Occidental demonstrated strong performance with record production, successful debt reduction, and significant cash flow generation. Strategic advancements in carbon management and reserve replacement further highlight the company's strengths. However, challenges such as environmental liabilities, weather impacts on production, and expected declines in midstream earnings present concerns. Overall, positive achievements outweigh the challenges.

Company Guidance

During the Occidental Petroleum Corporation's Fourth Quarter 2024 Earnings Conference Call, the company provided guidance for the upcoming year. The company plans to invest between $7 billion and $7.2 billion in its energy and chemicals business for 2025, with a focus on short-cycle, high-return assets. Full-year production is expected to average 1.42 million barrels of oil equivalent (BOE) per day, representing mid-single-digit growth from 2024. The company aims to maintain strategic priorities such as debt reduction, with $1.2 billion in divestiture proceeds allocated for this purpose. Additionally, Occidental plans to increase its common dividend by 9%. Its OxyChem business is projected to generate over $1 billion in pre-tax income, while the midstream segment is expected to benefit from revised crude transportation contracts. The company also highlighted operational efficiencies, reporting a 9% reduction in lease operating expenses per barrel and a 12% decrease in bulk costs.

Record US Oil Production

Occidental achieved the highest annual US oil production and record total production of 1.33 million BOE per day in 2024, exceeding the upper end of full-year guidance.

Debt Reduction Ahead of Schedule

The company achieved its near-term debt repayment target of $4.5 billion seven months ahead of schedule, demonstrating strong financial management.

Significant Cash Flow Generation

In 2024, Occidental generated $4.9 billion of free cash flow, enabling $800 million in common dividends.

Reserve Replacement Success

Occidental increased its year-end proved reserve balance to 4.6 billion BOE, achieving a reserves replacement ratio of 230% for 2024.

OxyChem Business Outperformance

The OxyChem segment exceeded original guidance, achieving over $1.1 billion in pre-tax income in 2024.

Innovative Carbon Management Initiatives

Strategic advancements in Direct Air Capture (DAC) technology, including foundational Carbon Dioxide Removal (CDR) agreements and US Department of Energy funding for the South Texas DAC hub.

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Occidental Petroleum (DE:OPC) Earnings, Revenues Date & History

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DE:OPC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2025	2025 (Q1)	0.72 / -	0.601	―	―	―
Feb 18, 2025	2024 (Q4)	0.65 / 0.76	0.706	8.11% (+0.06)
Nov 12, 2024	2024 (Q3)	0.71 / 0.95	1.125	-15.25% (-0.17)
Aug 07, 2024	2024 (Q2)	0.74 / 0.98	0.648	51.47% (+0.33)
May 07, 2024	2024 (Q1)	0.55 / 0.60	1.039	-42.20% (-0.44)
Feb 14, 2024	2023 (Q4)	0.64 / 0.71	1.535	-54.04% (-0.83)
Nov 07, 2023	2023 (Q3)	0.84 / 1.13	2.328	-51.66% (-1.20)
Aug 02, 2023	2023 (Q2)	0.69 / 0.65	3.013	-78.48% (-2.36)
May 09, 2023	2023 (Q1)	1.19 / 1.04	2.022	-48.58% (-0.98)
Feb 27, 2023	2022 (Q4)	1.72 / 1.54	1.411	8.78% (+0.12)

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

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DE:OPC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 18, 2025	€46.66	€49.47	+6.01%
Nov 12, 2024	€47.66	€46.66	-2.10%
Aug 07, 2024	€51.65	€53.09	+2.78%
May 07, 2024	€59.82	€59.26	-0.92%

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.

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