CHEVRON CORP is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: CVX reported Q1 FY2026 revenue of $48.6B (+2.1% YoY), but net income fell sharply to $2.2B (-36.9% YoY) and operating cash flow dropped 51.6% to $2.5B, reflecting significant margin compression despite modest top-line growth.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue increased 2.1% YoY to $48.6B in Q1 FY2026, while cost of revenue declined 1.2% to $28.3B. However, net income collapsed 36.9% to $2.2B, suggesting significant headwinds below the gross profit line, likely from higher D&A charges and other operating costs.
D&A expense jumped 40.9% YoY to $5.8B from $4.1B in the prior year period, a substantial increase that likely reflects the integration of acquired assets (potentially from the Hess acquisition) and is a key driver of the net income decline.
Total assets grew 28.5% YoY to $329.6B, while total liabilities rose 31.9% to $140.2B and stockholders' equity increased 23.1% to $183.7B, indicating a major acquisition or asset consolidation occurred over the past year.
Revenue
$48.61B
++2.09% YoY
EPS (Basic)
$1.12
-44.28% YoY
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