Chevron Corporation: EPS $5.28 vs $4.87 expected; revenue $67.8B vs $61.8B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 5.28 | 4.87 | +8.4% | 1.85 |
| Revenue (USD bn) | 67.80 | 61.82 | +9.7% | 48.17 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 30, 2026 | Q3 FY2026 | 5.28 | 4.87 | +8.4% | 67.80 | 61.82 | +9.7% |
| Jul 31, 2026 | Q2 FY2026 | 6.06 | 5.55 | +9.2% | 70.06 | 62.72 | +11.7% |
| May 1, 2026 | Q1 FY2026 | 1.41 | 1.00 | +41.0% | 48.61 | 51.86 | −6.3% |
| Jan 30, 2026 | Q4 FY2025 | 1.52 | 1.41 | +7.8% | 46.87 | 46.79 | +0.2% |
| Oct 31, 2025 | Q3 FY2025 | 1.85 | 1.69 | +9.5% | 48.17 | 48.94 | −1.6% |
| Aug 1, 2025 | Q2 FY2025 | 1.77 | 1.73 | +2.3% | 44.38 | 43.87 | +1.2% |
| May 2, 2025 | Q1 FY2025 | 2.18 | 2.16 | +0.9% | 47.61 | 48.25 | −1.3% |
| Jan 31, 2025 | Q4 FY2024 | 2.06 | 2.42 | −14.9% | 52.23 | 46.60 | +12.1% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Chevron Corporation results: EPS $5.28 vs $4.87 expected; revenue $67.8B vs $61.8B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 8.4%; revenue above the estimate by 9.7%.
Revenue was up 40.8% from $48.2 billion a year earlier (Q3 FY2025). EPS was up 185.4% from $1.85 a year earlier. On its record, EPS topped analysts' estimates in 6 of 7 earlier comparable reports.
What the results mean
Chevron Corporation connects oil and gas extraction with refining, marketing and petrochemicals. Reading the results therefore requires examining each activity’s contribution, because revenue growth alone does not explain how profitability is distributed across production, crude processing and product sales.
In upstream operations, profitability is tied to oil and gas prices, production volumes, and development and transportation costs. In refining and marketing, performance depends on the spread between crude costs and the value of products sold, alongside operating efficiency. Liquefied natural gas and chemicals also provide demand channels, with distinct profitability drivers.
What to watch on the earnings call: The earnings call merits attention for management’s explanation of how production, refining and chemicals contribute to profitability, and how energy prices and operating costs affect each activity. Discussion of demand for products and liquefied natural gas, along with development and maintenance spending priorities and their implications for cash generation, would also be useful.
For the full analysis of Chevron Corporation stock — valuation, scores and financial statements — see the stock page linked with this story.