CVX
Chevron Corporation146.75
-3.05-2.04%
Dec 16, 4:00:50 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details TCO fix, Venezuela upside
Q&A offered granular color on TCO's mechanical power fix and debottlenecking, reaffirming $6B Chevron-share FCF guidance at $70 Brent despite recent downtime. Management unpacked Venezuela's uninterrupted ops at 250k bpd gross, self-funded via ventures with 50% upside potential if stability and fiscal terms improve—yet stressed capital discipline versus global alternatives. Cost savings hit $1.5B run-rate early from the new leaner org, AI, and Permian surfactants yielding 20% recovery lifts; Bakken holds at 200k bpd via efficiencies. Analysts flagged Kazakhstan cuts and ME opps; Chevron demurred on macros but noted improving terms spur Libya/Iraq talks. Discipline trumps volume. Tone stayed confident on cash flow growth; watch TCO ramp and intl signposts.
Key Stats
Market Cap
295.68BP/E (TTM)
20.67Basic EPS (TTM)
7.10Dividend Yield
0.05%Recent Filings
10-K
FY2025 results
Chevron's FY2025 net income fell to $12.3B from $17.7B in 2024, pressured by lower upstream realizations and higher DD&A, yet worldwide oil-equivalent production surged 12% y/y to 3.7MBOED, boosted by Hess acquisition, TCO ramp-up and Permian records. U.S. upstream output jumped 16% to 1.9MBOED, with Permian hitting 1MMBOED; international added 7% to 1.9MBOED via Hess and TCO. Downstream rebounded with higher U.S. refinery utilization at 94.5% and stronger margins. Q4 repurchases totaled $6B under the $75B program ($36.5B remaining); debt rose to $40.8B post-Hess. 2026 production outlook: 7-10% growth. Changing crude prices remain a key risk.
8-K
Q4 earnings $2.8B, production records
Chevron reported Q4 2025 earnings of $2.8 billion, down from $3.2 billion a year ago due to lower oil prices and pension costs, yet boosted full-year production 12% to records via Hess integration and project startups. Cash flow from operations hit $10.8 billion; board hiked quarterly dividend 4% to $1.78/share. Production surged despite headwinds.
8-K
Exec salary hikes approved
Chevron's board approved modest 2026 base salary hikes for top execs effective March 1: CEO Wirth to $1,975,000 (up $75,000), CFO Bonner to $1,100,000 (up $50,000), Nelson to $1,350,000, and Pate to $1,250,000. Target CIP bonuses held flat. Equity awards set February 1: Wirth $23M, others $5-8.5M in PSUs/RSUs. Raises signal steady retention amid energy volatility.
8-K
Chevron appoints Horton to board
Chevron appointed Thomas W. Horton, 64, to its board and Audit Committee on January 27, 2026. A Global Infrastructure Partners partner with past roles leading American Airlines and at AT&T, he gets prorated $155,000 cash retainer and $235,000 RSU award. Adds finance expertise. Board bolsters governance.
8-K
Chevron issues $154M notes
BP
BP p.l.c.
33.76-1.49
IMO
Imperial Oil Limited
85.29-4.58
OMVJF
OMV AG
55.56+0.00
OXY
Occidental Petroleum Corporatio
38.92-1.27
PBR
Petroleo Brasileiro S.A. Petrob
11.79-0.39
PSX
Phillips 66
131.78-9.73
SHEL
Shell PLC
70.46-1.77
SNPMF
China Petroleum & Chemical Corp
0.53+0.00
SU
Suncor Energy Inc.
42.22-1.43
XOM
Exxon Mobil Corporation
114.68-3.08