Jun 2026 (Q2 FY26) — Aug 6, 2026
Occidental Petroleum Q2 FY26 — Strong Operational Performance and $4 Billion Sustainable Cash Flow Growth Plan
Read the full callOccidental Petroleum (OXY) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Occidental Petroleum earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 8,065 | +53.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
15 of 16 judged targets kept · 35 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| King field water dump flood on stream | Q2 2026 | Sep 2025 | Marlin King water dump flood was completed in the last quarter and is already on stream. | Achieved |
| Annual interest expense reduction versus 2025 | more than $350 million | Sep 2025 | This brings our go-forward annual interest run rate to approximately $760 million, which is approximately $630 million lower than our interest payment in 2025. | Revised Up |
| Annual sustainable cash flow improvement versus 2025 | over $4 billion | Jun 2026 | Looking ahead, we see a clear pathway to add over $4 billion of annual sustainable cash flow by 2030. | New |
1 of OCCIDENTAL PETROLEUM CORP /DE/'s 51 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 48 more targets are in the full ledger.
Claimed
- Generated approximately $3 billion of free cash flow before working capital, the highest since Q3 2022.
- Total production averaged 1.43 million BOE per day, exceeding the high end of guidance by 23,000 BOE per day.
- Midstream and Marketing adjusted pretax income reached a new record of approximately $960 million, more than double the midpoint of guidance.
- Reduced principal debt by $1.5 billion to $11.8 billion, the lowest level since Q2 2019.
- Board approved an 8% increase to the quarterly dividend, raising it to $0.28 per share.
Qualified
- Lower international volumes due to Middle East disruptions impacted Q2 production.
- Third quarter production in the Rockies expected to decline due to activity timing.
- Planned shift in maintenance timing and weather contingency expected to impact Gulf of America Q3 production.
- Midstream and Marketing income expected to decline in Q3 due to narrowing Waha to Gulf Coast natural gas spread.
Price
$62.72 +0.55% · +$0.34
Performance +53.3% 1Y
1Y: $40.9 on 17 Oct 2025 → $62.72. High $66.24 (30 Mar 2026), low $38.92 (16 Dec 2025).
- Previous close
- $62.38
- 52-week range
- $38.92 – $66.24
- One year
- +52.86%
Overview
- Symbol
- OXY
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
15 of 16 judged targets kept · 35 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| King field water dump flood on stream | Q2 2026 | Sep 2025 | Marlin King water dump flood was completed in the last quarter and is already on stream. | Achieved |
| Annual interest expense reduction versus 2025 | more than $350 million | Sep 2025 | This brings our go-forward annual interest run rate to approximately $760 million, which is approximately $630 million lower than our interest payment in 2025. | Revised Up |
| Annual sustainable cash flow improvement versus 2025 | over $4 billion | Jun 2026 | Looking ahead, we see a clear pathway to add over $4 billion of annual sustainable cash flow by 2030. | New |
Claimed
- Generated approximately $3 billion of free cash flow before working capital, the highest since Q3 2022.
- Total production averaged 1.43 million BOE per day, exceeding the high end of guidance by 23,000 BOE per day.
- Midstream and Marketing adjusted pretax income reached a new record of approximately $960 million, more than double the midpoint of guidance.
- Reduced principal debt by $1.5 billion to $11.8 billion, the lowest level since Q2 2019.
- Board approved an 8% increase to the quarterly dividend, raising it to $0.28 per share.
Qualified
- Lower international volumes due to Middle East disruptions impacted Q2 production.
- Third quarter production in the Rockies expected to decline due to activity timing.
- Planned shift in maintenance timing and weather contingency expected to impact Gulf of America Q3 production.
- Midstream and Marketing income expected to decline in Q3 due to narrowing Waha to Gulf Coast natural gas spread.
The full ledger
Open OCCIDENTAL PETROLEUM CORP /DE/’s full ledger
A free account opens 5 company ledgers a month. All 51 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Occidental Petroleum Q1 FY26 — Strong Operational Execution and Deleveraging Progress
Read the full callDec 2025 (Q4 FY25) — Feb 19, 2026
Occidental Petroleum Corporation Q4 FY25 — Record Production & Significant Debt Reduction
Read the full callEvery analysed call
Occidental Petroleum earnings calls (OXY)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7,173 | 6,760 | 5,704 | 5,258 | 6,624 | 1,752 | 5,230 | 8,065 |
| Other income | 166 | 153 | 114 | -4 | 170 | -257 | 136 | 134 |
| Profit before tax | 1,594 | -169 | 1,177 | 560 | 1,166 | -108 | 390 | 3,915 |
| Tax rate | 28.5% | 29.0% | 29.5% | 39.6% | 27.8% | −37.0% | 39.5% | 23.4% |
| EPS ($ per share) | 1.03 | — | 0.81 | 0.27 | 0.67 | — | 3.19 | 2.80 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 179 | 209 | 216 | 217 | 220 | 222 | 233 | 243 |
| Reserves | 23,750 | 20,180 | 2,996 | 4,480 | 16,499 | 19,626 | 21,189 | 21,891 |
| Total liabilities | 20,829 | 72,958 | 61,491 | 54,709 | 42,524 | 43,659 | 50,965 | 47,588 |
| Fixed assets | 31,437 | 82,230 | 65,889 | 59,930 | 58,384 | 55,494 | 65,863 | 63,643 |
| Total assets | 42,159 | 107,190 | 80,064 | 75,036 | 72,609 | 74,008 | 85,445 | 84,186 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 7,669 | 7,375 | 3,955 | 10,434 | 16,810 | 12,308 | 11,439 | 10,532 |
| Cash from investing | -3,206 | -29,027 | -819 | -1,253 | -4,872 | -6,980 | -14,590 | -5,799 |
| Cash from financing | -3,102 | 22,193 | -4,516 | -8,572 | -13,715 | -4,890 | 3,844 | -4,844 |
| Net cash flow | 1,361 | 541 | -1,380 | 609 | -1,777 | 438 | 693 | -111 |
| Capital expenditure | -4,975 | -6,367 | -2,535 | -2,870 | -4,497 | -5,696 | -6,263 | -6,427 |
| Free cash flow | 2,694 | 1,008 | 1,420 | 7,564 | 12,313 | 6,612 | 5,176 | 4,105 |
OXY revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Oil and Gas | 79% | 84% | 82% | 78% | 81% | 303% | 95% | 96% | +35.3% |
| Midstream and Marketing | 4% | 4% | 5% | 5% | 5% | 16% | 7% | 6% | +26.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
OXY operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Production Oil and Gas | 1.46M boe/dIn our Oil and Gas segment, global production during the fourth quarter was 1.46 million BOE per day, outperforming the midpoint of guidance by 13,000 BOE per day.Source: earnings call transcript | 1.39M boe/d+Our oil and gas business produced at just over 1.39 million BOE per day.Source: earnings call transcript | 1.4M boe/dIn the second quarter, our oil and gas business produced 1.4 million BOE per day, exceeding the midpoint of our production guidance.Source: earnings call transcript | ~1.47M boe/dIn the third quarter, our oil and gas business produced approximately 1.47 million barrels of oil equivalent per day, exceeding the high end of our guidance range.Source: earnings call transcript | 1.426M boe/dWe delivered 1.426 million BOE per day production, a 21,000 BOE per day [indiscernible] against the midpoint of guidance, largely driven by strong new well performance and uptime across our domestic portfolio.Source: earnings call transcript | 1.43M boe/dTotal production for the quarter averaged 1.43 million BOE per day, exceeding the midpoint of guidance by 23,000 BOE per day.Source: earnings call transcript | +0.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 83% ↓ 2 pt
- Non Us 19% ↑ 3 pt
As OXY cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
56 filings between Dec 16, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
$444.8K
2 purchases by 2 insiders
Sales
None
No insider sold shares.
Compensation
not trading decisions- 25
- Award — granted as compensation
- 21
- Tax withheld — shares kept back by the company to cover tax
Also filed: 8 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Jackson Richard A. | $249.9K | — | Jun 23, 2026 |
| KLESSE WILLIAM R | $194.9K | — | Dec 16, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Jackson Richard A. President and CEO | Tax withheld | 4,124 | $228.1K |
| Sep 25, 2026 | Hollub Vicki A. Director | Gift | 90,000 | $0 |
| Aug 1, 2026 | POLLACK BRAD SVP & General Counsel | Award | 26,284 | $0 |
| Jun 23, 2026 | Jackson Richard A. President and CEO | Purchase | 4,770 | $249.9K |
| Jun 1, 2026 | Hollub Vicki A. Director | Award | 3,183 | $0 |
| Jun 1, 2026 | Jackson Richard A. President and CEO | Award | 101,833 | $0 |
| Jun 1, 2026 | Hollub Vicki A. Director | Tax withheld | 701 | $41.3K |
| Jun 1, 2026 | Hollub Vicki A. Director | Tax withheld | 73,477 | $4.33M |
| May 4, 2026 | Shearer Bob Director | Award | 3,734 | $0 |
| May 4, 2026 | Robinson Kenneth B. Director | Award | 4,149 | $0 |
| May 4, 2026 | GUTIERREZ CARLOS M Director | Award | 3,734 | $0 |
| May 4, 2026 | MOORE JACK B Director | Tax withheld | 1,479 | $89.1K |
| May 4, 2026 | KLESSE WILLIAM R Director | Award | 4,149 | $0 |
| May 4, 2026 | MOORE JACK B Director | Award | 6,720 | $0 |
| May 4, 2026 | GOULD ANDREW Director | Tax withheld | 1,494 | $90.0K |
| May 4, 2026 | BAILEY VICKY A Director | Tax withheld | 1,223 | $73.7K |
| May 4, 2026 | ONeill Claire Director | Award | 3,734 | $0 |
| May 4, 2026 | BAILEY VICKY A Director | Award | 3,734 | $0 |
| May 4, 2026 | Robinson Kenneth B. Director | Tax withheld | 913 | $55.0K |
| May 4, 2026 | POLADIAN AVEDICK BARUYR Director | Award | 4,149 | $0 |
| May 4, 2026 | KLESSE WILLIAM R Director | Tax withheld | 913 | $55.0K |
| May 4, 2026 | GOULD ANDREW Director | Award | 4,978 | $0 |
| Apr 14, 2026 | POLADIAN AVEDICK BARUYR Director | Gift | 5,000 | $0 |
| Apr 14, 2026 | POLADIAN AVEDICK BARUYR Director | Gift | 5,000 | $0 |
| Apr 14, 2026 | POLADIAN AVEDICK BARUYR Director | Gift | 5,000 | $0 |
| Apr 14, 2026 | POLADIAN AVEDICK BARUYR Director | Gift | 5,000 | $0 |
| Apr 14, 2026 | POLADIAN AVEDICK BARUYR Director | Gift | 5,000 | $0 |
| Apr 14, 2026 | POLADIAN AVEDICK BARUYR Director | Gift | 5,000 | $0 |
| Mar 1, 2026 | Dillon Kenneth Senior Vice President | Award | 27,883 | $0 |
| Mar 1, 2026 | Champion Christopher O VP, CAO and Controller | Award | 13,565 | $0 |
| Mar 1, 2026 | Peterson Robert L Senior Vice President | Award | 24,115 | $0 |
| Mar 1, 2026 | Mathew Sunil SVP & CFO | Award | 26,376 | $0 |
| Mar 1, 2026 | Simmons Jeff F Senior Vice President | Award | 24,115 | $0 |
| Mar 1, 2026 | Kerrigan Sylvia J SVP & Chief Legal Officer | Award | 48,983 | $0 |
| Mar 1, 2026 | Jackson Richard A. Senior Vice President and COO | Award | 37,679 | $0 |
| Mar 1, 2026 | Hollub Vicki A. President and CEO | Award | 94,198 | $0 |
| Feb 28, 2026 | Hollub Vicki A. President and CEO | Tax withheld | 33,136 | $1.76M |
| Feb 28, 2026 | Dillon Kenneth Senior Vice President | Tax withheld | 10,131 | $537.8K |
| Feb 28, 2026 | Champion Christopher O VP, CAO and Controller | Tax withheld | 4,970 | $263.8K |
| Feb 28, 2026 | Jackson Richard A. Senior Vice President and COO | Tax withheld | 10,131 | $537.8K |
| Feb 28, 2026 | Peterson Robert L Senior Vice President | Tax withheld | 8,988 | $477.1K |
| Feb 28, 2026 | Mathew Sunil SVP & CFO | Tax withheld | 9,732 | $516.6K |
| Feb 28, 2026 | Simmons Jeff F Senior Vice President | Tax withheld | 9,436 | $500.9K |
| Feb 28, 2026 | Kerrigan Sylvia J SVP & Chief Legal Officer | Tax withheld | 18,304 | $971.6K |
| Feb 23, 2026 | GUTIERREZ CARLOS M Director | Gift | 3,656 | $0 |
| Feb 18, 2026 | Peterson Robert L Senior Vice President | Award | 16,817 | $0 |
| Feb 18, 2026 | Hollub Vicki A. President and CEO | Tax withheld | 23,265 | $1.10M |
| Feb 18, 2026 | Hollub Vicki A. President and CEO | Award | 59,121 | $0 |
| Feb 18, 2026 | Dillon Kenneth Senior Vice President | Tax withheld | 7,264 | $342.2K |
| Feb 18, 2026 | Dillon Kenneth Senior Vice President | Award | 18,393 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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