Every material Form 8-K Chevron has filed with the SEC since December 05, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Chevron Corporation reported third quarter 2026 earnings of $9.9 billion, or $5.06 per share, compared with $3.5 billion in the third quarter of 2025. Adjusted earnings came in at $10.4 billion, supported by reliable operations, higher margins on refined product sales, and increased crude oil realizations. The company also declared a quarterly dividend of $1.78 per share and reduced total debt by $3.5 billion during the quarter.
Reported third quarter 2026 earnings of $9.9 billion ($5.06 per share - diluted) compared to $3.5 billion in third quarter 2025.
Adjusted earnings reached $10.4 billion ($5.28 per share - diluted) for the third quarter of 2026.
U.S. refinery crude unit throughput set a new record of 1.09 million barrels per day with crude utilization at 98 percent.
Total debt was reduced by $3.5 billion and a quarterly dividend of $1.78 per share was declared, payable on December 10, 2026.
Chevron agreed to transfer its ownership interests and general partner position in Hess Midstream LP, plus its DJ Basin crude oil midstream assets, in exchange for extended Bakken midstream contracts, new DJ Basin contracts and $200 million in cash. Chevron expects a one-time after-tax loss of approximately $3 to $4 billion at closing, which it expects to treat as a special item, and expects the deal to close by year-end 2026.
At closing, Chevron expects a one-time after-tax loss of approximately $3 to $4 billion, treated as a special item.
Chevron expects to reduce its Bakken unit midstream costs by approximately 50% and to increase return on capital employed.
Chevron receives $200 million in cash and expects to fully deconsolidate Hess Midstream, including about $3.7 billion of its debt.
The deal is expected to close by year-end 2026, subject to customary closing conditions and regulatory approvals.
Chevron's board named Jeff B. Gustavson, currently President of New Energies, as Chief Financial Officer effective January 1, 2027. Eimear P. Bonner, the current CFO, moves to President of Oil, Products & Gas on the same date, and Mark A. Nelson steps back from his Executive Vice President role to remain Vice Chairman focused on Strategy and Business Development. The filing gives no financial results, so the change itself is the main development for shareholders to note.
Jeff B. Gustavson, age 54, joined Chevron in 1999 and becomes CFO effective January 1, 2027
Gustavson's annual base salary is $1,000,000, effective January 1, 2027, with a target bonus of 110% under the Chevron Incentive Plan
Eimear P. Bonner moves from Chief Financial Officer to President, Oil, Products & Gas, effective January 1, 2027
Mark A. Nelson remains Vice Chairman but no longer serves as Executive Vice President, Oil, Products & Gas, effective January 1, 2027
Chevron reported unaudited second quarter 2026 earnings of $12.1 billion, or $6.11 per diluted share, compared with $2.49 billion, or $1.45 per share, a year earlier. Adjusted earnings were $12.0 billion ($6.06 per share), and the company declared a $1.78 quarterly dividend, showing higher profit and continued shareholder payouts.
Second quarter 2026 earnings were $12.1 billion ($6.11 per diluted share), versus $2.49 billion ($1.45 per share) in second quarter 2025.
Adjusted earnings were $12.0 billion ($6.06 per diluted share), after an asset sale gain of $230 million and pension settlement costs of $86 million.
Total debt was reduced by $8.4 billion in the quarter, and net debt fell to $28.5 billion at June 30, 2026 from $34.5 billion at December 31, 2025.
Quarterly dividend of $1.78 per share is payable September 10, 2026, to holders of record at the close of business on August 19, 2026.
Chevron said its Chief Legal Officer, R. Hewitt Pate, notified the board on May 27, 2026 that he will resign effective December 31, 2026, ahead of his expected retirement in June 2027. Pate will stay on as a non-executive senior advisor through retirement to help transition his duties, so the change is planned and gradual.
R. Hewitt Pate resigns as Chief Legal Officer, effective December 31, 2026
Notice to the board was given on May 27, 2026
Expected retirement in June 2027; Pate remains as non-executive senior advisor until then
Chevron reported first quarter 2026 earnings of $2.2 billion ($1.11 per share diluted), down from $3.5 billion ($2.00 per share) a year earlier, while sales and other operating revenues rose to $47.6 billion from $46.1 billion. The company said timing effects of about $2.9 billion and a $360 million net loss tied to a legal reserve weighed on results, and it returned $6.0 billion to shareholders, including a declared quarterly dividend of $1.78 per share.
Earnings were $2.2 billion ($1.11 per share diluted) versus $3.5 billion ($2.00 per share) in Q1 2025; adjusted earnings were $2.8 billion ($1.41 per share) versus $3.8 billion ($2.18 per share).
Net loss of $360 million related to a legal reserve was included in the quarter; foreign currency effects reduced earnings by $223 million.
Cash returned to shareholders totaled $6.0 billion, including $2.5 billion in share repurchases and $3.5 billion in dividends.
Board declared a quarterly dividend of $1.78 per share, payable June 10, 2026, to holders of record at the close of business on May 19, 2026.
On April 9, 2026, Chevron gave preliminary first-quarter 2026 estimates that mix higher oil and gas prices with several negative items. Higher commodity prices are expected to add $1.6 billion to $2.2 billion to upstream earnings versus fourth quarter 2025, but timing effects and a litigation charge are expected to weigh on earnings and cash flow. Final results are due on or around May 1, 2026, and the figures are unaudited and could change.
Timing effects, after tax, are expected to reduce first-quarter earnings and cash flow from operations excluding working capital by about $2.7 billion to $3.7 billion, mostly in Downstream.
Upstream earnings are expected to benefit by $1.6 billion to $2.2 billion from higher commodity prices compared with fourth quarter 2025.
A Downstream litigation reserve tied to ceased operations is expected to bring a charge of about $350 million to $400 million after tax.
Upstream net production is expected at 3.8 to 3.9 million barrels of oil-equivalent per day, reflecting downtime at Tengizchevroil and reduced Middle East output.
Chevron's independent directors completed their annual review of executive pay on January 28, 2026, approving a $75,000 base salary increase for Chairman and CEO Michael K. Wirth and ratifying smaller raises for other named executive officers, effective March 1, 2026. The filing also covers incentive target percentages, which were left unchanged, and equity award values for 2026 grants, which shareholders may track in future proxy and SEC filings.
Wirth's annual base salary rises $75,000 to $1,975,000; CFO Eimear P. Bonner's rises $50,000 to $1,100,000
Mark A. Nelson's base salary rises $25,000 to $1,350,000; R. Hewitt Pate's rises $50,000 to $1,250,000
Target bonus percentages under the Chevron Incentive Plan are unchanged for 2026, including 165 percent for Wirth
Equity award values of $23,000,000 for Wirth, $5,094,000 for Bonner, $8,533,800 for Nelson and $7,641,000 for Pate, with a February 1, 2026 grant date
Chevron reported unaudited fourth quarter 2025 earnings of $2.8 billion, or $1.39 per diluted share, down from $3.2 billion, or $1.84 per share, a year earlier. Adjusted earnings were $3.0 billion ($1.52 per share), also lower than the $3.6 billion ($2.06 per share) a year earlier, and the company announced a 4 percent increase in its quarterly dividend to $1.78 per share, which shareholders may view as a positive sign for cash returns.
Q4 2025 earnings were $2.8 billion ($1.39 per diluted share) versus $3.2 billion ($1.84) in Q4 2024; adjusted earnings were $3.0 billion ($1.52) versus $3.6 billion ($2.06).
Sales and other operating revenues were $45.8 billion in Q4 2025 versus $48.3 billion in Q4 2024.
Quarterly dividend rises 4 percent to $1.78 per share, payable March 10, 2026, to holders of record on February 17, 2026.
Full-year 2025 cash flow from operations was $33.9 billion and the company returned $27.1 billion to shareholders during the year.
Chevron's board added Thomas W. Horton as a director effective January 27, 2026, and placed him on the Audit Committee. He receives a prorated director equity grant and a prorated cash retainer, per the filing. The change adds a new board member with prior CFO and airline chief executive experience; the filing does not describe any effect on Chevron's operations or financial results.
Thomas W. Horton, age 64, joined the Chevron board effective January 27, 2026.
He was also appointed to the Board's Audit Committee on the Effective Date.
Equity grant: prorated restricted stock units valued at up to $235,000 on an annual basis, converted to units at the closing share price on the Effective Date.
Cash retainer: annual $155,000 for non-employee directors, prorated.
Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron, issued $154,204,000 of Floating Rate Notes due December 9, 2075, with Chevron Corporation fully and unconditionally guaranteeing the notes. The filing is a routine debt issuance under an existing 2020 indenture, and it adds a long-dated obligation that ranks structurally ahead of Chevron Corporation's own debt.
Principal amount: $154,204,000, maturing December 9, 2075
Interest floats at Compounded SOFR minus 45 bps, paid quarterly starting March 9, 2026
Underwriters: Morgan Stanley, J.P. Morgan, RBC Capital Markets and UBS Securities, under an agreement dated December 4, 2025
Chevron's board adopted amended and restated bylaws effective December 3, 2025, streamlining the officer article and removing many specific officer titles to allow more flexibility in modernizing titles. The board also approved an updated executive officer list that adds two executive officers, Robert C. Neff, Jr. (President, Upstream) and Andrew B. Walz (President, Downstream, Midstream and Chemicals). The filing gives no financial results, and the changes are administrative in nature.
Bylaws amended and restated effective December 3, 2025, simplifying Article II (Officers)
Several specific officer positions, including Treasurer, Controller and General Tax Counsel, were deleted from the bylaws
Two new executive officers added: Robert C. Neff, Jr., President, Upstream, and Andrew B. Walz, President, Downstream, Midstream and Chemicals
Michael K. Wirth remains Chief Executive Officer and Eimear P. Bonner remains Chief Financial Officer
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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