Chevron’s earnings fell 30.3% in 2023 and another 23.5% in 2024. Analysts have been cutting Chevron’s earnings estimates again over the last 30 days. 3 are lower, but 2 are higher, for 2025.

For 2025, Chevron’s earnings are expected to decline the third year in a row to $6.87 from $10.05 last year. That’s another decline of 31.6%. Here’s what it looks like on the chart.