On an adjusted basis, fourth-quarter net income declined to $3.0 billion or $1.52 per share from $3.6 billion or $2.06 per share in the corresponding quarter of fiscal 2024. Reported net income was $2.8 billion or $1.39 per share, compared to $3.2 billion or $1.84 per share last year.
Total revenues and other income declined to $46.9 billion in the December quarter from $52.2 billion in the year-ago quarter. Net oil-equivalent production during the quarter was up 286,000 barrels per day from the year-ago period, primarily due to the acquisition of Hess, which joined the Cheveron-fold last year
“2025 was a year of significant achievement. We successfully integrated Hess, started up major projects, delivered record production, and reorganized our business. This resulted in industry-leading free cash flow growth and superior shareholder returns, despite declining oil prices,” said Mike Wirth, Chevron’s chief executive officer.
Chevron increased its 2025 worldwide and US production by 12% and 16%, respectively, to record levels. Following the integration of Hess Corporation, the company has delivered on its initial $1 billion synergy target.