OCCIDENTAL $OXY Q3’26 EARNINGS HIGHLIGHTS
🔹 Total Revenue: $6.77B (Est. $6.79B) 🔴; +21% YoY
🔹 Adj. EPS: $1.91 (Est. $1.46) 🟢; +275% YoY
🔹 GAAP EPS: $1.61; +148% YoY
🔹 Free Cash Flow: $2.78B; +88% YoY
Announcements:
🔹 Debt Milestone: $10.0B principal debt; reduced debt by $1.8B
🔹 Worldwide Production: 1,427 Mboed (Est. 1,417 Mboed) 🟢; -3% YoY
🔹 Operating Cash Flow: $4.1B from continuing operations
Segment Performance:
🔹 Oil & Gas: $2.6B pre-tax income
🔹 Midstream & Marketing: $55M pre-tax income
Other Q3 Metrics:
🔹 Worldwide Realized Oil: $85.91/barrel
🔹 Adjusted Oil & Gas: $2.67B
🔹 Adjusted Midstream & Marketing: $309M
Capital Return:
🔹 Dividend: $0.28/share
🔹 Treasury Stock Purchases: $90M
🔹 Debt Paydown: $1.8B
Key Updates:
🔹 Derivatives losses drove the difference between GAAP and adjusted results; $(0.30) EPS adjustment
Comments:
🔸 “We reached an important milestone in the third quarter, reducing principal debt to $10.0 billion after retiring $10.4 billion of debt since the beginning of this year”
🔸 “With our stronger balance sheet, we are advancing our plan to add more than $4.0 billion in annual sustainable cash flow by 2030, providing a pathway to accelerate capital returns and deliver durable long-term value for our shareholders.”
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