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Chevron Q3 2026 results: financial summary

Chevron earned $9.92bn in Q3 2026 ($10.4bn adjusted) as US refining hit record runs and net debt fell to $20.7bn. Profit, cash, returns and segments, from the company’s own results.

By Entelera Research

Summary

Chevron reported third-quarter 2026 earnings of $9.92bn, or $5.06 a share, on 30 October 2026. That was 18% lower than the $12.07bn of Q2 2026 but almost three times the $3.54bn of Q3 2025. Adjusted earnings were $10.36bn ($5.28 a share), against $11.98bn in Q2 2026 and $3.63bn a year earlier.

Key numberQ3 2026Change
Earnings (reported)$9.92bn-18% vs Q2 2026; +180% vs Q3 2025
Adjusted earnings$10.36bn-13% vs Q2 2026; +186% vs Q3 2025
Cash flow from operations$16.0bn$22.6bn in Q2 2026
Net debt ratio, 30 September 20269.6%15.6% at the end of 2025
Source: Chevron Q3 2026 results release.

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Key findings

  • Reported earnings of $9.92bn in Q3 2026, down 18% on Q2 2026 but almost triple Q3 2025.
  • Adjusted earnings of $10.36bn; timing effects cut earnings by $1.58bn.
  • US downstream earnings rose to $3.59bn as US refineries ran a record 1.09mmbbl/d.
  • Net debt cut by $7.8bn in the quarter to $20.7bn; net debt ratio 9.6%.
  • $3.48bn of dividends and $2.50bn of buybacks; dividend of $1.78 a share.

Sample chart

Bar chart of Chevron earnings: reported $3.5bn in Q3 2025, $12.1bn in Q2 2026 and $9.9bn in Q3 2026; adjusted $3.6bn, $12.0bn and $10.4bn
Chevron’s Q3 2026 earnings fell from a strong Q2 2026 but were almost three times Q3 2025. Source: Chevron Q3 2026 results release.

Table of contents

  1. Headline numbers vs the prior quarter and the prior year
  2. Profit: reported and adjusted
  3. Revenue and operating cash flow
  4. Capex, net debt and gearing
  5. Buybacks and dividends
  6. Segment results
  7. Production and throughput
  8. Guidance and outlook
  9. What it means
  10. Notes on the numbers and sources

Methodology

Built only from Chevron’s own published results documents for the period (results release, financial statements or stock-exchange filing) listed in the Sources section. No broker, consensus or paywalled data. Changes are Entelera calculations from the published figures. Non-US-dollar amounts are converted at the rate stated in the notes.

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