OCCIDENTAL PETROLEUM CORP /DE/ is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: OXY reported Q1 FY2026 revenue of $5.23B (down 8.3% YoY) while EPS surged 294% to $3.19, driven by a major asset divestiture that generated $7.85B in investing cash flows and enabled a $10B reduction in long-term debt.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue fell 8.3% YoY to $5.23B in Q1 FY2026 from $5.70B in the prior-year period, reflecting softer oil and gas price realizations. Despite the top-line pressure, the company maintained relatively stable SG&A at $245M (+1.7% YoY), demonstrating cost discipline.
Basic EPS jumped 293.8% YoY to $3.19 from $0.81, and diluted EPS rose 306.5% to $3.13 from $0.77. This outsized earnings improvement relative to revenue trends suggests a significant one-time gain, most likely from the large asset divestiture reflected in the $7.85B investing cash inflow.
Long-term debt declined dramatically by 40.7% YoY to $14.71B from $24.79B, a reduction of approximately $10.08B. This was funded by the $7.85B investing cash inflow (vs. -$731M prior year), consistent with a large-scale asset sale, and accompanied by $7.33B in financing outflows used primarily for debt repayment.
Revenue
$5.23B
-8.31% YoY
EPS (Basic)
$3.19
++293.83% YoY
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