The earnings call highlighted strong operating cash flow, significant debt reduction, and advancements in their carbon capture initiatives. However, there were challenges with lower oil prices, underperformance in the OxyChem segment, and production issues in the Gulf of America.

Company Guidance

In Occidental's Second Quarter 2025 Earnings Conference Call, the company provided guidance indicating strong operational performance with several key metrics. The company reported $2.6 billion in operating cash flow for the quarter, which contributed to more operating cash flow in the first half of 2025 than in the same period of 2024, despite a $11 per barrel decrease in WTI oil prices. Occidental achieved a significant milestone with its STRATOS project, set to start capturing CO2 within the year, which aligns with the growing interest in Direct Air Capture. The oil and gas production exceeded expectations at 1.4 million BOE per day, with particular strength in the Rockies and Oman. The company also highlighted a 13% reduction in Permian unconventional well costs compared to 2024, driven by operational efficiencies, and announced $950 million in additional divestitures, bringing total announced divestitures to nearly $4 billion since January 2024. This, along with cash flow, enabled Occidental to repay $7.5 billion of debt since the CrownRock acquisition. For the third quarter, the company expects total production to range between 1.42 million and 1.46 million BOE per day. The guidance also included a revised OxyChem full-year guidance range and an update on the Midstream & Marketing segment, which outperformed expectations.

Strong Operating Cash Flow

Occidental delivered $2.6 billion of operating cash flow in the second quarter, exceeding last year's performance despite lower oil prices.

Significant Debt Reduction

Repayment of $7.5 billion of debt, achieving a 70% reduction of the debt raised for the CrownRock acquisition, well ahead of target.

STRATOS Milestone

STRATOS achieved a significant milestone with Trains 1 & 2 moving to operations, on track to start capturing CO2 this year.

Cost Management

Operating cost reductions offset costs associated with increased production, maintaining absolute operating costs despite increased production.

Midstream & Marketing Segment Outperformance

Generated positive earnings on an adjusted basis, outperforming guidance due to improved crude marketing margins and gas marketing optimization.

Additional Commercial Agreements

Signed agreements for carbon removal sales with JPMorgan and Palo Alto Networks, with majority volumes through 2030 now contracted.

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
Nov 18, 2025	2025 (Q3)	0.46 / -	1	―	―	―
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)
Aug 02, 2023	2023 (Q2)	0.73 / 0.68	3.16	-78.48% (-2.48)

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
Aug 06, 2025	$42.54	$43.59	+2.47%
May 07, 2025	$38.79	$41.21	+6.24%
Feb 18, 2025	$48.32	$50.45	+4.41%
Nov 12, 2024	$49.53	$50.35	+1.66%

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.