For the first quarter, Chevron reported earnings of $2.2 billion or $1.11 per share, and adjusted earnings were $2.8 billion or $1.41 per share.

The company generated cash flow from operations, excluding working capital, of $7.1 billion in the quarter.

Adjusted free cash flow was $4.1 billion for the quarter, and share repurchases were $2.5 billion.

Organic CapEx was $3.9 billion in the quarter.

Management highlighted strong momentum with U.S. production over 2 million barrels of oil equivalent per day, Gorgon and Wheatstone LNG running at full rates, and TCO producing above 1 million barrels of oil equivalent per day.

First quarter 2026 oil equivalent production increased by approximately 500,000 barrels per day compared to the first quarter of 2025. In Venezuela, Chevron announced an asset swap with PDVSA, expanding its continuous acreage position with Petro Independencia and increasing its equity stake to 49%.

Chevron confirmed that its 2026 guidance is unchanged.

The company maintained its capital spending budget of $18 billion to $19 billion for the year and expects 7% to 10% production growth this year.

Chevron is on track to deliver a $3 billion to $4 billion structural cost reduction target by year end.

Management also noted that the buyback range is staying within $2.5 billion to $3 billion.

Additionally, Chevron confirmed it is in exclusive discussions with Microsoft regarding a power project in West Texas, advancing the project by submitting an air permit, securing turbines, and selecting an EPC.

For the first quarter, Caterpillar Inc. reported that "Sales and revenues were $17.4 billion," which was an increase of 22% versus the previous year.

The first quarter adjusted operating profit margin was 18.0%.

Adjusted profit per share was $5.54 for the quarter.

During the first quarter, the company deployed $5.7 billion to shareholders through share repurchases and dividends.

First quarter profit for Power and Energy was $1.5 billion, Construction Industries was $1.5 billion, and Resource Industries was $378 million.

During the quarter, the company's backlog grew to a record level of $63 billion.

Caterpillar announced an increase to its large reciprocating engine capacity from 2x 2024 levels to nearly 3x 2024 levels, with the additional investment primarily occurring from 2027 through 2029.

The company completed the acquisition of RPMGlobal in February to bring a leader in mining software technology into its portfolio.

The company also announced that Kyle Epley will succeed Andrew Bonfield as CFO.Looking ahead, management stated, "We now anticipate low double-digit growth for full year 2026 sales and revenues". For the full year, the adjusted operating profit margin is estimated to remain near the bottom of the target range.

The company anticipates full year 2026 tariff costs in the range of $2.2 billion to $2.4 billion and expects restructuring costs of approximately $300 million to $350 million in 2026.

For the second quarter, the company anticipates another quarter of strong sales growth versus the prior year.In product announcements, Caterpillar launched CAT compact, which is designed for small contractors and growing businesses.

The company also announced an opportunity to provide up to 2.1 gigawatts of large gas generator sets for prime power generation in support of data center, oil and gas, and industrial applications.

For the first quarter, Merck & Co., Inc. reported that "Total company revenues were $16.3 billion" representing "an increase of 5%". "Gross margin was 81.9%" for the quarter.

The company noted it "reported a loss of $1.28 per share. which includes a negative impact of $3.62 per share from the onetime charge related to Cidara". For the quarter, "Operating expenses increased to $15.2 billion, including a $9 billion onetime charge related to the acquisition of Cidara Therapeutics".Management highlighted several key business updates, noting "the transformation of our portfolio to a far more diversified set of commercial drivers is now well underway". The company is currently seeing "initial launches of over 20 new products". In terms of strategy, the company announced a "multiyear partnership with Google Cloud to scale advanced AI, data and agentic capabilities" and highlighted its "proposed acquisition of Terns Pharmaceutical" to advance "TERN-701".Regarding product announcements and performance for the quarter, "sales of the KEYTRUDA family of products which includes KEYTRUDA and KEYTRUDA QLEX, increased 8% to $8 billion". "WINREVAIR continues to have a positive impact on patients with pulmonary arterial hypertension.

Global sales were $525 million" for the quarter. "GARDASIL sales were $1.1 billion" for the quarter.

The company also announced that "the FDA approved IDVYNSO as a new treatment option for adults with virologically suppressed HIV-1".For full year 2026 forward guidance, management stated, "We now expect revenue to be between $65.8 billion and $67 billion". For the full year, "We expect EPS of $5.04 to $5.16". Furthermore, "Our gross margin assumption remains approximately 82%" and "Operating expenses are assumed to be between $36 billion and $36.8 billion".

Eli Lilly and Company reported that Revenue grew 56% compared to Q1 2025.

For the first quarter, Gross margin as a percentage of revenue was 82.6%.

The company reported non-GAAP earnings per share was $8.55 including acquire R&D charges of $0.52 for the quarter.

During the first quarter, the company distributed $1.5 billion in dividends and executed $2.4 billion in share repurchases.

Executives highlighted momentum across all therapeutic areas, particularly in cardiometabolic health and obesity.

The company launched a new oral GLP-1 therapy, Foundayo, in the U.S. for weight management, noting it is broadly available on more than 12 major telehealth platforms and via the new Lilly Employer Connect platform.

Management emphasized their focus on patient activation and expanding HCP engagement to support this rollout and drive additional share of market.

Management provided updated expectations for 2026 financial guidance.

They increased the top and the bottom end of the revenue range by $2 billion, and now expect full year revenue to be between $82 million and $85 billion.

The company expects non-GAAP performance margin to be between 47% and 48.5% for the year.

Furthermore, they expect non-GAAP earnings per share of $35.50 to $37 for the full year.

During the quarter, Eli Lilly announced agreements to acquire multiple companies with clinical stage programs, including Orna Therapeutics, Syntessa Pharmaceuticals, Colonia Therapeutics, and Ajax Therapeutics.

The company also announced a licensing agreement with CSL for clazakizumab.

For the first quarter, Samsung Electronics Co., Ltd. reported that "Total revenue reached a new high -- a new record high of KRW 134 trillion," up by 43% from the previous quarter.

The company stated that "Operating profit also reached a new all-time high of KRW 57 trillion," up 185% quarter-over-quarter, and "operating margin expanded from 21% in the previous quarter to 43%." Net profit for the quarter recorded KRW 47 trillion, while "Earnings per share came in at KRW 7,123 for common shares and KRW 7,124 for preferred shares." Capital expenditures in the first quarter totaled KRW 11.2 trillion.

Executives noted that the record performance was "driven by continued AI technology innovations and our proactive market response." The Memory business posted its "second straight quarterly earnings record," and the company "started shipping industry's first mass-produced HBM4 and SOCAMM2." The MX division reported first quarter revenue of KRW 37.5 trillion and delivered a "combined operating profit of KRW 2.8 trillion across the MX and network businesses." Notable announcements included the successful launch of the new A Series models, plans to "start mass production of the second-generation 2-nanometer process" in the second half, and the acquisition of a strategic project from a "leading optical communication module player."Looking ahead to the second quarter, management indicated that "semiconductor demand is expected to remain strong" and that they "expect memory price to stay on the current upward trend driven by ongoing expansion in AI infrastructure." The company plans to "provide the first samples of HBM4E in the second quarter." Conversely, in the DX division, they "expect profit to decline due to rising cost pressures." For the full year 2026, the company expects a "substantial year-on-year increase in CapEx driven by sustained demand related to AI."

Evercore reported its first quarter 2026 financial results, with net revenues, operating income and EPS on a GAAP basis of $1.4 billion, $331 million and $7.20 per share, respectively.

First quarter adjusted net revenues were approximately $1.4 billion.

Adjusted operating income for the quarter was $354 million, and adjusted earnings per share was $7.53.

The adjusted operating margin for the quarter was 25.3%.

The firm returned a total of $673 million of capital in the quarter through the repurchase of 1.9 million shares and the payment of dividends.

Management stated that performance was broad-based, resulting in a record revenue quarter for the North American advisory business and a record first quarter for EMEA Advisory, Private Capital Advisory, Private Funds Group, Equities, and Wealth Management.

During the quarter, the firm advised on several significant transactions, including Warner Bros.

Discovery on its $110 billion sale to Paramount Skydance, Devon Energy on its $58 billion merger with Coterra Energy, Jetro Restaurant Depot on its sale to Sysco for $29 billion, and Apellis on its sale to Biogen for approximately $5.6 billion.

The firm also acted as lead left bookrunner on Diamond Energy's $2.2 billion follow-on offering.

Regarding business updates, the firm highlighted the benefits of its "multiyear investment strategy" and its "diversified business model". Three senior managing directors joined the investment banking practice in the first quarter, and three additional SMDs committed to join this year, bringing the total to 182 SMDs in investment banking.

Management observed continued CEO and boardroom confidence, particularly around large-cap strategic M&A, and noted that financing markets remain open and abundant.

For forward guidance, management stated they "expect our second quarter to be closer to what we experienced in last year's second quarter," noting that the first quarter benefited from the acceleration of some large transactions that were originally on track for a second quarter closing.

Management expects that the compensation ratio improvement this year "will likely be meaningfully more modest than what we achieved in each of the last 2 years". The firm also anticipates a similar growth rate in non-compensation expenses in 2026, in line with what was experienced in the last couple of years.

Reddit, Inc. reported its first quarter 2026 financial results, noting that Q1 revenues of $663 million grew 69% year-over-year.

Advertising revenue grew 74% year-over-year to $625 million in the quarter.

The company achieved a 47% free cash flow margin and reported net income of $204 million, or $1.01 per diluted share.

Gross margins were 91.5% and the adjusted EBITDA margin was 40% for the quarter.

Management stated their goal is to reach 100 million daily U.S. users. To achieve this, the company is prioritizing broadening the top of funnel, improving new user retention, and making Reddit faster across the board.

The company's advertising strategy focuses on scaling automation through the RedditMax platform, delivering advertiser value across all objectives, and expanding the Reddit for Business ecosystem.

For the second quarter of 2026, management estimates revenue in the range of $715 million to $725 million.

They expect Q2 adjusted EBITDA to be in the range of $285 million to $295 million.

The Q2 guidance assumes a total adjusted cost basis of $430 million.In product and partnership updates, the company launched RedditMax to beta in early Q1 to integrate more automation and AI into their ad stack. In March, they announced an integration with Shopify to strengthen their retail and e-commerce partnership ecosystem.

Management also highlighted ongoing data partnerships with Google and OpenAI, stating that Reddit continues to be the most cited source in AI citations across all platforms.

In the first quarter of 2026, Exxon Mobil Corporation reported that its Energy Products segment "made $2.8 billion in the quarter", which was up $2 billion compared to last year and a few hundred million compared to the fourth quarter.

Management noted that excluding identified items and estimated timing effects, first quarter earnings per share were up versus the fourth quarter of 2025.

Management highlighted several key business updates, including achieving record levels of production in Guyana and delivering on plans to increase Permian production year-over-year.

The company optimized logistics and safely maximized refinery throughput, noting that in March, refinery throughput increased by approximately 200,000 barrels a day versus February.

Additionally, the Beaumont refinery expansion completed in 2023 fully recovered its initial investment ahead of expectation. In Low Carbon Solutions, ExxonMobil began transporting and storing captured CO2 from the new generation gas gathering project.

Looking forward, the company stated it remains on track to grow full year Permian production to 1.8 million oil equivalent barrels in 2026.

ExxonMobil also expects to start facilities through this year and next with the capacity to capture an additional 4 million tons per year of CO2. For the Golden Pass LNG facility, Train 2 is expected to be mechanically complete by the end of this year, and Train 3 should be mechanically complete as the company heads into the second quarter of next year.

Notable product and partnership announcements included Train 1 of the Golden Pass LNG facility, a joint venture with Qatar Energy, achieving first LNG in March, which will deliver an increase of about 5 percent relative to 2025 U.S. exports.

The company also announced it has committed a $100 million investment over 10 years to support national STEM education in Guyana.

Furthermore, the company held a ribbon-cutting ceremony at a pilot production plant in Kentucky to build a reliable domestic supply of advanced synthetic graphite.

Amazon.com, Inc. reported worldwide revenue of $181.5 billion for the first quarter of 2026, which represents a 17 percent increase year-over-year, or a 15 percent increase excluding the favorable impact from foreign exchange.

Worldwide operating income for the quarter was $23.9 billion with an operating margin of 13.1 percent.

The AWS segment reported revenue of $37.6 billion, which management noted was a 28 percent year-over-year growth rate, with AWS operating income reaching $14.2 billion for the quarter.

North America segment operating income was $8.3 billion, and International segment operating income was $1.4 billion.

Cash capital expenditures were $43.2 billion in Q1, which management stated primarily relates to AWS and generative AI.Management emphasized significant growth and investment in artificial intelligence, noting that the AWS AI revenue run rate is over $15 billion and that AWS is now a $150 billion annualized revenue run rate business.

Discussing custom silicon, CEO Andy Jassy stated, "at scale, we expect Trainium will save us tens of billions of dollars of CapEx each year and provide several hundred basis points of operating margin advantage versus relying on other chips for inference". In the retail business, overall unit growth was 15 percent, and perishable sales have grown over 40x year-over-year.

Management also highlighted that they have delivered more than 1 billion items same-day overnight so far this year.

For the second quarter of 2026, management expects net sales to be between $194 billion and $199 billion.

Second quarter operating income is expected to be between $20 billion and $24 billion.

This guidance assumes a year-over-year cost increase of approximately $1 billion related to Amazon Leo as the company manufactures and launches more satellites in preparation for its commercial service offering.

Notable announcements included making OpenAI models available in Amazon Bedrock, starting with the GPT 5.4 model.

The company discussed an agreement with Anthropic for over $100 billion, over $225 million in revenue commitments for Trainium, and a commitment from Meta to use tens of millions of Graviton cores.

Additionally, Amazon announced a planned acquisition of Globalstar to expand the Amazon Leo satellite network with direct-to-device capabilities, alongside an agreement with Apple for Amazon Leo to power satellite services for iPhones and Apple Watches.

Apple reported March quarter results, with CEO Tim Cook stating, "Today, Apple is proud to report $111.2 billion in revenue up 17% from a year ago and a March quarter record". CFO Kevan Parekh noted that net income was $29.6 billion and diluted earnings per share was $2.01 for the March quarter.

Company gross margin was 49.3%.

Parekh also mentioned that operating cash flow was $28.7 billion for the quarter.A major business update was the announcement of a CEO transition.

Tim Cook stated, "I very much look forward to stepping into the role of Executive Chairman on September 1". He added, "As I have said, there is no 1 on this planet I trust more to lead Apple into the future than John Turnes". The company also provided updates on its supply chain strategy, stating, "As part of our $600 billion commitment to the U.S., we were pleased to share recently that Mac Mini production is coming to America later this year expanding our factory operations in Houston with a brand-new facility".Regarding products, the company saw strong demand for the iPhone 17 family and the new MacBook Neo.

Cook noted, "the iPhone 17 family is now the most popular lineup in our history when looking at the launch through the March quarter". For the Mac segment, Cook stated, "the customer response to Mac Neo has just been off the charts with higher-than-expected demand". He also mentioned that the company faced supply constraints, explaining, "the primary constraint is the availability of the advanced nodes our SoCs are produced on".For forward guidance, Parekh stated, "We expect our June quarter total company revenue to grow by 14% to 17% year-over-year". He also provided expectations for margins and expenses, noting, "We expect gross margin to be between 47.5% and 48.5%" and "We expect operating expenses to be between $18.8 billion and $19.1 billion". Parekh added that they expect the tax rate to be "around 17%" for the June quarter.