Energy company Chevron Corporation (NYSE: CVX) on Friday announced results for the third quarter of fiscal 2025, reporting a decline in adjusted earnings.
In the third quarter, total revenues and other income were $49.7 billion, vs. $50.7 billion reported in the year-ago quarter.
Net income attributable to the company declined to $3.54 billion or $1.82 per share in the third quarter from $4.49 billion or $2.48 per share in the prior year period. Adjusted earnings decreased to $1.85 per share from $2.51 per share in Q3 2024.
“U.S. and worldwide production hit new company records, up 27 percent and 21 percent, respectively, from last year. Strong cash flow from operations was sustained while the company’s adjusted free cash flow increased more than 50 percent from a year ago. The company returned $6 billion of cash to shareholders in the quarter, and over $78 billion in the last 3 years,” said Mike Wirth, Chevron’s chief executive officer.