The earnings call primarily highlighted Occidental's strong operational performance, with record production levels and significant cost savings. The company's strategic sale of OxyChem is set to further strengthen its financial position by reducing debt. However, challenges in international production and underperformance in the OxyChem segment were noted.

Company Guidance

During Occidental's Third Quarter 2025 Earnings Conference Call, the company provided guidance indicating a strong operational performance with significant financial metrics. They reported generating $3.2 billion in operating cash flow and $1.5 billion in free cash flow before working capital for the third quarter. The company also achieved a record production of approximately 1.47 million barrels of oil equivalent per day, surpassing the high end of their guidance range. In particular, the Permian Basin reached its highest production level at 800,000 BOE per day. Occidental plans to use the proceeds from the sale of OxyChem to strengthen its balance sheet by reducing its principal debt to less than $15 billion, thereby enhancing financial flexibility and return on capital. They aim to maintain a capital expenditure range between $6.3 billion and $6.7 billion for 2026, with a focus on high-return projects and operational efficiency, targeting a $55 to $60 WTI oil price scenario.

Record Production in Permian Basin

The Permian Basin contributed 800,000 BOE per day, marking the highest quarterly Permian production in Oxy's history.

Strong Operational Performance

Generated $3.2 billion in operating cash flow and $1.5 billion in free cash flow before working capital.

Debt Reduction and Financial Resilience

Repayment of $1.3 billion of debt, reducing Occidental's principal debt balance to $20.8 billion. The sale of OxyChem will accelerate debt reduction to below $15 billion.

Midstream and Marketing Segment Success

The segment generated positive adjusted earnings of $153 million, surpassing guidance due to strategic gas marketing and higher sulfur prices.

Expanded Permian Resource Base

Expanded Permian resource base by 2.5 billion BOE, now representing approximately 70% of Oxy's total resources.

Cost Efficiency Achievements

Reduced capital expenditures by $300 million and operating costs by $170 million, achieving $2 billion in annualized cost savings since 2023.

Occidental Petroleum (OXY) Earnings, Revenues Date & History

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OXY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 25, 2026	2025 (Q4)	0.42 / -	0.8	―	―	―
Nov 10, 2025	2025 (Q3)	0.51 / 0.64	1	-36.00% (-0.36)
Aug 06, 2025	2025 (Q2)	0.30 / 0.39	1.03	-62.14% (-0.64)
May 07, 2025	2025 (Q1)	0.78 / 0.87	0.63	38.10% (+0.24)
Feb 18, 2025	2024 (Q4)	0.68 / 0.80	0.74	8.11% (+0.06)
Nov 12, 2024	2024 (Q3)	0.74 / 1.00	1.18	-15.25% (-0.18)
Aug 07, 2024	2024 (Q2)	0.78 / 1.03	0.68	51.47% (+0.35)
May 07, 2024	2024 (Q1)	0.58 / 0.63	1.09	-42.20% (-0.46)
Feb 14, 2024	2023 (Q4)	0.67 / 0.74	1.61	-54.04% (-0.87)
Nov 07, 2023	2023 (Q3)	0.88 / 1.18	2.44	-51.64% (-1.26)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

OXY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 10, 2025	$41.80	$41.85	+0.12%
Aug 06, 2025	$42.31	$43.36	+2.48%
May 07, 2025	$38.59	$40.99	+6.22%
Feb 18, 2025	$48.06	$50.18	+4.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.