Occidental Petroleum Corporation: Mixed — EPS $1.91, Revenue $6.57B
Mixed ResultQ3 2026 · After-market
Did Occidental Petroleum Corporation (OXY) beat earnings today?
It was a mixed report for Q3 2026 — Occidental Petroleum Corporation (OXY) beat on EPS but missed on revenue.
Earnings Per Share+29.93% surprise
$1.91Actual
Expected: $1.47
vs. year ago +274.5%
Total Revenue-4.69% surprise
$6.57BActual
Expected: $6.89B
vs. year ago +19.0%
Released Nov 09 · 4:14 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $6.57B | $5.52B | +19.0% |
| Revenue detail — reported lines | |||
| └─Oil & Gas | $6.44B | $5.40B | +19.1% |
| └─Midstream & Marketing | $262.00M | $265.00M | -1.1% |
| └─Eliminations | $(133)M | $(150)M | +11.3% |
| Net Income | $1.64B | $661.00M | +147.7% |
| GAAP Basic EPS | $1.63 | $0.67 | +143.3% |
| GAAP Diluted EPS | $1.61 | $0.65 | +147.7% |
| Adjusted Diluted EPS | $1.91 | $0.51 | +274.5% |
Business Highlights
- ➤Reduced principal debt to $10.0B after retiring $10.4B year to date.
- ➤Produced 1,427 Mboed globally, exceeding the guidance midpoint.
- ➤Permian and Rockies performance led global production.
- ➤Gulf of America facilities experienced temporary curtailments from a third-party pipeline constraint and maintenance.
- ➤Midstream and marketing adjusted results exceeded the high end of guidance.
- ➤WES equity-method investment income was $121M.
- ➤Advancing a plan to add more than $4.0B in annual sustainable cash flow by 2030.
- ➤Leverages global carbon-management leadership to advance lower-carbon technologies and products.
Management Commentary
Richard Jackson, President and Chief Executive Officer
“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. Our teams delivered another strong quarter, building on the operational and financial performance we have seen throughout 2026. 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.”