Aug. 1 at 3:07 PM
Chevron Stock Rises After Earnings, But Challenges Persist
Chevron reported Q2 adjusted EPS of
$1.77, beating estimates (
$1.73) but down from
$2.55 last year. Revenue topped expectations at
$44.82B vs.
$43.87B. Production hit record highs, with Permian output exceeding 1M barrels/day, boosting 2026 free cash flow targets by
$2.5B.
Shares gained just 0.4% as weak oil prices weigh on earnings. Buybacks slowed to
$2.6B from
$3.9B in Q1, though the company remains on track to repurchase
$10–$ 20B this year.
Chevron closed its long-delayed acquisition of Hess after winning arbitration against ExxonMobil over Guyana assets. The Guyana project fills a critical growth gap, expected to deliver substantial oil production through the decade. The company also got approval to resume Venezuela operations.
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