Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United ...
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$1.00 per share
Est. EPS $1.22 · Revenue $6.37B · 11 analysts
$1.00 per share
Est. EPS $1.29 · Revenue $6.46B · 11 analysts
EPS $0.77 · Revenue $6.80B
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $21.6B | -20.3% | +59.2% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $2.4B | -22.1% | -11.0% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +33.8% | -5.1% | +583.5% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +17.2% | -21.7% | +533.3% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +11.0% | -2.3% | -44.1% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $4.1B | -7.1% | +1008.4% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +19.0% | +16.5% | +670.5% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 66.5% | -16.2% | -13.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.94x | -1.7% | +16.6% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $86.8B | +1.6% | -0.1% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.61 vs 2.09 | -22.9% | 2.75 vs 1.22 | +125.6% |
| Revenue Surprise | $21.6B vs $25.7B | -15.8% | $8.3B vs $6.4B | +30.7% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 1, 2026 | POLLACK BRAD | officer: SVP & General Counsel | Common Stock | A | 26,284 | — |
| Aug 1, 2026 | POLLACK BRAD | officer: SVP & General Counsel | Common Stock | — | 0 | — |
| Aug 1, 2026 | POLLACK BRAD | officer: SVP & General Counsel | Common Stock | — | 0 | — |
| Jun 23, 2026 | Jackson Richard A. | director, officer: President and CEO | Common Stock | A | 4,770 | $52.38 |
| Jun 1, 2026 | Jackson Richard A. | director, officer: President and CEO | Common Stock | A | 101,833 | — |
Operator: Good afternoon, and welcome to Occidental's Second Quarter 2026 Earnings Conference Call. Please note, this event is being recorded. I would now like to turn the conference over to Babatunde Cole, Vice President of Investor Relations. Please go ahead. Babatunde Cole: All right. Thank you, Gary, and good afternoon, everyone, and thank you for participating in Occidental's Second Quarter 2026 Earnings Conference Call. On the call with us today are Richard Jackson, President and Chief Executive Officer; Sunil Mathew, Senior Vice President and Chief Financial Officer; and Ken Dillon, Senior Vice President and President, International Oil and Gas Operations. This afternoon, we will refer to slides available on the Investors section of our website. The presentation includes a cautionary statement on Slide 2 regarding forward-looking statements that will be made on this call this afternoon. We'll also reference a few non-GAAP financial measures today. Reconciliations to the nearest corresponding GAAP measure can be found in the schedules to our earnings release and on our website. I will now turn the call over to Richard. Richard Jackson: Okay. Thank you, Babatunde, and thank you all for joining us today. Last quarter, as I started into my new role, I shared our focus looking forward was on execution and delivery from our advantaged resource position. The last few months have been productive, and we continue to deliver strong 2026 results. We were also able to advance our plans for sustainable cash flow growth, and I look forward to sharing updates on both with you today. To start, I want to frame simply how we think about our approach to value. For us, creating value is measured by our ability to increase both the return on and the return of capital through the cycle. To ensure we are centered on fundamentals to deliver this value, we are focused on four priorities: executing from a strong balance sheet, organically improving our resources, continuing to drive cost efficiencies and generating differentiated cash flow. This year, we are making strong progress on each. We have already reduced our principal debt to $11.8 billion. Our accelerated debt reduction lowers our go-forward annualized interest by approximately $630 million compared to 2025 interest payments. This structural savings helped enable an additional 8% increase to the quarterly dividend this year as approved by our Board and announced yesterday. We also remain on track with our 2026 cost savings targets, while operational efficiencies delivered another production beat in the second quarter. Taken together, we expect to deliver more than the targeted $1.2 billion of free cash flow improvement for this year before the impact of higher oil prices. Looking ahead, we see a clear pathway to add over $4 billion of annual sustainable cash flow by 2030. This represents an approximate 95% annualized growth compared to 2025. Importantly, this increase is driven by durable improvements …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Richard A. Jackson | President, Chief Executive Officer & Director | USD 2,300,426 | Male | 1976 | Active |
Kenneth Dillon | Senior Vice President and President of International Oil & Gas Operations | USD 2,186,665 | Male | 1960 | Active |
Sunil Mathew | Senior Vice President & Chief Financial Officer | USD 2,073,093 | Male | 1971 | Active |
Jeff F. Simmons | Senior VP of Subsurface Technology and Chief Petrotechnical Officer | USD 2,006,264 | Male | 1960 | Active |
Robert L. Peterson | Executive Vice President of Essential Chemistry of OxyChem | USD 1,994,067 | Male | 1971 | Active |
Christopher O. Champion | Vice President, Chief Accounting Officer & Controller | USD 1,565,275 | Male | 1970 | Active |
Brad D. Pollack | Senior Vice President & General Counsel | — | Male | 1982 | Active |
Nicole E. Clark | Vice President, Deputy General Counsel, Corporate Secretary & Chief Compliance Officer | — | Female | 1970 | Active |
Babatunde Cole | Vice President of Investor Relations | — | Male | — | Active |
Darin S. Moss | Vice President of Human Resources | — | Male | — | Active |
Sylvia Kerrigan | Senior Vice President & Chief Legal Officer | — | Female | 1965 | Active |
Ioannis A. Charalambous | Chief Information Officer & Vice President | — | Male | — | Active |
Occidental Petroleum NYSE: OXY reported second-quarter results that exceeded its production guidance and produced its highest quarterly free cash flow since the third quarter of 2022, while outlining a plan to add more than $4 billion in annual sustainable cash flow by 2030.
Occidental targets more than $4B in annual sustainable cash flow gains by 2030, backed by lower costs, capital needs and a stronger balance sheet.
Higher oil prices boosted Occidental's second-quarter profits. The energy exploration company is prudently paying down debt.
Richard Jackson, Occidental Petroleum CEO and president, joins 'Power Lunch' to discuss the company's quarterly profit, which sailed to its highest since 2022.
U.S. oil producer Occidental Petroleum said on Thursday it expects flat production and capital spending in 2027, adding that it would continue to prioritize debt-reduction efforts.
