OXY Earnings Prediction
The chart below shows how OXY performed 10 days before and after its earnings report, based on data from the past quarters. Typically, OXY sees a +1.36% change in stock price 10 days leading up to the earnings, and a +5.58% change 10 days following the report. On the earnings day itself, the stock moves by -0.28%. This data can give you a slight idea of what to expect for the next quarter's release.
OXY Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
7.17B
0.21%
5.22%
Gross Margin
38.25%
1.70%
2.33%
Operating Margin
25.50%
7.96%
8.83%
Net Margin
15.89%
-17.28%
-7.40%
EPS
0.98
-19.01%
-4.85%
No Data Available
OXY Earnings Analysis
Occidental Petroleum Corporation Corporation (OXY.N) Earnings Conference Call
Positive
Free Cash Flow Achievement: 1. Record Free Cash Flow: Generated $1.5 billion of free cash flow before working capital, exceeding guidance across all segments.
Record Quarterly Production: 2. Highest Quarterly Production: Achieved the highest quarterly U.S. production in company history, driven by strong new well performance and higher uptime in the Permian Basin.
Debt Repayment Achievement: 3. Significant Debt Reduction: Repaid $4 billion in debt during the third quarter, nearly 90% of the near-term commitment, well ahead of schedule.
Cost Reduction Achievement: 4. Cost Management Success: Reduced domestic lease operating expenses to $8.68 per barrel, the lowest since Q1 2022, demonstrating operational strength.
Production Guidance Increase: 5. Increased Production Guidance: Raised fourth quarter total company production guidance to a midpoint of 1.45 million BOE per day, reflecting sustained well performance and operational momentum.
Negative
Gulf Production Decline: 1. Production Shortfall in Gulf of Mexico: Production in the Gulf of Mexico fell below guidance due to unplanned downtime from hurricane-related activity, impacting overall output.
Asset Sale Loss Impact: 2. Loss from Asset Sales: The company reported a loss from the sale of down-operated U.S. onshore acreage, which negatively affected adjusted profit figures.
Capital Expenditure Reduction: 3. Increased Capital Expenditure: The anticipated capital expenditure for 2025 is projected to be $450 million lower than 2024, indicating a reduction in investment despite operational needs.
Oil Mix Decline: 4. Declining Oil Mix: The oil mix in the Permian dropped from 58-59% to 55%, reflecting a shift towards lower oil cut production due to increased secondary bench development.
Debt Management Issues: 5. Debt Reduction Challenges: Despite repaying $4 billion in debt, the company faces ongoing challenges in maintaining a strong balance sheet amid fluctuating commodity prices and operational costs.
OXY FAQs
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OXY Earning Call Sentiment
Occidental Petroleum Corporation (OXY) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
OXY.N
0.59%Positive
The earnings call highlights strong financial performance with increased free cash flow, successful debt repayment, and operational efficiency. The acquisition of CrownRock and its integration are progressing, and there is a clear commitment to debt reduction. Despite some concerns about macroeconomic conditions and unclear management responses, the overall sentiment remains positive due to strong operational performance and optimistic guidance, particularly in debt management and production levels.