Chevron reported $9.924 billion in earnings attributable to the company for the third quarter of 2026, compared with $3.539 billion a year earlier. Its 30 October release put diluted earnings per share at $5.06.
Adjusted earnings were $10.361 billion, or $5.28 per diluted share. The company also reported record crude throughput at its US refineries, with crude utilization of 98%.
Results and accounting basis
Q3 2026 | ended 30 September 2026. Amounts are US dollars unless stated otherwise. Primary source observed 2026-10-31T08:57:41.297Z.
| Measure or timetable | Verified figure and basis | Primary evidence |
|---|---|---|
| Q3 reported earnings attributable to Chevron | $9.924bn; Q3 2025: $3.539bn | Chevron official results |
| Q3 adjusted earnings, non-GAAP | $10.361bn | Chevron official results |
| Q3 diluted EPS: reported / adjusted | $5.06 / $5.28 | Chevron official results |
| Q3 cash flow from operations | $16.0bn | Chevron official results |
| US refinery crude utilization | 98% | Chevron official results |
| Venezuela joint-venture investment plan | $7bn over five years; planned, not completed | Chevron official results |
Why adjusted earnings are higher
The quarter included a $160 million legal reserve, $110 million impairment and $24 million of pension-settlement costs. Foreign-currency effects reduced earnings by $143 million. Chevron’s reconciliation identifies the adjustments rather than presenting adjusted earnings as another reported-profit total.
The reported and adjusted per-share amounts use the same quarter but different accounting treatments. Readers should retain those labels when comparing the result with other companies or with earlier Chevron periods.
Separate the quarter from future commitments
Operating cash flow was $16.0 billion. A separate non-GAAP figure excluding working-capital changes was $16.6 billion; it is not the reported cash-flow total. The company also said US upstream production exceeded two million barrels of oil equivalent per day for a fifth consecutive quarter.
Chevron said its Venezuela joint ventures plan to invest $7 billion over five years with the aim of expanding production. That wording describes a plan and an objective, not $7 billion already spent or production growth already delivered.
What to watch
Watch actual investment disclosures and future operating results. Do not infer a stock-price gain from the announcement or describe the planned Venezuela spending as completed.
Primary source record
Chevron Corporation — exact document: https://www.sec.gov/Archives/edgar/data/93410/000009341026000196/a09302026ex9918-k.htm. Observed 2026-10-31T08:57:41.297Z. The issuer’s release is primary evidence for its own results, not independent corroboration.
Additional primary record
Chevron Corporation — https://www.sec.gov/Archives/edgar/data/93410/000009341026000196/cvx-20261030.htm; checked 2026-10-31T09:06:13.082Z. Same issuer earnings announcement formally furnished through its 8-K; not an independent second report. Relevant event/period/filing context only where stated.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.