Chevron (NYSE: CVX) announced an adjusted Q4 2025 earnings per share of $1.52, beating the previous estimate of $1.45, but revenue of $46.87 billion fell short of expectations. Although year-over-year earnings declined from $2.06 in Q4 2024, increased production and cost control continued to drive profit growth. The company set a record operating cash flow of $10.8 billion this quarter and plans to increase the annual dividend for the 39th consecutive year, while aiming to cut $3 billion to $4 billion in structural costs by 2026.