chevron reports second quarter 2023 results

• 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

San Ramon, Calif., July 28, 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.

Read the full press release with tables.