NYSE$OXY
Occidental Petroleum Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Occidental's Q1 2024 earnings were announced, demonstrating strong operational performance and exceeding guidance in certain segments.
Occidental announced strong Q1 2024 results, with operating cash flow of $2.0 billion and free cash flow before working capital of $720 million. The company's total production reached 1,172 Mboed, and OxyChem's pre-tax income exceeded guidance at $260 million. Earnings per diluted share stood at $0.75, while adjusted earnings per diluted share were $0.63.
- Operating cash flow reached $2.0 billion, with cash flow from operations before working capital at $2.4 billion.
- Free cash flow before working capital was $720 million, after capital spending of $1.8 billion and contributions from noncontrolling interest of $57 million.
- Total company production was 1,172 Mboed, near the midpoint of guidance.
- Midstream and marketing, along with OxyChem, exceeded guidance for pre-tax income.
Headline financials
Revenue & EPS history
Occidental · Revenue · Quarterly
$5.98B
Revenue by segment
Occidental · $6.15B total across 2 segments · Q3 2023
- Oil & Gas$5.59B-21.2%91.0%
- Midstream & Marketing$552M-45.1%9.0%
Forward guidance
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about Occidental’s expectations, beliefs, plans or forecasts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.4%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+0.0%
Avg return
30 days after
55%
40 / 73 earnings
Positive
+23.7%
Q3 2020
Best reaction
-13.7%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -7.1% | -7.2% | -4.0% | |
| Q1 2026 | +0.1% | -7.2% | -4.0% | |
| Q3 2025 | +0.8% | +2.3% | -1.4% | |
| Q2 2025 | +2.5% | +3.8% | +7.9% | |
| Q1 2025 | +6.1% | +13.8% | +9.0% | |
| Q4 2024 | +4.4% | +2.1% | -1.8% | |
| Q3 2024 | +0.6% | -1.7% | -5.2% | |
| Q2 2024 | +4.3% | +5.1% | -7.3% | |
| Q1 2024 | -2.1% | -2.2% | -7.6% | |
| Q4 2023 | +4.3% | +5.1% | +8.7% | |
| Q3 2023 | -1.0% | -1.2% | -8.7% | |
| Q2 2023 | -0.7% | +2.0% | +3.1% | |
| Q1 2023 | -3.6% | -1.5% | +1.3% | |
| Q4 2022 | -0.7% | +3.8% | +5.3% | |
| Q3 2022 | -10.6% | -2.2% | -16.1% | |
| Q2 2022 | -6.5% | -9.5% | +4.9% | |
| Q1 2022 | +3.9% | +10.8% | +12.7% | |
| Q4 2021 | +0.1% | +20.9% | +51.7% | |
| Q3 2021 | -1.3% | -0.3% | -13.9% | |
| Q2 2021 | -0.4% | +2.3% | +3.1% | |
| Q1 2021 | -10.4% | -8.4% | +3.5% | |
| Q4 2020 | +2.5% | +4.7% | +6.5% | |
| Q3 2020 | +23.7% | +17.9% | +93.7% | |
| Q2 2020 | -1.9% | -5.2% | -28.3% | |
| Q1 2020 | -13.7% | -3.2% | +0.2% | |
| Q4 2019 | -4.3% | -3.6% | -66.1% | |
| Q3 2019 | -0.9% | -5.2% | -9.1% | |
| Q2 2019 | +1.3% | -5.8% | -17.1% | |
| Q1 2019 | +3.0% | -5.1% | -18.2% | |
| Q4 2018 | +1.6% | +3.6% | +0.6% | |
| Q3 2018 | +7.4% | +7.7% | +2.0% | |
| Q2 2018 | -5.1% | -4.6% | -6.5% | |
| Q1 2018 | +6.6% | +10.0% | +11.9% | |
| Q4 2017 | -0.0% | -2.4% | -8.5% | |
| Q3 2017 | +4.3% | +5.0% | +7.3% | |
| Q2 2017 | +0.0% | +0.5% | -2.9% | |
| Q1 2017 | +0.4% | -0.5% | +0.9% | |
| Q4 2016 | +2.5% | -1.0% | -10.3% | |
| Q3 2016 | -7.0% | -8.7% | -2.2% | |
| Q2 2016 | +1.5% | +1.7% | +6.0% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | -3.9% | — | — | |
| Q3 2015 | +5.6% | — | — | |
| Q2 2015 | -0.9% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | +4.6% | — | — | |
| Q3 2014 | -0.2% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | +1.5% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | -1.6% | — | — | |
| Q1 2013 | +2.8% | — | — | |
| Q4 2012 | +2.8% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2012 | +6.1% | — | — | |
| Q1 2012 | +1.8% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | +4.8% | — | — | |
| Q2 2011 | -7.3% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q4 2007 | +0.1% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q3 2010 | +3.1% | — | — | |
| Q1 2009 | -3.1% | — | — | |
| Q2 2010 | -3.1% | — | — | |
| Q1 2010 | +2.8% | — | — | |
| Q4 2009 | +0.4% | — | — | |
| Q3 2008 | +4.8% | — | — | |
| Q3 2009 | +4.8% | — | — | |
| Q4 2008 | -0.9% | — | — | |
| Q2 2009 | -0.9% | — | — | |
| Q2 2008 | -0.9% | — | — |
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