chevron announces first quarter 2022 results

• Reported earnings of $6.3 billion; adjusted earnings of $6.5 billion
• Cash flow from operations of $8.1 billion; free cash flow of $6.1 billion
• Record Permian Basin unconventional production

San Ramon, Calif., April 29, 2022 – Chevron Corporation (NYSE: CVX) today reported earnings of $6.3 billion ($3.22 per share - diluted) for first quarter 2022, compared with $1.4 billion ($0.72 per share - diluted) in first quarter 2021. Included in the current quarter were pension settlement costs of $66 million. Foreign currency effects decreased earnings by $218 million. Adjusted earnings of $6.5 billion ($3.36 per share - diluted) in first quarter 2022 compares to adjusted earnings of $1.7 billion ($0.90 per share - diluted) in first quarter 2021. Sales and other operating revenues in first quarter 2022 were $52 billion, compared to $31 billion in the year-ago period.

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