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Dec 31, 2024
Occidental Q4 2024 Earnings Report
Occidental reported a net loss of $297 million due to a significant environmental liability charge, despite strong operational performance.
Key Takeaways
Occidental delivered strong operational results with record production of 1,463 Mboed, exceeding guidance. However, a $1.1 billion environmental liability charge led to a net loss of $297 million. Adjusted EPS increased to $0.80, supported by solid oil and gas performance and cash flow. The company met its debt repayment target of $4.5 billion and announced $1.2 billion in divestitures.
Net loss of $297 million due to a $1.1 billion environmental liability charge.
Adjusted EPS increased to $0.80, up 8.1% YoY.
Production reached 1,463 Mboed, exceeding guidance.
Occidental met its $4.5 billion debt repayment goal.
Occidental
Occidental
Occidental Revenue by Segment
Revenue by Segment
Oil & Gas Revenue
CapyFin.comChemical Revenue
CapyFin.comMidstream & Marketing Revenue
CapyFin.com Forward Guidance
Occidental remains focused on production growth and financial discipline, while addressing the environmental liability impact.
Positive Outlook
- Expected continued strong production growth, especially in the Permian Basin.
- Ongoing cost efficiencies to maintain capital discipline.
- Potential cost recovery efforts for environmental liabilities.
- Continued shareholder returns through dividends and buybacks.
- Expansion in low-carbon initiatives for long-term sustainability.
Challenges Ahead
- Ongoing legal and financial uncertainty related to environmental liabilities.
- Fluctuations in oil and gas prices may impact revenue.
- Higher interest expenses due to debt refinancing.
- Potential delays in asset divestitures.
- Regulatory uncertainties in key operating regions.