Chevron Corp (CVX)
NYSE:CVX
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Earnings Data
Report Date
Jul 31, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
4.53Last Year’s EPS
1.77Same Quarter Last Year
Strong Buy
Based on 23 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution, robust cash generation, notable production growth (+~500k boe/d YoY) and integration benefits (equity crude throughput rising to ~40% in 2Q), while acknowledging material near-term headwinds including ~$3 billion of timing effects, a $360 million legal reserve, FX impacts (~$223 million), and working capital pressures. Management reaffirmed capital discipline, unchanged 2026 guidance, confirmed buybacks and dividend growth, and highlighted medium/long-term targets and options (Venezuela, LNG, Eastern Med). Given the breadth of positive operational and financial items and clear plans to manage volatility and return capital—despite several significant one-time and timing-related negatives—the overall tone is constructive.Company Guidance
Solid Adjusted Earnings and Reported EPS
Reported earnings of $2.2 billion ($1.11 per share) and adjusted earnings of $2.8 billion ($1.41 per share) for 1Q26, demonstrating underlying profitability after adjustments.
Strong Cash Generation and Free Cash Flow
Cash flow from operations (excl. working capital) of $7.1 billion and adjusted free cash flow of $4.1 billion in the quarter (includes a $1 billion loan repayment from TCO).
Production Growth and High U.S. Output
Oil-equivalent production increased by approximately 500 thousand barrels per day year-over-year; U.S. production running over 2.0 million boe/d with Permian above 1.0 million boe/d and TCO producing above 1.0 million boe/d.
LNG and Upstream Operational Strength
Gorgon and Wheatstone LNG running at full rates; LNG portfolio ~16 Mtpa with plans to grow to ~20 Mtpa by 2030; upstream fundamentals described as strong with peer-leading cash margins.
Record Refinery Throughput and Integration Benefits
U.S. refineries operating at record crude throughput; global enterprise optimization and increased equity crude throughput (expected to more than double year-over-year to ~40% equity crude in 2Q) captured integration upside across upstream/downstream and helped maximize margins.
Capital Discipline Maintained and Buybacks Executed
Organic CapEx of $3.9 billion in the quarter (full-year budget $18–19 billion reaffirmed); share repurchases of $2.5 billion in 1Q26 consistent with the $2.5–3.0 billion quarterly buyback range.
Guidance and Longer-Term Targets Reaffirmed
2026 guidance unchanged; reconfirmed 7–10% production growth for the year; on track to deliver $3–4 billion structural cost reductions by year-end; 2030 targets include >10% growth in adjusted FCF and EPS and ~3% ROCE improvement at $70 Brent.
Improving Venezuela Cash Recovery and Affiliate Momentum
Venezuela expected to represent ~1–2% of cash flow from operations while receivable recovery continues (management expects outstanding receivables to be much lower by year-end and largely paid off by 2027); equity affiliate distributions guidance increased (management cited >$2 billion more relative to 1Q) and TCO moved to monthly dividends.
CVX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CVX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 01, 2026 | $193.31 | $190.63 | -1.39% |
Jan 30, 2026 | $169.53 | $175.19 | +3.34% |
Oct 31, 2025 | $150.35 | $154.47 | +2.74% |
Aug 01, 2025 | $146.88 | $146.64 | -0.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Chevron Corp (CVX) report earnings?
Chevron Corp (CVX) is schdueled to report earning on Jul 31, 2026, Before Open (Confirmed).
What is Chevron Corp (CVX) earnings time?
Chevron Corp (CVX) earnings time is at Jul 31, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVX EPS forecast?
CVX EPS forecast for the fiscal quarter 2026 (Q2) is 4.53.
