Occidental Petroleum Corp
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +6.73%.
Did OXY Beat Earnings? Q1 2025 Results
Occidental Petroleum posted a stronger-than-expected first quarter in 2025, delivering adjusted EPS of $0.87 against a consensus estimate of $0.7632 — a 13.99% beat — as surging commodity prices and operational discipline drove earnings well above the year-ago figure of $0.63. Revenue came in at $6.84 billion, up 10.1% year over year though fractionally below the $6.91 billion analyst estimate, with the modest shortfall doing little to overshadow the broader earnings story. The key driver was the oil and gas segment, where pre-tax income jumped to $1.70 billion from $1.20 billion in Q4 2024, fueled by domestic natural gas prices that nearly doubled sequentially and NGL realizations rising 19% to $25.94 per barrel. Occidental's aggressive <a href="https://247wallst.com/investing/2026/02/19/occidental-jumps-as-5-8-billion-debt-cut-and-dividend-hike-impress-investors/">debt reduction push</a> continued, with $2.30 billion repaid year-to-date after closing $1.30 billion in asset sales. Looking ahead, management trimmed the 2025 capital guidance midpoint by $200 million and domestic operating costs by $150 million, signaling confidence in Permian efficiency gains even as oil price uncertainty lingers.
- Higher domestic realized commodity prices across oil, NGL, and natural gas
- Worldwide realized crude oil prices increased 2% sequentially to $71.07/barrel
- Domestic realized gas prices increased 92% sequentially to $2.42/Mcf
- NGL prices increased 19% sequentially to $25.94/barrel
- Midstream and marketing exceeded midpoint guidance by $127 million due to timing of crude oil sales and higher sulfur prices at Al Hosn
- OxyChem exceeded guidance by $15 million on adjusted basis
- Operational efficiency gains reducing capital and operating costs
“In the first quarter, our teams' sustained focus on operational excellence unlocked additional efficiencies and supported the delivery of resilient free cash flow.”
Occidental Petroleum CEO, on the earnings call
Forward Guidance & Outlook
Occidental is reducing the midpoint of 2025 capital guidance by $200 million and domestic operating costs by $150 million, driven by continued operational efficiency gains and schedule optimization in the Permian and Gulf of America. The company continues to rapidly advance towards its debt reduction goals and believes its deep, diverse portfolio of high-quality assets positions it for success in any market environment.
OXY YoY Financials
OXY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.