Chevron Provides Guidance on First Quarter 2026 Financial Results

Details

The Company expects timing effects to adversely affect first quarter 2026 earnings and cash flow from operations excluding working capital by approximately $2.7 to $3.7 billion. Working capital is expected to result in a net outflow of approximately $2 to $4 billion. Upstream segment earnings are expected to benefit from higher commodity prices by $1.6 to $2.2 billion compared to fourth quarter 2025. Upstream production is expected to be approximately 3.8 to 3.9 million barrels of oil-equivalent per day. Downstream earnings are expected to include a charge of approximately $350 to $400 million related to a litigation reserve associated with ceased operations. First-quarter weighted average shares outstanding were approximately 1.98 billion.

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About Chevron Corporation

Chevron Corporation is an integrated energy company operating globally in the exploration, production, and transportation of crude oil and natural gas. Its primary function is to harness energy resources, converting them into products essential for modern life. Chevron covers upstream operations such as oil exploration and drilling, and downstream processes including refining, distribution, and marketing of refined petroleum products. Additionally, Chevron invests in renewable energy projects, aiming to create a balanced energy portfolio. As one of the major players in the oil and gas industry, Chevron significantly impacts sectors including manufacturing, transportation, and energy production. Headquartered in San Ramon, California, this multinational corporation plays a pivotal role in meeting global energy demands and contributes to shaping future energy policies.