Chevron tops profit estimates on record-high oil and gas output

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Chevron beat Wall Street estimates of its Q2 profit as Permian output surged and US and worldwide oil and gas output jumped to record highs.

Chevron Corporation (NYSE: CVX) beat Wall Street estimates of its second-quarter profit as Permian production surged and U.S. and worldwide oil and gas output jumped to record highs. So how does Chevron tops profit?

Chevron reported on Friday adjusted earnings of $3.1 billion, or $1.77 per share, for the second quarter of 2025, compared to adjusted earnings of $4.7 billion, or $2.55 per share, for the same period last year.

The decline was the result of lower realizations due to lower crude oil prices, lower income from upstream and downstream equity affiliates, and an unfavorable fair value adjustment for shares of Hess Corp, Chevron said.

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Source: Oil Price

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