said Mike Wirth, Chevron’s (CVX) chairman and chief executive officer. “Permian Basin production increased to 1 million barrels of oil equivalent per day, and U.S. and worldwide production hit new company records. Cash flow from operations, at similar commodity prices, was one of the highest in company history. The completion of the Hess acquisition further strengthens our diversified portfolio and positions us to extend our production and free cash flow growth profile well into the next decade. The addition of Hess’s high-quality assets, including those in Guyana, the U.S. Bakken, and the Gulf of America, creates one of the most advantaged and differentiated portfolios in the industry.”