Chevron Q1 2023 Earnings Report
Key Takeaways
Chevron reported strong financial results for Q1 2023, with earnings of $6.6 billion and adjusted earnings of $6.7 billion. The company's return on capital employed has been greater than 12 percent for seven consecutive quarters, and the company returned $6.6 billion to shareholders, an increase of 65 percent from last year.
Reported earnings of $6.6 billion; adjusted earnings of $6.7 billion.
Cash flow from operations of $7.2 billion; free cash flow of $4.2 billion.
Shareholder distributions of $6.6 billion, up 65 percent from first quarter 2022.
First quarter 2023 earnings increased compared to first quarter 2022 primarily due to higher margins on refined product sales, partially offset by lower upstream realizations.
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Chevron Revenue by Segment
Forward Guidance
Chevron intends to leverage its capital discipline, advantaged assets and financial strength to deliver lower carbon energy to its customers and superior cash distributions to its shareholders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income