Occidental Petroleum Corporation · OXY · Next earnings

Occidental Petroleum Corporation reports Monday, Nov 9, 2026

OXY reports after market close with consensus EPS at $1.21 and revenue at $6.44B. Last quarter: OXY Beats Production, Raises Midstream Outlook as Deleveraging Accelerates

Reports After market close50 days awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $1.21 Calendar consensus
Consensus revenue $6.44B Calendar consensus
Report date Nov 9, 2026 Monday, date estimated
Session After market close 50 days away

Where OXY left off: FY2026 Q1

Full report

OXY Beats Production, Raises Midstream Outlook as Deleveraging Accelerates

EPS surprise +76.4% Reported $1.06 vs $0.60
Revenue surprise -3.9% Reported $5.23B vs $5.44B
Stock move -7.1% Event window
Subsequent drift +6.4% Up to 20 sessions

Capital budget maintained at $5.5-$5.9 billion with a stable outlook, unchanged from the prior quarter. Full-year midstream earnings guidance raised by $800 million to $1.1 billion, driven by gas marketing optimization and higher sulfur prices. Overall guidance sentiment was maintained. Management targets more than $1.2 billion of incremental free cash flow in 2026 versus 2025, with plans for significant additional cash flow by 2029 through cost efficiency, lower decline rates, midstream improvements, and reduced interest expense.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Sensitivity to lower oil and gas prices, partially mitigated by modest costless collar hedges with a $55 floor and $76 ceiling
  • STRATOS Phase 1 repair timeline and operational schedule impact still under evaluation
  • Middle East operational disruptions and PSC pricing impacts on international production
  • Potential inflationary pressure on service, rig, and consumable costs within the capital budget
  • U.S. production plateau risk post-2027-2030 and overall commodity price volatility

Questions analysts left open

  • Timeline and magnitude of reaching the $10 billion debt target
  • Potential for increased reinvestment versus opportunistic share repurchases
  • Impact of inflation on CapEx within the $5.5-$5.9 billion range
  • Competitive activity in the Delaware Basin and peer growth strategies
  • Extent and timing of hedging strategy in volatile price environments

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Recent OXY quarters

All OXY earnings
-7.1%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.