Chevron reported Q2 2024 earnings of $4.4 billion ($2.43 per share), down from $6.0 billion ($3.20 per share) in Q2 2023. The decline was primarily due to lower refined product margins, absence of prior year tax benefits, and negative foreign currency effects. Adjusted earnings were $4.7 billion compared to $5.8 billion last year.Global production increased 11% year-over-year, driven by successful PDC Energy integration and record output in Permian Basin. The company maintained strong shareholder returns, distributing $6.0 billion through dividends ($3.0B) and share repurchases ($3.0B) - marking the ninth consecutive quarter of over $5B in shareholder returns.The company declared a quarterly dividend of $1.63 per share, payable September 10, 2024. Chevron expanded its exploration portfolio through new agreements in Namibia, Brazil, Equatorial Guinea, and Angola. Despite recent operational downtime and softer margins, management remains confident in delivering significant long-term earnings and cash flow growth.

Chevron reported Q2 2024 earnings of $4.4 billion ($2.43 per share), down from $6.0 billion ($3.20 per share) in Q2 2023. The decline was primarily due to lower refined product margins, absence of prior year tax benefits, and negative foreign currency effects. Adjusted earnings were $4.7 billion compared to $5.8 billion last year.Global production increased 11% year-over-year, driven by successful PDC Energy integration and record output in Permian Basin. The company maintained strong shareholder returns, distributing $6.0 billion through dividends ($3.0B) and share repurchases ($3.0B) - marking the ninth consecutive quarter of over $5B in shareholder returns.The company declared a quarterly dividend of $1.63 per share, payable September 10, 2024. Chevron expanded its exploration portfolio through new agreements in Namibia, Brazil, Equatorial Guinea, and Angola. Despite recent operational downtime and softer margins, management remains confident in delivering significant long-term earnings and cash flow growth.