What was Chevron's revenue in Q1 2026?

Chevron's revenue was $12.5 billion in Q1 2026, up 8% year-over-year.

Did Chevron beat earnings estimates?

No, Chevron missed estimates with EPS of $2.45 versus the expected $2.60.

What drove Chevron's revenue growth?

Revenue growth was driven by a 5% increase in oil and gas production, particularly from the Permian Basin.

How did costs affect Chevron's earnings?

Rising operating and transportation costs negatively impacted earnings, along with lower natural gas prices.

What is Chevron's future guidance?

Chevron did not provide specific numerical guidance but expects stable production and a focus on LNG projects.

Chevron Q1 2026 Earnings Miss Estimates Despite Revenue Growth

Chevron Corporation (NYSE: CVX) reported Q1 2026 earnings that missed analyst estimates, while revenue increased thanks to higher production. The company posted revenue of $12.5 billion and EPS of $2.45.

Chevron Corporation (NYSE: CVX) reported first-quarter 2026 earnings that fell short of analyst expectations, while revenue rose on the back of increased production. The company posted revenue of $12.5 billion and earnings per share of $2.45, compared to the consensus estimate of $2.60. Chevron's stock saw little movement in after-hours trading.

Key Financial Results

Metric	Q1 2026	YoY Change
Revenue	$12.5B	+8%
Net Income	$5.2B	-3%
EPS	$2.45	-4%

Highlights from the Report

Chevron attributed the revenue growth to a 5% year-over-year increase in oil and gas production, driven by its Permian Basin operations. However, rising operating and transportation costs weighed on earnings. Lower natural gas prices also pressured margins.

Guidance

Chevron did not provide specific numerical guidance for the next quarter but reiterated its commitment to cost reduction and operational efficiency. The company expects production to remain stable, with a focus on LNG projects.

Stock Impact

Chevron's stock remained relatively unchanged following the announcement, trading near previous levels. The results are seen as mixed, with positive revenue growth offset by declining earnings.

What This Means for Investors

Chevron's results highlight challenges in the energy sector, where rising costs may limit earnings growth even as production increases. Investors should monitor the company's ability to control costs and improve margins in coming quarters.