Occidental Petroleum (OXY) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 12, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.22

Last Year’s EPS

0.87

Same Quarter Last Year

Analyst Consensus

Hold

Based on 15 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 18, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized strong operational execution, significant cost and capital efficiency gains, record production, robust free cash flow generation, and meaningful deleveraging progress—backed by clear targets for additional savings, lower sustaining capital, and an 8% dividend increase. Near‑term challenges include lower realized oil prices, a GAAP Q4 loss driven by transaction charges, remaining leverage and planned Q1 working capital/turnaround impacts, plus execution and timing risk for STRATOS and midstream normalization. On balance, the positives — outsized operational results, structural cost reductions, reserve/resource strength, and disciplined capital priorities — materially outweigh the near‑term and execution risks.

Company Guidance

Occidental guided 2026 capital at $5.5–$5.9 billion (midpoint ~8% below 2025 excl. OxyChem), with sustaining capital roughly $4.1 billion at $40/bbl and ~70% of oil & gas spend focused on U.S. onshore; they expect average production of ~1.45 million BOE/d (≈1% growth) despite the lower spend, with Q1 volumes down seasonally and from winter impacts and a recovery in Q2. Management forecasted $500 million of oil & gas savings in 2026 (≈$300M capex, $200M opex/transport), $400 million of midstream savings, ~ $365 million of interest savings, and overall free‑cash‑flow improvement of >$1.2 billion; they plan to reduce U.S. onshore capex by ~$400M, raise mid‑cycle investment by ~$200M (GOA waterflood, Permian EOR, international), cut exploration by ~$100M, lower LCV spend as STRATOS ramps (Ph1/Ph2 commissioning in Q2) and pursue opportunistic buybacks while targeting further net debt reductions (principal debt ~$15B today, $700M tender to ~$14.3B) and an 8% higher quarterly dividend.

Strong Free Cash Flow and Cash Flow Growth

Generated $4.3 billion in free cash flow before working capital in 2025; on a normalized basis excluding OxyChem, cash flow from operations increased ~27% year‑over‑year.

Record Production

Set a new annual production record of ~1.434 million BOE/day (reported as 1.4–1.43MM BOE/day) in 2025 and guidance for ~1.45MM BOE/day in 2026 (≈1% growth year‑over‑year).

Balance Sheet Deleveraging

Repaid $4.0 billion of debt in 2025; principal debt reduced to ~$15.0 billion post‑OxyChem sale and a $700 million tender offer announced to target ~$14.3 billion principal debt (down ≈40% since year‑end 2024 on announced actions over the period).

Material Cost and Capital Efficiency Improvements

Reduced annual operating expenses by $275 million; total spending cut by $575 million in 2025; oil & gas capital spending $300 million lower than originally planned. U.S. new well capital costs down ~15% year‑over‑year (Permian down 16%, Rockies down 13%).

Reserves and Resource Base Expansion

Achieved 107% organic reserves replacement and 98% all‑in reserves replacement in 2025 with finding & development costs below DD&A. Total resource base at 16.5 billion BOE (up from 8.0B BOE in 2015) with ~84% of resource breakeven below $50/boe and average resource breakeven ~ $38/barrel.

Midstream Outperformance and Operational Reliability

Midstream adjusted pretax income beat guidance (year: >$500M above midpoint; Q4 beat ~$172M) driven by Permian gas marketing optimization and higher sulfur prices at Al Hosn. Multiple regions delivered record uptimes and record safety performance.

Sustained Structural Savings and 2026 Efficiency Targets

Since 2023 achieved roughly $2.0 billion in annual oil & gas cost savings; targeting an incremental ~$500 million of oil & gas savings in 2026 ($300M capex, $200M opex/transportation) plus ~$400M midstream savings, and ~ $365M interest expense savings in 2026 vs 2025. 2026 capex guidance $5.5B–$5.9B, a $550M reduction vs 2025 ex‑OxyChem.

Shareholder Returns and Capital Priorities

Announced an 8% increase to the quarterly dividend and signaled opportunistic, disciplined approach to share repurchases and further net debt reduction while prioritizing sustainable/growing dividend policy.

Technology and Operational Enhancements

Expanded Remote Operations Command Centers (Gulf of America complements Rockies and Permian centers), leveraged AI/remote monitoring (resolved ~300 winter‑storm issues/day remotely in Rockies), and progressing STRATOS low‑carbon project (Phase 1/2 commissioning/ramp in 2026).

Occidental Petroleum (OXY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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OXY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 12, 2026	2026 (Q1)	0.22 / -	0.87	―	―	―
Feb 18, 2026	2025 (Q4)	0.17 / 0.31	0.8	-61.25% (-0.49)
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)

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
Feb 18, 2026	$47.11	$51.53	+9.38%
Nov 10, 2025	$41.56	$41.61	+0.12%
Aug 06, 2025	$42.07	$43.11	+2.47%
May 07, 2025	$38.36	$40.75	+6.23%

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.