Quarterly ResultAug 5, 2026, 04:23 PM
Occidental Q2 2026 EPS $2.75; Dividend +8%; Debt Reduced $1.9B
AI Summary
Occidental Petroleum Corporation announced strong second quarter 2026 results, reporting a net income of $2.8 billion and adjusted EPS of $2.40. The company increased its quarterly dividend by 8% to $0.28 per share and reduced principal debt by $1.9 billion. Production exceeded guidance, and both operating and free cash flow were robust, with the CEO highlighting the strength of resources and competitive advantages for continued value creation.
Key Highlights
- Increased quarterly dividend by 8% to $0.28 per share.
- Reduced principal debt by $1.9 billion to $11.8 billion.
- Generated $5.1 billion of operating cash flow from continuing operations.
- Delivered $3.0 billion of free cash flow before working capital.
- Produced 1,433 Mboed globally, exceeding guidance.
- Reported EPS of $2.75; adjusted EPS from continuing operations of $2.40.
- Midstream and marketing pre-tax adjusted income exceeded guidance.
Price Impact
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