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Earnings by Segment
Breaks down profit contributions from different business areas, revealing which segments drive growth and profitability, and where strategic shifts might be needed.Upstream remains Chevron’s primary earnings engine but has cooled from the 2022 windfall and now depends more on volume/integration than price spikes; recent uptick suggests operational growth is helping. Downstream has become a volatile swing factor—inventory/timing and mark‑to‑market derivative moves drove the latest negative print, but management expects a partial unwind in Q2 so results could rebound quickly. “Other” is a persistent corporate drag. With guidance and buybacks reaffirmed, monitor the Q2 unwind, legal/FX headwinds, and whether higher equity‑crude throughput sustains margin capture.
Date | Upsteam | Downstream | Other |
|---|---|---|---|
Jun 30, 2026 | $8.18B | $4.87B | -$978.00M |
Mar 31, 2026 | $3.91B | -$817.00M | -$882.00M |
Dec 31, 2025 | $3.04B | $823.00M | -$1.09B |
Sep 30, 2025 | $3.30B | $1.14B | -$900.00M |
Jun 30, 2025 | $2.73B | $737.00M | -$974.00M |
Mar 31, 2025 | $3.76B | $325.00M | -$583.00M |
Dec 31, 2024 | $4.30B | -$248.00M | -$817.00M |
Sep 30, 2024 | $4.59B | $595.00M | -$697.00M |
Jun 30, 2024 | $4.43B | $597.00M | -$633.00M |
Mar 31, 2024 | $5.24B | $783.00M | -$521.00M |