Chevron (CVX) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Chevron reported a revenue of $44.82 billion for the quarter ended June 2025, reflecting a 12.4% decrease year-over-year and a surprise of -4.89% compared to the Zacks Consensus Estimate of $47.12 billion [1] - The earnings per share (EPS) for the quarter was $1.77, down from $2.55 in the same quarter last year, with an EPS surprise of +4.12% against the consensus estimate of $1.70 [1] Financial Performance - Chevron's total net oil-equivalent production reached 3,396 million barrels, exceeding the average analyst estimate of 3,325.97 million barrels [4] - U.S. upstream net oil-equivalent production per day was 1,695 million barrels, surpassing the four-analyst average estimate of 1,675.02 million barrels [4] - International upstream net oil-equivalent production per day was 1,701 million barrels, exceeding the four-analyst average estimate of 1,651.44 million barrels [4] - U.S. upstream net natural gas production per day was 2,864 Mcf/D, slightly above the three-analyst average estimate of 2,826.53 Mcf/D [4] - Worldwide net natural gas production per day was 7,963 Mcf/D, exceeding the three-analyst average estimate of 7,851.63 Mcf/D [4] - Worldwide net crude oil and natural gas liquids production per day was 2,068 million barrels, surpassing the three-analyst average estimate of 2,024.02 million barrels [4] Revenue Breakdown - Other income reported was -$89 million, significantly lower than the estimated $182.25 million, representing a -122.2% change year-over-year [4] - Income from equity affiliates was $536 million, slightly above the estimated $526.15 million, but down -55.6% compared to the year-ago quarter [4] - Sales and other operating revenues totaled $44.38 billion, compared to the average estimate of $44.6 billion, reflecting a -10.5% year-over-year change [4] Stock Performance - Chevron's shares returned -0.2% over the past month, while the Zacks S&P 500 composite increased by +1.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]