Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

Chevron (CVX) reported $48.61 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 2.1%. EPS of $1.41 for the same period compares to $2.18 a year ago.The reported revenue represents a surprise of +2.6% over the Zacks Consensus Estimate of $47.37 billion. With the consensus EPS estimate being $0.92, the EPS surprise was +54.1%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.Here is how Chevron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:U.S. Upstream - Net oil-equivalent production per day: 2024 millions of barrels of oil equivalent per day compared to the 2006.51 millions of barrels of oil equivalent per day average estimate based on three analysts.International Upstream - Net oil-equivalent production per day: 1834 millions of barrels of oil equivalent per day versus 1853.14 millions of barrels of oil equivalent per day estimated by three analysts on average.U.S. and International Upstream - Total net oil-equivalent production: 3858 millions of barrels of oil equivalent compared to the 3859.65 millions of barrels of oil equivalent average estimate based on three analysts.International Upstream - Net crude oil and natural gas liquids production per day (Liquids Production): 974 millions of barrels of oil per day compared to the 995.39 millions of barrels of oil per day average estimate based on two analysts.International Upstream - Net natural gas production per day (Natural Gas Production): 5,161.00 Mcf/D versus the two-analyst average estimate of 5,194.92 Mcf/D.U.S. Upstream - Net crude oil and natural gas liquids production per day (Liquids Production): 1461 millions of barrels of oil per day compared to the 1454.66 millions of barrels of oil per day average estimate based on two analysts.Worldwide - Net crude oil and natural gas liquids production per day (Liquids Production): 2435 millions of barrels of oil per day compared to the 2450.05 millions of barrels of oil per day average estimate based on two analysts.International Downstream - Refinery Crude Oil Inputs: 616 millions of barrels of oil compared to the 631.87 millions of barrels of oil average estimate based on two analysts.U.S. Downstream - Refinery Crude Oil Inputs: 1054 millions of barrels of oil compared to the 987.19 millions of barrels of oil average estimate based on two analysts.Revenues- Other income: $306 million versus $366.88 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -55.6% change.Revenues- Income (loss) from equity affiliates: $745 million versus $593.54 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.2% change.Revenues- Sales and other operating revenues: $47.56 billion versus $49.15 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.2% change.View all Key Company Metrics for Chevron here>>>Shares of Chevron have returned -4.1% over the past month versus the Zacks S&P 500 composite's +11% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks