OxyChem Sale Completed
The sale of OxyChem to Berkshire Hathaway closed on January 2, 2026 for an adjusted net proceeds of $9.5 billion, resulting in a $3.1 billion after-tax gain included in discontinued operations.
At the archive date, OCCIDENTAL PETROLEUM CORP /DE/ was expected to release its Q3 2026 10-Q filing on November 9, 2026, after market close. Last quarter: Occidental Petroleum's Q2 FY2026 results were dominated by a $3.1B after-tax gain from the OxyChem sale, transforming it into a debt-light, pure-play oil and gas producer.
EPS Estimate
$1.30
Revenue Estimate
$6.4B
Analyst consensus captured from Finnhub and Financial Modeling Prep. This archived preview is no longer updated with later results; see the OXY page for retained reports.
Drawn from management commentary in the Q2 2026 10-Q:
The sale of OxyChem to Berkshire Hathaway closed on January 2, 2026 for an adjusted net proceeds of $9.5 billion, resulting in a $3.1 billion after-tax gain included in discontinued operations.
After-tax proceeds from the OxyChem sale and free cash flow were used to repay $8.6 billion of debt, reducing total face value from $20.4 billion to $11.8 billion and the long-term debt-to-equity ratio to 0.32.
The company entered into crude oil two-way collars for the remainder of 2026 with a floor of $55/bbl and a weighted-average ceiling of $75.89/bbl on 100,000 barrels per day to manage cash flow variability.
Revenue
$8.06B
+53.39% YoY
EPS (Diluted)
$2.75
+957.69% YoY
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