NYSE$OXY
Occidental Petroleum Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Occidental's Q3 2024 results were announced, highlighted by strong operational performance and deleveraging progress.
Occidental announced strong Q3 2024 results, with net income of $964 million, or $0.98 per diluted share, and adjusted income of $977 million, or $1.00 per diluted share. The company achieved its highest quarterly operating cash flow this year and made significant progress in debt reduction.
- Operating cash flow reached $3.8 billion.
- Total production exceeded guidance mid-point by 22 Mboed, reaching 1,412 Mboed.
- Midstream and marketing pre-tax adjusted income exceeded guidance mid-point by $145 million.
- Debt was reduced by $4.0 billion, achieving nearly 90% of the short-term debt reduction target.
Headline financials
Revenue & EPS history
Occidental · Revenue · Quarterly
$7.17B
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 Q3 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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