Q4 25 EPS
$0.31
Q4 25 Revenue
$5.42B
vs S&P Since Q4 25
+10.5%
BEATING MARKET
OXY +18.5% vs S&P +8.0%
Full Year 2025 Results
FY 25 EPS
$2.21
FY 25 Revenue
$22.08B
Market Reaction
Did OXY Beat Earnings? Q4 2025 Results
Occidental Petroleum delivered a mixed but strategically consequential fourth quarter, posting adjusted earnings of $0.31 per diluted share on revenue of $5.42 billion as the completion of the OxyChem divestiture in early January 2026 reshapes the co… Read more Occidental Petroleum delivered a mixed but strategically consequential fourth quarter, posting adjusted earnings of $0.31 per diluted share on revenue of $5.42 billion as the completion of the OxyChem divestiture in early January 2026 reshapes the company's financial profile. On a GAAP basis, the company recorded a net loss of $68 million, or $0.07 per diluted share, narrowing considerably from a $297 million loss in Q4 2024, with the gap between reported and adjusted results driven largely by charges tied to the OxyChem transaction. The sale enabled $5.80 billion in debt reduction since mid-December 2025, bringing total principal debt reduction to $15.00 billion, a deleveraging effort management framed as central to sustaining free cash flow flexibility. Operationally, total production of 1,481 Mboed exceeded the top of guidance, though sharply lower commodity prices, with WTI averaging $59.14 per barrel, compressed oil and gas pre-tax income to $700 million from $1.30 billion the prior quarter. Looking ahead, Occidental raised its quarterly dividend by more than 8% to $0.26 per share and signaled continued focus on capital efficiency across its leaner, upstream-focused portfolio.
Key Takeaways
- • Total company production of 1,481 Mboed exceeded high end of guidance, led by Permian and Rockies contributions
- • Midstream and marketing pre-tax adjusted income exceeded high end of guidance
- • Lower realized commodity prices across all products drove decline in oil and gas pre-tax income
- • Average worldwide realized crude oil prices decreased 9% QoQ to $59.22/bbl
- • Average domestic realized natural gas prices fell 24% QoQ to $1.12/Mcf
- • Higher gas margins from Permian transportation capacity optimization
- • Reduced long-haul crude transportation costs
- • Higher sulfur prices at Al Hosn
- • Lease operating expenses declined to $8.48/BOE in Q4 from $8.93/BOE in Q3
- • Organic reserves replacement ratio of 107% with extensions and discoveries of 340 million BOE mainly in the Permian Basin
OXY YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
OXY Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our emphasis on operational excellence and cost efficiency drove meaningful production and operating expense outperformance during the fourth quarter. The quality of our assets and the exceptional execution by our teams enabled us to surpass full-year guidance across our oil and gas and midstream businesses. With our enhanced balance sheet following the sale of OxyChem, we remain focused on generating resilient free cash flow and maintaining flexibility in our capital and development programs to support near- and long-term value creation.”
— Vicki Hollub, Q4 2025 Earnings Press Release
OXY Earnings Trends
OXY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OXY EPS Trend
Earnings per share: estimate vs actual
OXY Revenue Trend
Quarterly revenue: estimate vs actual
OXY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.59 | $1.06 | +80.33% | $5.23B | -7.68% |
| Q4 25 FY | — | $0.31 | — | $5.42B | — |
| FY Full Year | — | $2.21 | — | $22.08B | — |
| Q3 25 BEAT | $0.49 | $0.64 | +29.90% | $6.62B | -1.73% |
| Q2 25 BEAT | $0.31 | $0.39 | +24.80% | $6.46B | +2.66% |
| Q1 25 BEAT | $0.76 | $0.87 | +13.99% | $6.84B | -0.91% |