# Chevron Refining Profit Jumps More Than 300% to $4.9 Billion

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/44541
Published: 2026-10-30T10:34:00.000Z
Updated: 2026-10-30T10:34:00.000Z
Section: Business

> U.S. refineries processed a record just over 1 million barrels of crude per day at 98% capacity. Adjusted earnings reached $5.28 per share, topping the $4.89 estimate.

Chevron’s refining profit rose more than 300% to $4.9 billion in the third quarter, while the company also exceeded analyst estimates for adjusted earnings and revenue. Its U.S. refineries processed a record volume of crude as they operated at 98% capacity.

Refining profit was up from $1.1 billion in the year-earlier quarter. Chevron posted adjusted earnings of $5.28 per share, above the $4.89 estimate. Revenue totaled $67.8 billion, compared with expectations of $61.6 billion.

Net income increased nearly 200% to $9.9 billion, or $5.06 per share, from $3.5 billion, or $1.82 per share, a year earlier. Adjusted earnings exclude one-time items.

The company’s U.S. refineries processed just over 1 million barrels of crude oil per day, a record. They operated at 98% capacity, and diesel and jet fuel yields rose more than 10%.

Global diesel prices climbed amid refinery attacks by Ukraine and Iran in Russia and the Middle East. U.S. refiners increased production to help fill the resulting supply gap.

Chevron’s oil and gas production profit rose about 70% to $5.7 billion from $3.3 billion a year earlier. Output edged down to 3.9 million barrels per day from about 4 million. The decline was in the international segment, partly due to the conflict in the Middle East, while U.S. output was largely flat year over year.