Latest quarter
Occidental reported Q2 FY2026 revenue of $8.1 billion, up 53.4% from Q2 FY2025 revenue of $5.3 billion. The company’s adjusted EPS, as the consensus counts it, was $2.40, compared with the consensus estimate of $1.92; the company’s reported result was 25.0% above the consensus. Revenue, as the consensus counts it, was $8.3 billion, compared with consensus revenue of $7.2 billion, or 16.0% above the consensus.
Occidental’s quarterly data show diluted EPS of $2.75, versus $0.26 a year earlier. Gross margin was 80.4%, compared with 69.9% in Q2 FY2025, while operating margin was 48.5%, compared with 10.7%. Free cash flow was $2.7 billion, compared with $1.4 billion a year earlier.
The filing attributed the sequential increase in net sales to higher crude oil prices and higher marketing margins related to crude-sale timing and natural-gas transportation-capacity optimization in the Permian, partly offset by lower domestic realized natural-gas prices. The filing reported oil and gas segment earnings of $2.8 billion and midstream and marketing segment earnings of $1.3 billion for the three months ended June 30, 2026.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $8.1 billion | $5.3 billion | 53.4% |
| Diluted EPS | $2.75 | $0.26 | 957.7% |
| Gross margin | 80.4% | 69.9% | 10.5 percentage points |
| Operating margin | 48.5% | 10.7% | 37.9 percentage points |
| Free cash flow | $2.7 billion | $1.4 billion | 92.7% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $2.40 | $1.92 | Beat by 25.0% |
| Revenue | $8.3 billion | $7.2 billion | Beat by 16.0% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
Commentary from Occidental’s latest earnings call was not available in the provided company material. As a result, the available material does not provide named management commentary or analyst questions and answers about demand, pricing, margins, investment, competition, or the quarter ahead.
Guidance
Management guidance was not available in the provided company material. Accordingly, Occidental’s available materials do not provide updated outlook figures, changes from prior guidance, or guidance that the company stopped giving.