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Occidental Petroleum Corp. (CH:OPC)
:OPC
Earnings Data
Report Date
Aug 05, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
0.31Last Year’s EPS
0.85Same Quarter Last Year
Based on 19 Analysts Ratings
Earnings Call Summary
Earnings Call Date:May 07, 2025
|% Change Since: ―
|Next Earnings Date:Aug 05, 2025
Earnings Call Sentiment|Positive
Occidental reported strong operational efficiency and cash flow with significant debt reduction and promising developments in Oman. Despite challenges such as market volatility, commodity price pressures, and chemical business headwinds, the company's strategic focus on cost management and carbon management initiatives provides a solid foundation for future growth.Company Guidance
During Occidental's First Quarter 2025 Earnings Conference Call, the company provided detailed guidance on several key metrics. The oil and gas segment achieved a production rate of just over 1.39 million barrels of oil equivalent (BOE) per day, aligning with the midpoint of their guidance. Operating costs for domestic oil and gas came in at $9.05 per BOE, significantly below expectations. In the Permian Basin, drilling efficiency improved by 15% year-over-year, leading to a 10% reduction in unconventional well costs. This efficiency allowed Occidental to reduce its rig count while still expecting increased production. The company also announced advanced negotiations to extend the Block 53 contract in Oman, potentially unlocking over 800 million gross barrels of additional resources. Occidental's midstream and marketing business outperformed expectations, driven by gas marketing optimization. The OxyChem segment exceeded expectations, delivering $215 million on an adjusted basis despite operational challenges. Looking ahead, the company has reduced its 2025 capital guidance by $200 million and projects $150 million in operational expense savings, aiming to enhance financial resilience amidst market volatility.Strong Cash Flow and Operational Efficiency
Generated $3 billion in operating cash flow before working capital in Q1 2025. Domestic oil and gas operating cost of $9.05 per BOE came in substantially below expectations.
Improvements in Drilling Efficiency
Achieved a 15% improvement in drilling duration per well in the Permian, with a more than 10% reduction in well costs compared to last year.
Significant Debt Reduction
Retired $2.3 billion in debt year-to-date, reducing annual interest expense by $370 million. Over the past 10 months, repaid a total of $6.8 billion.
Oman Contract Extension and Discoveries
In advanced negotiations to extend Block 53 contract by 15 years, unlocking over 800 million barrels of resources. Recent significant gas and condensate discovery in North Oman with estimated resources exceeding 250 million barrels of oil equivalent.
Midstream and Marketing Outperformance
Midstream business outperformed the high end of guidance range due to strong gas marketing optimization and healthy sulfur market.
Carbon Management Milestone
Signed a 25-year carbon offtake agreement supporting the storage of approximately 2.3 million metric tons of CO2 annually, illustrating demand for large-scale carbon management solutions.
CH:OPC Earnings History
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
CH:OPC Earnings-Related Price Changes
No data currently available
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.
FAQ
When does Occidental Petroleum Corp. (CH:OPC) report earnings?
Occidental Petroleum Corp. (CH:OPC) is schdueled to report earning on Aug 05, 2025, TBA Not Confirmed.
What is Occidental Petroleum Corp. (CH:OPC) earnings time?
Occidental Petroleum Corp. (CH:OPC) earnings time is at Aug 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Occidental Petroleum Corp. stock?
The P/E ratio of Occidental Petroleum is N/A.
What is CH:OPC EPS forecast?
CH:OPC EPS forecast for the fiscal quarter 2025 (Q2) is 0.31.
