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Chevron Corp (DE:CHV)
XETRA:CHV
Earnings Data
Report Date
Apr 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.26Last Year’s EPS
1.85Same Quarter Last Year
Moderate Buy
Based on 20 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive outlook: Chevron reported record production, strong free cash flow growth (adjusted FCF up over 35% excl. asset sales), meaningful cost savings (delivering $1.5B in 2025 and targeting $3–4B in 2026), and clear growth drivers across the Permian, TCO, Guyana, and the Eastern Mediterranean. Operational hiccups (notably a temporary TCO power issue and CPC loading constraints) and cyclical weaknesses in chemicals and some downstream volumes introduced short-term headwinds, and lower oil prices reduced upstream earnings. Overall, the highlights (record volumes, robust cash generation, disciplined capital allocation, dividend increase, and sustained cost-out momentum) substantially outweigh the lowlights.Company Guidance
Record Production and Portfolio Strength
Production reached record global levels in 2025 and Chevron achieved its highest full-year US production in company history. Permian production surpassed 1,000,000 barrels of oil equivalent per day and multiple project start-ups (Valleymore, Whale, Anchor) and Tengiz's Future Growth Project (~260,000 b/d) support advancing toward additional growth targets.
Strong Free Cash Flow and Cash Returns
Adjusted free cash flow for the year was $20.0 billion; excluding asset sales, adjusted free cash flow grew over 35% year-over-year despite oil prices declining nearly 15%. Chevron returned a record cash to shareholders for the fourth consecutive year and repurchased ~$3.0 billion of shares in Q4 (annual buybacks plus discounted Hess shares and repurchases exceeded $14.0 billion).
Robust Balance Sheet and Capital Discipline
Balance sheet remains strong with a net debt coverage ratio of 1x; organic CapEx for Q4 was $5.1 billion and full-year organic CapEx was in line with guidance. Management reiterated capital discipline and a dividend and CapEx breakeven below $50 Brent.
Cost Reduction Program Delivering Results
Structural cost reduction program delivered $1.5 billion in 2025 with a >$2.0 billion annual run rate captured by year-end. Chevron increased its 2026 target to $3.0–$4.0 billion of sustainable savings (with more than 60% from durable efficiency gains).
Eastern Mediterranean Growth and LNG Upside
Leviathan reached FID on an expansion that will bring gross capacity to roughly 2.1 billion cubic feet per day by the end of the decade; Tamar optimization increases gross capacity to ~1.6 BCF/day. Near-term expansions (Tamar and Leviathan) plus FEED work on Aphrodite and Cyprus expected to materially increase regional gas volumes and double related earnings and free cash flow by 2030.
Venezuela Production Recovery and Opportunity
Since 2022, Chevron and partners increased production in Venezuelan ventures by over 200,000 barrels per day via a venture-funded model. Management noted potential to grow production by up to 50% over the next 18–24 months subject to approvals and fiscal clarity; Venezuelan crude is being delivered into Chevron's refining system.
Operational Momentum and Project Start-ups Driving Volumes
Recent and upcoming project start-ups in Guyana, the Gulf of America, and the Eastern Mediterranean are expected to increase offshore production by approximately 200,000 barrels of oil equivalent per day. TCO is expected to contribute ~30,000 boe/d growth in 2026 as maintenance schedules are optimized.
Technical Improvements in Shale and Chemical Recovery
Permian and shale productivity improvements have materially increased capital efficiency (drilling rig efficiency more than doubled since 2022). Proprietary chemical treatments have shown ~20% improvement in 10-month cumulative recovery on new wells and provided 5–8% uplift in treated existing wells; management anticipates at least ~10% full-life recovery uplift for treated wells.
DE:CHV 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
DE:CHV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 30, 2026 | €144.66 | €147.10 | +1.69% |
Oct 31, 2025 | €132.51 | €134.94 | +1.84% |
Aug 01, 2025 | €129.95 | €127.44 | -1.93% |
May 02, 2025 | €116.44 | €116.94 | +0.43% |
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 (DE:CHV) report earnings?
Chevron Corp (DE:CHV) is schdueled to report earning on Apr 24, 2026, Before Open (Confirmed).
What is Chevron Corp (DE:CHV) earnings time?
Chevron Corp (DE:CHV) earnings time is at Apr 24, 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 the P/E ratio of Chevron Corp stock?
The P/E ratio of Chevron is N/A.
What is DE:CHV EPS forecast?
DE:CHV EPS forecast for the fiscal quarter 2026 (Q1) is 1.26.
