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Chevron Reports Second Qarter 2023 Results


San Ramon, Calif. – WEBWIRE –
  • Reported earnings of $6.0 billion; adjusted earnings of $5.8 billion
  • Record Permian Basin production, 11 percent higher than the year-ago period
  • Record shareholder distributions of $7.2 billion
  • PDC Energy, Inc. acquisition expected to close in August 2023


Chevron Corporation (NYSE: CVX) reported earnings of $6.0 billion ($3.20 per share - diluted) for second quarter 2023, compared with $11.6 billion ($5.95 per share - diluted) in second quarter 2022. Included in the current quarter was a one-time tax benefit of $225 million related to impairments that were recognized in prior periods. Foreign currency effects increased earnings by $10 million. Adjusted earnings of $5.8 billion ($3.08 per share - diluted) in second quarter 2023 compared to adjusted earnings of $11.4 billion ($5.82 per share - diluted) in second quarter 2022.

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