雪佛龙Chevron Corporation（CVX）2025年第四季度及全年业绩报告「NYSE」（英文版）（11页）.pdf

1、news releaseChevron Reports Fourth Quarter 2025 Results Reported earnings of$2.8 billion;adjusted earnings of$3.0 billion Cash flow from operations of$10.8 billion;adjusted free cash flow of$4.2 billion Increased 2025 worldwide and U.S.production by 12 and 16 percent to record levels Reserve replace

2、ment ratio of 158 percent in 2025 Announces a 4 percent increase in quarterly dividend to$1.78 per shareHOUSTON,Texas,January 30,2026 Chevron Corporation(NYSE:CVX)reported earnings of$2.8 billion($1.39 per share-diluted)for fourth quarter 2025,compared with$3.2 billion($1.84 per share-diluted)in fou

3、rth quarter 2024.Included in the quarter was a net loss of$128 million due to pension settlement costs.Foreign currency effects decreased earnings by$130 million.Adjusted earnings of$3.0 billion($1.52 per share-diluted)in fourth quarter 2025 compared to adjusted earnings of$3.6 billion($2.06 per sha

4、re-diluted)in fourth quarter 2024.See Attachment 4 for a reconciliation of adjusted earnings.Earnings&Cash Flow SummaryUnit4Q 20253Q 20254Q 202420252024Total Earnings/(Loss)$MM$2,770$3,539$3,239$12,299$17,661 Upstream$MM$3,035$3,302$4,304$12,822$18,602 Downstream$MM$823$1,137$(248)$3,022$1,727 All O

5、ther$MM$(1,088)$(900)$(817)$(3,545)$(2,668)Earnings Per Share-Diluted$/Share$1.39$1.82$1.84$6.63$9.72 Adjusted Earnings(1)$MM$3,028$3,627$3,632$13,521$18,256 Adjusted Earnings Per Share-Diluted(1)$/Share$1.52$1.85$2.06$7.29$10.05 Cash Flow From Operations(CFFO)$B$10.8$9.4$8.7$33.9$31.5 CFFO Excludin

6、g Working Capital(1)$B$9.1$9.9$5.3$34.9$30.3 Avg.Brent Spot Price(Source:Platts)$/BBL$64$69$75$69$81(1)See non-GAAP measure definitions on page 6 and reconciliations in the attachments“2025 was a year of significant achievement.We successfully integrated Hess,started-up major projects,delivered reco