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Occidental Petroleum (OXY) Q3 FY2026 earnings: revenue $6.6 billion, up 19.0% on the year

Occidental Petroleum Corp. (OXY) reported revenue of $6.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 19.0% on the same quarter a year earlier. Net income was $1.6 billion, up 147.6% on the year, and diluted earnings per share $1.61. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue
$6.6 billion
+19.0% on the year · -18.6% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
n/a
Q4 FY2024Q3 FY2026
Net income
$1.6 billion
+147.6% on the year · -41.6% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.61
+147.7% on the year · -41.5% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

  • Reported EPS $1.61, adjusted $1.91: The company reported net income attributable to common stockholders of $1.6 billion, or diluted EPS of $1.61, and adjusted EPS from continuing operations of $1.91. Prior-quarter figures were $2.75 reported and $2.40 adjusted.
  • Oil and gas pre-tax income declined: Pre-tax income from oil and gas was $2.6 billion, against $2.8 billion in the second quarter. Excluding items affecting comparability, management attributed the decrease mainly to lower realized crude oil prices, partly offset by higher domestic gas prices.
  • Production 1,427 MBOE/D, near prior quarter: Total production averaged 1,427 MBOE/D against 1,433 in the second quarter. Permian output rose to 812 and Rockies to 281 MBOE/D, offsetting lower Gulf of America volumes of 110 MBOE/D.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Revenue6,5678,0655,519-18.6%+19.0%
Cost of revenuen/an/a812
Gross profitn/an/a4,707
Gross marginn/an/a85.3%
Selling, general and administrative224262238-14.5%-5.9%
Pre-tax income2,3953,915985-38.8%+143.1%
Income tax554915279-39.5%+98.6%
Effective tax rate23.1%23.4%28.3%
Net income1,6272,787657-41.6%+147.6%
Net margin24.8%34.6%11.9%
Diluted EPS$1.61$2.75$0.65-41.5%+147.7%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow3,6724,2712,790-14.0%+31.6%
Capital expenditure1,3221,5891,768-16.8%-25.2%
Free cash flow2,3502,6821,022-12.4%+129.9%
Free cash flow margin35.8%33.3%18.5%
Cash from investing-1,590-1,782-1,259
Cash from financing-2,368-2,148-1,695
Depreciation and amortisation1,7831,8471,947-3.5%-8.4%
Buybacks90.061.00.0+47.5%
Dividends paid432430408+0.5%+5.9%
Dividend per share$0.28$0.26$0.24+7.7%+16.7%
Diluted shares, weighted1,013m1,012m1,003m+0.1%+1.0%
Shares outstanding at period end1,000m1,000m985m+0.0%+1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity43,16541,74636,261+3.4%+19.0%
Non-controlling interest639635505+0.6%+26.5%
Debt10,89512,80021,677-14.9%-49.7%
Operating lease liabilities435505n/a-13.9%
Finance lease liabilities754741632+1.8%+19.3%
Other liabilities23,91623,93124,397-0.1%-2.0%
Total liabilities and equity79,80480,35883,472-0.7%-4.4%
Fixed assets62,33762,600n/a-0.4%
Cash and equivalents3,8844,1502,159-6.4%+79.9%
Receivables3,4733,1423,169+10.5%+9.6%
Inventory2,0402,1852,117-6.6%-3.6%
Other assets8,0708,28176,027-2.5%-89.4%
Total assets79,80480,35883,472-0.7%-4.4%

Questions

What was Occidental Petroleum's revenue in Q3 FY2026?

Occidental Petroleum (OXY) reported revenue of $6.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 19.0% on the same quarter a year earlier.

How much did Occidental Petroleum earn in Q3 FY2026?

Net income for Q3 FY2026 was $1.6 billion, up 147.6% on the year, and diluted earnings per share $1.61.

When did Occidental Petroleum report Q3 FY2026 results?

Occidental Petroleum filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025 †Q4 FY2025 * †Q1 FY2026Q2 FY2026Q3 FY2026
Revenue7,9138,34910,6769,3908,2197,2256,7027,1587,1725,9756,8177,1736,7605,7045,2585,519n/a5,2308,0656,567
Cost of revenue771818835835785745791682898742821806752801847812n/an/an/an/a
Gross profit7,1427,5319,8418,5557,4346,4805,9116,4766,2745,2335,9966,3676,0084,9034,4114,707n/an/an/an/a
Gross margin90%90%92%91%90%90%88%90%87%88%88%89%89%86%84%85%n/an/an/an/a
SG&A280196244247258241277258307259259268276241257238250245262224
Pre-tax income2,0303,0834,9863,6482,4001,7341,3271,8091,5591,0101,6351,594-1691,1775609854063903,9152,395
Tax rate23%-58%25%25%20%27%35%24%23%30%28%28%n/a29%40%28%43%39%23%23%
Net income1,5374,8763,7552,7461,9271,2638601,3751,198888985959-295761261657n/a3,1552,7871,627
Net margin19%58%35%29%23%17%13%19%17%15%14%13%-4%13%5%12%-1%60%35%25%
Diluted EPS$1.39$4.65$3.47$2.52$1.76$1.00$0.63$1.20$1.07$0.75$1.03$0.98-$0.32$0.77$0.26$0.65n/a$3.13$2.75$1.61
Operating cash flow3,0923,2395,3294,2673,9752,8703,0703,1293,2392,0072,3943,6823,3562,1482,9602,790n/a1,2814,2713,672
Capital expenditure9378589721,1471,5201,4611,6461,6191,5441,7831,7711,6831,7811,6821,9981,768n/a1,5541,5891,322
Free cash flow2,1552,3814,3573,1202,4551,4091,4241,5101,6952246231,9991,5754669621,022n/a-2732,6822,350
Buybacks8.036.05321,8996327324454341870.09.00.018.00.00.00.00.056.061.090.0
Dividends paid209216323324321320368347330332366371377380398408408409430432
Shares outstanding1,083m937m929m908m900m892m885m878m879m887m906m938m938m942m984m985m986m991m1,000m1,000m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.