Chevron Beats Earnings Estimates as Refining Profits Surge on High Diesel Prices

According to CNBC, Chevron’s adjusted third-quarter earnings of $5.28 per share beat analysts’ $4.89 estimate, while revenue of $67.8 billion topped the $61.6 billion estimate. Net income surged nearly 200% to $9.9 billion, or $5.06 per share, from $3.5 billion, or $1.82 per share, a year earlier. Refining division profits rose more than 300% to $4.9 billion from $1.1 billion in the same period in 2025, as U.S. refineries operated at 98% capacity and processed just over 1 million barrels of crude oil per day. Chevron shares rose about 2% in premarket trading.