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Sep 30, 2024
Occidental Q3 2024 Earnings Report
Occidental's Q3 2024 results were announced, highlighted by strong operational performance and deleveraging progress.
Key Takeaways
Occidental announced strong Q3 2024 results, with net income of $964 million, or $0.98 per diluted share, and adjusted income of $977 million, or $1.00 per diluted share. The company achieved its highest quarterly operating cash flow this year and made significant progress in debt reduction.
Operating cash flow reached $3.8 billion.
Total production exceeded guidance mid-point by 22 Mboed, reaching 1,412 Mboed.
Midstream and marketing pre-tax adjusted income exceeded guidance mid-point by $145 million.
Debt was reduced by $4.0 billion, achieving nearly 90% of the short-term debt reduction target.
Occidental
Occidental
Occidental Revenue by Segment
Revenue by Segment
Oil & Gas Revenue
CapyFin.comChemical Revenue
CapyFin.comMidstream & Marketing Revenue
CapyFin.com 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