AI-extracted from the 10-Q filed 2026-08-06 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue rose to $67.2B (up $22.8B YoY) and earnings jumped to $12.1B ($6.11 diluted) from $2.5B, on higher liquids realizations, Hess volumes and refining margins.
Biggest Revenue Drivers
International Downstream$24,923M
Earnings up $2.1B on higher margins on refined product sales, including favorable timing effects and a $230M asset sale gain
U.S. Downstream$24,723M
Earnings up $2.0B on higher refined product margins of $1.7B and $290M higher CPChem affiliate earnings
Biggest Revenue Drivers
Total revenue: $67.2B+$22.8B YoY
International Downstream$24,923M
Earnings up $2.1B on higher margins on refined product sales, including favorable timing effects and a $230M asset sale gain
U.S. Downstream$24,723M
Earnings up $2.0B on higher refined product margins of $1.7B and $290M higher CPChem affiliate earnings
International Upstream$11,868M
Production up 292,000 barrels per day, or 17 percent, primarily due to the acquisition of Hess
U.S. Upstream$5,660M
Record quarterly production, up 382,000 barrels per day, or 23 percent, on Hess, Permian Basin and Gulf of America growth
Largest Expense Items
Purchased crude oil and products$36.6B+$9.7B YoY
Primarily reflecting the impact of higher crude oil and refined product prices
Operating, selling, general and administrative expenses$8,765M
Increased primarily due to the acquisition of Hess and higher transportation costs, partially offset by lower employee expenses
Depreciation, depletion and amortization$6,082M
Increased primarily due to higher production, including from legacy Hess assets, and higher rates
Income tax expense$4,470M+$2.8B YoY
Effective tax rate fell from 39 percent to 27 percent on jurisdictional mix effects
Margins: Downstream earnings rose to $4.9B from $737M mainly on higher margins on refined product sales. Second quarter results included $1.5 billion of favorable timing effects as commodity prices declined in June 2026.
Watch Items from the Filing
A Louisiana jury awarded Plaquemines Parish $744.6 million against Chevron entities; the company has accrued only $131 million and plans to appeal.
Chevron entities are codefendants in 34 climate lawsuits; the company is unable to estimate any range of possible liability.
Middle East conflict cut international refinery crude unit inputs 63,000 bpd (-10%) and refined product sales 186,000 bpd (-13%), plus Partitioned Zone curtailments.
U.S. natural gas realization fell to $0.91/MCF from $1.75/MCF, costing $200 million; U.S. gasoline sales fell to 660 MBD from 712 MBD.
Structural cost reduction target hit six months early with $3 billion annual run-rate savings; free cash flow of $16.5B funded $7.0B dividends and $5.6B buybacks.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Austin Wanda MDirectorGrant or award · May 27, 2026
Frank JohnDirectorGrant or award · May 27, 2026
Congress trading in CVX
111 transactions in CVX reported by 44 members of Congress under the STOCK Act, most recent trade Sep 2, 2026. Reported transactions, not recommendations.
About CHEVRON CORP (CVX): stock profile, AI score and financials
CHEVRON CORP (CVX) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores CVX at 63.7/100 on a composite quality score built from its SEC filings, placing it at rank #590 of 2,925 stocks — the top 25% of the AI-ranked universe. CVX scores in the top quartile across revenue scale (99.4). Areas of concern include revenue growth (36.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), CHEVRON CORP reports quarterly revenue of $70.1B, net income of $12.1B, an operating margin of 23.8%. Top institutional holders of CVX by reported 13-F value include BlackRock, STATE STREET, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. CVX trades on the NYSE exchange and files with the SEC under CIK 93410. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CVX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CHEVRON CORP directly from SEC EDGAR.