- Reported earnings of $3.5 billion; adjusted earnings of $3.6 billion
- Record production of 4.1 million BOE per day; 21 percent higher than last year
- Cash flow from operations of $9.4 billion; adjusted free cash flow of $7.0 billion
Chevron reported earnings of $3.5 billion ($1.82 per share - diluted) for third quarter 2025, compared with $4.5 billion ($2.48 per share - diluted) in third quarter 2024. Included in the quarter was a net loss of $235 million due to severance and other transaction costs related to the acquisition of Hess Corporation (Hess), partly offset by the fair value measurement of Hess shares. Foreign currency effects increased earnings by $147 million. Adjusted earnings of $3.6 billion ($1.85 per share - diluted) in third quarter 2025 compared to adjusted earnings of $4.5 billion ($2.51 per share - diluted) in third quarter 2024. See Attachment 4 for a reconciliation of adjusted earnings.
'Third quarter results reflect record production, strong cash generation and sustained superior cash returns to shareholders,' said Mike Wirth, Chevron’s chairman and chief executive officer. U.S. and worldwide production hit new company records, up 27 percent and 21 percent, respectively, from last year. Strong cash flow from operations was sustained while the company's adjusted free cash flow increased more than 50 percent from a year ago. The company returned $6 billion of cash to shareholders in the quarter, and over $78 billion in the last 3 years.
'The integration of Hess is progressing well, unlocking synergies across our operations and positioning Chevron as a premier global energy company,' Wirth concluded. After closing of the Hess transaction, the company’s interest in the Malaysia-Thailand joint development area was -MORE- divested, and other assets are now being integrated into the company’s streamlined organizational structure.
Read the full press release with tables.
Source: Chevron
