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15:00
Jul 31 ◎

CVX FY2026 Q2 Watch

Chevron Corporation (CVX) FY2026 Q2 Earnings Call

GEV LKOH HES CVX MSFT ▾

Jess Gustafson

Chevron is securing turbine supply ahead of demand, indicating GEV has strong backlog visibility and pricing power in the power equipment market.

"We have some deep relationships with GE, Vernova, and other manufacturers. We're already talking to them about their cues."

GEV WATCH

Mike Wirth

Lukoil exiting West Qurna II opens opportunity for Chevron to grow its position in Iraq.

"You know, due to the and the circumstances Luko found itself in. It has stepped away from West Kurna II."

LKOH WATCH

Mike Wirth

Hess has surpassed synergy targets, delivering strong free cash flow ahead of schedule, improving the outlook for the combined entity.

"This month also marks the one-year anniversary of the Hess Acquisition. We pulled value forward, capturing 50% more synergies than initially targeted"

HES WATCH

Eimear Bonner

Chevron's guidance tone is bullish, with strong performance across all segments, record production, early cost savings, and growth initiatives on track.

"Our second quarter performance demonstrates strong execution and results that can be seen in our bottom line. We remain confident in the 2030 objectives we outlined last November, including annual production growth of 2-3%, adjusted free"

CVX WATCH

Jess Gustafson

Project Kilby will provide 2.67 GW firm power to Microsoft, a first at this scale for the data center industry, indicating Chevron's execution advantage. — This secures a multi-billion-dollar revenue stream and sets a precedent for power providers in the AI data center market.

"We recently signed a 20-year take-or-pay power purchase agreement with Microsoft for 2.67 gigawatts of firm, behind the meter capacity"

MSFT WATCH

HIGH

15:00
May 01 ◎

CVX FY2026 Q1 Watch

Chevron Corporation (CVX) FY2026 Q1 Earnings Call

MSFT VLO CVX MPC ▾

Mike Wirth

Chevron is in exclusive negotiations with Microsoft for a natural gas power project, suggesting a signed PPA is a near-term catalyst for both companies.

"we're in an exclusive discussion with Microsoft right now. We're very pleased to be in those discussions with such a high quality customer as Microsoft."

MSFT WATCH

Mike Wirth

Chevron is using its internal equity crude supply to keep its Asian refineries running at >80% utilization and >40% equity crude throughput while other refiners face feedstock shortages. — This implies Chevron can capture outsized refining margins during the crude supply disruption, potentially taking market share and margins from competitors without similar integrated supply.

"we expect to be over 40% in Asia, north of 50, and much higher than that in some refineries in the U.S."

VLO WATCH MPC WATCH

Emer Bonner

Management reiterated all 2026 guidance and 2030 targets, citing strong operational momentum and asset reliability, framing the outlook as resilient despite market volatility.

"we're on track to deliver our $3 to $4 billion structural cost reduction target by year end."

CVX WATCH

HIGH

16:00
Jan 30 ◎

CVX FY2025 Q4 Watch

Chevron Corporation (CVX) FY2025 Q4 Earnings Call

HES CVX ▾

Mike Wirth

The integration of HESS assets is a core driver of Chevron's production and cash flow growth outlook for 2026.

"closing the HESS acquisition, creating a premier upstream portfolio with the highest cash margins in the industry"

HES WATCH

Mike Wirth

Management tone is clearly optimistic, citing record production, project ramp-ups, cost savings outperformance, and a strong balance sheet for 2026 growth.

"We're entering 2026 from a position of strength, and will continue building on our momentum in the years ahead."

CVX WATCH

HIGH

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