Chevron Q2 net income surges 385% to $12.1B on Hess acquisition, higher oil prices

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

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  Net income jumped to $12.1B ($6.11/share diluted) from $2.5B ($1.45/share) in Q2 2025, driven by the Hess acquisition (closed July 2025), Brent crude averaging $92/bbl (up from $72/bbl), and downstream margins expanding six-fold to $4.9B.

  MD&A: Net Income & Segment Earnings verify on EDGAR →
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  Production rose 18% to 3.97M boe/d in H1 2026 from 3.37M boe/d in H1 2025, with Hess adding significant Guyana offshore volumes and Permian/Gulf of America growth continuing. Earnings sensitivity to Brent increased 33% to $600M per dollar, reflecting the larger production base.

  MD&A: Production & Price Sensitivity verify on EDGAR →
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  Supreme Court ruled in April 2026 that the Plaquemines Parish coastal-erosion lawsuit (with a $744.6M state-court verdict) qualifies for federal-officer removal and remanded for further proceedings. The verdict remains subject to potential vacatur and re-litigation in federal court.

  Legal Proceedings: Louisiana Coastal Erosion verify on EDGAR →