Chevron Just Crushed Earnings. Here's What It Means for the Dividend.

Chevron reported exceptional second-quarter results with $12.1 billion in net profit (up 446% YoY) and $6.05 adjusted earnings per share, beating analyst estimates. The company generated $15.4 billion in free cash flow, more than triple the prior year, easily covering its $3.5 billion dividend while also repurchasing $3.1 billion in shares and reducing debt by $8.4 billion. These strong results reinforce the sustainability of Chevron's dividend, which has increased for 39 consecutive years.