Chevron (CVX) Reports Q1 EPS Beat

Chevron Corporation (NYSE:CVX) is one of the 10 Must-Buy Stocks with the Strongest 1Q2026 Earnings Beats.

On May 1, 2026, Chevron Corporation (NYSE:CVX) reported Q1 adjusted EPS of $1.41 versus a 97c consensus and revenue of $48.61B compared to $52.7B expected. CEO Mike Wirth said results showed “solid” performance despite geopolitical volatility, pointing to strong U.S. operations following the Hess integration and higher production from the Gulf of America and Permian Basin.

The company said it continues to focus on capital discipline, cash flow generation, and shareholder returns, while maintaining strong portfolio performance and high utilization across operations. Chevron noted progress in Venezuela through an asset swap with PDVSA, increasing its position in the Orinoco and its stake in Petroindependencia to 49%, with the region contributing about 1% to 2% of operating cash flow. The company also said the Middle East conflict had a “limited impact” on production, with less than 5% of its portfolio in the region, while operations at Tamar and Leviathan ran at full capacity.

Chevron (CVX) Reports Q1 EPS Beat

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Chevron expects 2026 production to grow 7% to 10% and capital spending of $18B to $19B, with guidance unchanged. The company said it remains on track to deliver $3B to $4B in structural cost reductions by year-end and continues to target growth in free cash flow and earnings per share alongside improved returns.

Chevron Corporation (NYSE:CVX) operates an integrated energy and chemicals business across upstream and downstream segments globally.

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