Occidental Petroleum Corporation: EPS $1.91 vs $1.46 expected; revenue $6.77B vs $6.80B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 1.91 | 1.46 | +30.8% | 0.64 |
| Revenue (USD bn) | 6.77 | 6.80 | −0.5% | 6.62 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Nov 9, 2026 | Q3 FY2026 | 1.91 | 1.4600 | +30.8% | 6.77 | 6.80 | −0.5% |
| Aug 5, 2026 | Q2 FY2026 | 2.40 | 1.8300 | +31.1% | 8.07 | 7.07 | +14.0% |
| May 5, 2026 | Q1 FY2026 | 1.06 | 0.6010 | +76.4% | 5.23 | 5.44 | −3.9% |
| Feb 18, 2026 | Q4 FY2025 | 0.31 | 0.1649 | +88.0% | 5.11 | 5.55 | −7.9% |
| Nov 10, 2025 | Q3 FY2025 | 0.64 | 0.5120 | +25.0% | 6.62 | 6.75 | −1.9% |
| Aug 6, 2025 | Q2 FY2025 | 0.39 | 0.2973 | +31.2% | 6.41 | 6.38 | +0.6% |
| May 7, 2025 | Q1 FY2025 | 0.87 | 0.7830 | +11.1% | 6.80 | 6.83 | −0.3% |
| Feb 18, 2025 | Q4 FY2024 | 0.80 | 0.6770 | +18.2% | 6.76 | 6.98 | −3.1% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Occidental Petroleum Corporation results: EPS $1.91 vs $1.46 expected; revenue $6.77B vs $6.80B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 30.8%; revenue below the estimate by 0.5%.
Revenue was up 2.2% from $6.62 billion a year earlier (Q3 FY2025). EPS was up 198.4% from $0.64 a year earlier. On its record, EPS topped analysts' estimates in 7 of 7 earlier comparable reports.
What the results mean
Occidental Petroleum Corporation’s results show the sensitivity of extraction earnings to realized oil prices: declining prices weighed on segment income, while firmer domestic gas prices cushioned the impact. Permian and Rockies performance supported production, alongside temporary restrictions at some offshore facilities caused by a third-party gas pipeline constraint and maintenance.
In midstream and marketing, narrowing gas price spreads between Waha and the Gulf Coast pressured margins, while crude sales timing also weighed on profitability. Increased sulfur volumes and prices at Al Hosn provided a partial offset, illustrating the segment’s mix of price spreads, sales timing and product volumes.
Management emphasized principal debt reduction and a stronger balance sheet, alongside operating cash generation and free cash flow after capital spending. These elements put cash conversion at the center of the results, while derivatives losses explain part of the difference between reported and adjusted earnings.
What to watch on the earnings call: Resolution of gas pipeline constraints and offshore maintenance, operational consistency in the Permian and Rockies, the effects of gas price spreads and crude sales timing on midstream and marketing margins, conversion of operating cash into cash available after capital spending, and management’s discussion of cash allocation between debt reduction and shareholder returns.
For the full analysis of Occidental Petroleum Corporation stock — valuation, scores and financial statements — see the stock page linked with this story.