CVX Chevron (CVX) Q1 FY26 earnings call
Chevron leaned on portfolio breadth and a new enterprise-optimization function to turn Middle East-driven volatility into integration margin, holding every 2026 and 2030 target unchanged despite a March price spike that pushed large non-cash timing effects and a working-capital build through the quarter. The stance is steady-as-she-goes: run assets flat out, keep capital and cost discipline, and preserve optionality in Venezuela, LNG and a Microsoft power project rather than chase growth into an unresolved shock.
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CVX operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Production Permian | 1M boe/d+In the Permian, production averaged more than 1 million barrels of oil equivalent per day, a target we introduced over 5 years ago and achieved right on schedule.Source: earnings call transcript | 1M boe/dAnd as you know, we've got multiple large assets in there, 1 million barrels a day in the Permian, 400 in the DJ, 200 in the Bakken.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.