OCCIDENTAL PETROLEUM CORP /DE/

Occidental has announced that it will release its second quarter 2026 financial results after the close of market on Wednesday, August 5, 2026. The company will host a conference call to discuss these results on Thursday, August 6, 2026, at 1 p.m. Eastern Time. Investors can access the call via phone or webcast, with pre-registration available.

Occidental Petroleum reported a significant increase in net income attributable to common stockholders to $3,175 million for Q1 2026, up from $766 million in Q1 2025, primarily driven by a $3.1 billion net gain from the OxyChem divestment. The company utilized the $9.5 billion proceeds from the sale to repay $6.7 billion in debt. However, net sales for continuing operations decreased to $5,230 million from $5,704 million year-over-year, and net cash provided by operating activities also declined.

Occidental Petroleum Corporation announced strong first quarter 2026 results, reporting net income of $3.2 billion and adjusted EPS of $1.06. The company significantly advanced its debt reduction priorities by repaying $7.1 billion, bringing principal debt down to $13.3 billion. Operational performance was robust, with total production exceeding guidance and strong operating and free cash flow generation.

Occidental announced the release of its first quarter 2026 financial results on May 5, 2026. The earnings release and financial schedules are available on the company's investor relations website and the U.S. Securities and Exchange Commission's website. A conference call to discuss these results is scheduled for Wednesday, May 6, 2026, at 1 p.m. Eastern.

Occidental announced that Vicki Hollub will retire as President and CEO effective June 1, 2026, and will continue to serve on the Board. Richard Jackson, currently Senior Vice President and COO, has been appointed as her successor and will also join the Board. In connection with his promotion, Mr. Jackson's base salary will increase to $1,400,000 annually, with a target annual cash incentive of 150% of base salary, and he will receive a $6,000,000 restricted stock unit grant. Additionally, shareholders approved all ten director nominees, executive compensation, and the ratification of KPMG as the independent auditor at the 2026 Annual Meeting.

Occidental (OXY) announced that its Board of Directors declared a regular quarterly dividend of $0.26 per share on common stock. The dividend is scheduled to be paid on July 15, 2026, to stockholders who are on record as of the close of business on June 10, 2026.

Occidental Petroleum Corporation has released a summary of factors that management anticipates will influence its financial performance for the first quarter of 2026. This disclosure is intended to provide insights into current estimates of these impacting factors. It is important to note that this summary is not a comprehensive report of all changes or an estimate of the company's full first-quarter earnings.