Chevron Corporation (NYSE: CVX) reported a sharp fall in profit for the first quarter of 2025 when the energy exploration company’s revenues declined YoY.
Revenues and other income totaled $47.6 billion in the March quarter, down 2% from $48.7 billion reported in the year-ago quarter.
Net income attributable to the company plunged to $3.50 billion or $2.0 per share in the first quarter from $5.50 billion or $2.97 per share in the prior year period. Adjusted profit decreased 26% year-over-year to $2.18 per share.
“Despite changing market conditions, our resilient portfolio, strong balance sheet, and consistent focus on capital and cost discipline position us to deliver industry-leading free cash flow growth by 2026,” said Mike Wirth, Chevron’s chief executive officer.
