- Reported earnings of $3.5 billion; adjusted earnings of $3.8 billion
- Returned $6.9 billion cash to shareholders; acquired $2.2 billion of Hess shares
- Started production from Ballymore field in the Gulf of America in April
Chevron reported earnings of $3.5?billion ($2.00 per share - diluted) for first quarter 2025, compared with $5.5 billion ($2.97 per share - diluted) in first quarter 2024. Included in the quarter was a net loss of $175 million related to legal reserves and a tax charge due to changes in the energy profits levy in the United Kingdom that were partially offset by the fair value measurement of Hess Corporation shares. Foreign currency effects decreased earnings by $138 million. Adjusted earnings of $3.8 billion ($2.18 per share - diluted) in first quarter 2025 compared to adjusted earnings of $5.4 billion ($2.93 per share - diluted) in first quarter 2024. See Attachment 4 for a reconciliation of adjusted earnings.
Read the full press release with tables.
Source: Chevron
