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Mar 31, 2024
Occidental Q1 2024 Earnings Report
Occidental's Q1 2024 earnings were announced, demonstrating strong operational performance and exceeding guidance in certain segments.
Key Takeaways
Occidental announced strong Q1 2024 results, with operating cash flow of $2.0 billion and free cash flow before working capital of $720 million. The company's total production reached 1,172 Mboed, and OxyChem's pre-tax income exceeded guidance at $260 million. Earnings per diluted share stood at $0.75, while adjusted earnings per diluted share were $0.63.
Operating cash flow reached $2.0 billion, with cash flow from operations before working capital at $2.4 billion.
Free cash flow before working capital was $720 million, after capital spending of $1.8 billion and contributions from noncontrolling interest of $57 million.
Total company production was 1,172 Mboed, near the midpoint of guidance.
Midstream and marketing, along with OxyChem, exceeded guidance for pre-tax income.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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