Chevron reports Q2 earnings of $12.1B, cuts debt by record $8.4B, signs 20-year Microsoft power deal

Filed July 31, 2026 · Period ending July 31, 2026 · ~1 min read

Key Changes

• high

  Q2 2026 earnings of $12.1B ($6.11/share) vs. $2.5B ($1.45/share) in Q2 2025; U.S. production hit quarterly record, up 382,000 bbl/day YoY driven by Hess acquisition and Permian/Gulf of America growth.

  Item 2.02 verify on EDGAR →
• high

  Reduced total debt by record $8.4B in Q2; debt-to-CFFO improved to 0.8x from 0.9x YoY, net debt-to-CFFO to 0.6x from 0.8x.

  Exhibit 99.1 view on EDGAR →
• high

  Signed 20-year power purchase agreement with Microsoft to provide 2.67 gigawatts of behind-the-meter power for West Texas data center, entering AI infrastructure power market.

  Exhibit 99.1 view on EDGAR →