Occidental Q2 net income $605M ($0.63/diluted); raises FY production guidance to 1,210 Mboed

OCCIDENTAL PETROLEUM CORP /DE/

2023-Q2 EPS reported $1.63 revenue$13,927,000,000

Adjusted EPS $0.68; cash flow from ops before WC $2.7B; free cash flow $1.0B.
Production of 1,218 Mboed exceeded guidance midpoint by 42 Mboed; FY guidance raised.
Repurchased $425M of common stock; redeemed $522M preferred (YTD ~$1.2B or 12% of preferred).
OxyChem pre-tax income $436M exceeded guidance; oil & gas pre-tax $1.1B vs $1.6B Q1.
Fitch upgraded OXY to investment grade; asset impairments of $164M in Powder River Basin.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OCCIDENTAL PETROLEUM CORP /DE/ reported the quarter ended June 30, 2023 results: net income $605 million, EPS $0.63 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $605 million
EPS: $0.63 per diluted share
Result: reported results

Exact text from the filing

Occidental (NYSE: OXY) today announced net income attributable to common stockholders for the second quarter of 2023 of $605 million, or $0.63 per diluted share, and adjusted income attributable to common stockholders of $661 million, or $0.68 per diluted share.

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Source: SEC EDGAR

accession 0000797468-23-000074

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