The results come as the Chevron-Hess deal is delayed until well into 2025 due to an arbitration case with ExxonMobil.
Chevron missed second-quarter earnings expectations, hurt by lower refining margins.
The oil major also said Friday it is moving its headquarters from San Ramon, California, to Houston, Texas, with CEO Mike Wirth relocating by end the of 2024. All corporate functions will move to Houston over the next five years.
Chevron’s stock fell 1.65% in early trading.
Here is what Chevron reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $2.55 adjusted vs. $2.93 expected
Revenue: $51.18 billion vs. $50.8 billion expected
Chevron’s net income declined 26% to $4.43 billion, or $2.43 per share, compared with $6.01 billion, or $3.20 per share, in the same period a year ago.
