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Chevron CVX Q1 2026 earnings

Reported May 1, 2026 · Before market open

Revenue$48.6BMiss by $3.3B
EPS$1.41Beat by $0.41
Revenue estimate$51.9B
EPS estimate$1.00
“Despite heightened geopolitical volatility and related supply disruptions, Chevron delivered solid first quarter performance, underscoring the resilience of our portfolio and the value of disciplined execution, Strong operating results in the United States, particularly following the integration of Hess, and continued growth in the Gulf of America and Permian Basin, drove higher production while maintaining financial flexibility.
Mike Wirth

Next report

Oct 30, 2026 (In 3 weeks)
Revenue estimate$58.3B
EPS estimate$4.73

Financials

Q1 2026

Income statement

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Revenue$48.6B+2.1%
Gross profit$20.3B+7.1%
Net income$2.2B-36.9%
EPS (diluted)$1.11-44.5%

Balance sheet

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Cash & equivalents$6.3B+2.4%
Total debt$45.4B+53.1%
Total equity$183.72B+23.1%
Total assets$329.55B+28.5%

Cash flow

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Operating cash flow$2.5B-51.6%
CapEx$4.1B+3.5%
Free cash flow-$1.5B-223%

Valuation & ratios

Valuation

as of 03/31/26
See full
Market cap$409.91B+39.2%
Enterprise value$449.03B+41.2%
P/E37.2×+18.4×
P/S2.2×+0.7×

Profitability

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Gross margin43.2%+2.8pp
Net margin5.8%-2.0pp
FCF margin7.3%+0.5pp

Returns & leverage

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Return on equity6.6%-3.5pp
Debt / equity0.2×0.0×
Current ratio1.1×0.0×

Segments

By segment

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All Other$129.0M-67.6%

By geography

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Int’l.$30.5B+12.0%

FAQ

When did Chevron report Q1 2026 earnings?
Chevron (CVX) reported Q1 2026 earnings on May 1, 2026 before market open.
What were Chevron's Q1 2026 revenue and EPS?
Chevron reported revenue of $48.6B and eps of $1.41 for Q1 2026.
Did Chevron beat estimates in Q1 2026?
Revenue missed the consensus estimate of $51.9B by $3.3B. EPS beat the consensus estimate of $1.00 by $0.41.
How did Chevron's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.1% from $47.6B a year earlier and eps declined 35.3% from $2.18.
Where can I find Chevron's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000093410-26-000110) and the 10-Q periodic report (0000093410-26-000113) directly on SEC EDGAR. The filing index links above go to sec.gov.