How Occidental Petroleum (OXY) makes money: Q2 2026 revenue breakdown
This is the previous report. The new report for Q3 2026 came out on Oct 13, 2026 — breakdown in progress
The quarter in brief
Revenue grew 53.4% y/y to $8.07B, pre-tax margin 48.5% vs 10.7%, net income $2.81B (+874.7% y/y).
Key growth driver: Midstream & Marketing (net of eliminations, calculated) — the fastest-growing revenue line: $1,183, +375% y/y. · by the Q2 2026 report
Net income attributable to common stockholders
$2,807M
up 875% y/y
Net sales
$8,065M
up 53.4% y/y
New report
out Oct 13
breakdown in progress
How does Occidental Petroleum make money?
Occidental Petroleum brought in $8.06 billion of revenue in Q2 2026, up 53.4% year over year. The largest source was Oil & Gas: $6.88 billion, or 85% of the total, followed by Midstream & Marketing (net of eliminations, calculated) ($1.18B, 15%). Net income for the quarter was $2.81 billion, up 875% year over year.
Revenue by source, Q2 2026
- Oil & Gas$6.88B · 85% · +37.4%
- Midstream & Marketing (net of eliminations, calculated)$1.18B · 15% · +375%
Shares of $8.06B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
All figures in $M.
| Line item | Amount and change |
|---|---|
| Oil & Gas | $6,882 · +37.4% |
| Midstream & Marketing (net of eliminations, calculated) | $1,183 · +375% |
| Net sales | $8,065 · +53.4% |
| Depreciation, depletion and amortization | $1,847 · +1.3% |
| Oil and gas lease operating expense | $1,117 · −1.6% |
| Transportation and gathering expense | $463 · +3.3% |
| Taxes other than on income | $342 · +27.1% |
| Other operating and non-operating expense | $332 · −25.4% |
| General and administrative expense | $262 · +1.9% |
| Impairments, acquisition costs and exploration (calculated) | $75 · −15.7% |
| Interest and debt expense, net | $108 · −60.1% |
| Interest and dividend income, asset sale gains and equity investments (calculated) | $396 · +915% |
| Income from continuing operations before income taxes | $3,915 · +599% · 48.5% margin |
| Income tax expense | $915 · +312% · 23.4% effective rate |
| Income (loss) from discontinued operations, net of tax | $4 · vs $130 |
| Net income attributable to noncontrolling interest | $19 · +90.0% |
| Preferred stock dividend | $170 · +0.0% |
| Net income attributable to common stockholders | $2,807 · +875% · $2.75/sh · 34.8% margin |
Verdict: revenue grew 53.4% y/y to $8.07B, pre-tax margin 48.5% vs 10.7%, net income $2.81B (+874.7% y/y).
Reported diluted EPS $2.75 vs $0.26 a year earlier; adjusted EPS from continuing operations $2.40 (non-GAAP); free cash flow before working capital $3.0 billion; worldwide production 1,433 Mboed.
Source and notation
Source: Occidental Petroleum earnings release, 8-K EX-99 of 08/05/2026 (SEC EDGAR). The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Net sales jumped to $8,065M from $5,258M as the worldwide realized oil price rose to $96.78 per barrel from $63.76, and Midstream & Marketing sales rose to $1,326M from $390M.
- Interest and debt expense fell to $108M from $271M after principal debt was reduced by $1.9 billion to $11.8 billion.
- The chemical business is now reported as discontinued operations, so 2025 figures are restated for continuing operations; the first quarter of 2026 carried $3,123M of income from discontinued operations.
- Pre-tax income was $3.92B, a 48.5% margin vs 10.7% a year earlier.
- The effective tax rate was 23.4% vs 39.6% a year earlier.
- Diluted EPS was $2.75 vs $0.26 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Richard JacksonPresident and Chief Executive Officer [1]
- Sunil MathewSenior Vice President and Chief Financial Officer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-08-05 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-08-05 · SEC EDGAR · 10/20/2026
Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States and the Middle East. · Text: Wikipedia, CC BY-SA 4.0, abridged
It is incorporated under the Delaware General Corporation Law and is headquartered in Houston.
Company guidance
Same quarter a year ago (ended December 31, 2025): revenue $3.91B, EPS (GAAP) −$0.07
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
OXY earnings history: past report dates
| Jul 10, 2026 Fri | 4:15 pmafter market close | Jun 30, 2026 | $7.1B+37% y/y | $2.75+958% y/y |
| Apr 10, 2026 Fri | 7:15 ambefore market open | Mar 31, 2026 | $5.6B−4% y/y | $3.13+306% y/y |
| Jan 20, 2026 Tue | 7:00 ambefore market open | Dec 31, 2025 | ≈$3.9B−43% y/y | ≈−$0.07+78% y/y |
| Oct 10, 2025 Fri | 7:15 ambefore market open | Sep 30, 2025 | $6.7B−5% y/y | $0.65−34% y/y |
| Jul 14, 2025 Mon | 7:00 ambefore market open | Jun 30, 2025 | $5.2B−24% y/y | $0.26−75% y/y |
| Apr 9, 2025 Wed | 4:15 pmafter market close | Mar 31, 2025 | $5.8B−14% y/y | $0.77+3% y/y |
| Jan 10, 2025 Fri | 4:05 pmafter market close | Dec 31, 2024 | ≈$6.9B−7% y/y | ≈−$0.32 |
| Oct 9, 2024 Wed | 4:30 pmafter market close | Sep 30, 2024 | $7.0B−3% y/y | $0.98−18% y/y |
| Jul 10, 2024 Wed | 4:15 pmafter market close | Jun 30, 2024 | $6.8B+1% y/y | $1.03+63% y/y |
| Apr 10, 2024 Wed | 7:30 ambefore market open | Mar 31, 2024 | $6.7B−7% y/y | $0.75−25% y/y |
| Jan 10, 2024 Wed | 4:50 pmafter market close | Dec 31, 2023 | ≈$7.3B−11% y/y | ≈$1.07−39% y/y |
| Oct 10, 2023 Tue | 8:00 ambefore market open | Sep 30, 2023 | $7.3B−23% y/y | $1.20−52% y/y |
| Aug 2, 2023 Wed | 4:16 pmafter market close | Jun 30, 2023 | $6.7B−37% y/y | $0.63−82% y/y |
| May 9, 2023 Tue | 4:17 pmafter market close | Mar 31, 2023 | $7.2B−13% y/y | $1.00−78% y/y |
| Nov 8, 2022 Tue | 4:17 pmafter market close | Sep 30, 2022 | $9.4B+38% y/y | $2.52+288% y/y |
| Aug 2, 2022 Tue | 4:26 pmafter market close | Jun 30, 2022 | $10.7B+79% y/y | $3.47 |
| May 10, 2022 Tue | 4:18 pmafter market close | Mar 31, 2022 | $8.3B+58% y/y | $4.65 |
| Feb 24, 2022 Thu | 4:18 pmafter market close | Dec 31, 2021 | ≈$7.9B | ≈$1.39 |
| Nov 4, 2021 Thu | 4:16 pmafter market close | Sep 30, 2021 | $6.8B+65% y/y | $0.65 |
| Aug 3, 2021 Tue | 4:16 pmafter market close | Jun 30, 2021 | $6.0B+80% y/y | −$0.10+99% y/y |
| May 10, 2021 Mon | 4:17 pmafter market close | Mar 31, 2021 | $5.3B−20% y/y | −$0.36+86% y/y |
| Feb 22, 2021 Mon | 4:19 pmafter market close | Dec 31, 2020 | — | ≈−$1.34+20% y/y |
| Nov 9, 2020 Mon | 4:15 pmafter market close | Sep 30, 2020 | $4.1B−30% y/y | −$4.07−277% y/y |
| Aug 10, 2020 Mon | 4:05 pmafter market close | Jun 30, 2020 | $3.3B−25% y/y | −$9.12 |
| May 5, 2020 Tue | 4:29 pmafter market close | Mar 31, 2020 | $6.6B+65% y/y | −$2.49 |
| Feb 11, 2020 Tue | 8:15 ambefore market open | Dec 31, 2019 | ≈$6.6B+10% y/y | ≈−$1.67 |
| Oct 15, 2019 Tue | 6:52 ambefore market open | Sep 30, 2019 | $5.9B+38% y/y | −$1.08 |
| Jul 31, 2019 Wed | 4:59 pmafter market close | Jun 30, 2019 | $4.4B+8% y/y | $0.84−24% y/y |
| May 6, 2019 Mon | 6:08 ambefore market open | Mar 31, 2019 | $4.0B+8% y/y | $0.84−9% y/y |
| Feb 12, 2019 Tue | 4:16 pmafter market close | Dec 31, 2018 | ≈$6.0B+72% y/y | ≈$0.94+47% y/y |
| Nov 5, 2018 Mon | 4:16 pmafter market close | Sep 30, 2018 | $4.3B+42% y/y | $2.44+876% y/y |
| Aug 8, 2018 Wed | 4:15 pmafter market close | Jun 30, 2018 | $4.1B+33% y/y | $1.10+67% y/y |
| May 8, 2018 Tue | 4:16 pmafter market close | Mar 31, 2018 | $3.7B+25% y/y | $0.92+513% y/y |
| Feb 13, 2018 Tue | 4:16 pmafter market close | Dec 31, 2017 | ≈$3.5B+25% y/y | ≈$0.64 |
| Nov 1, 2017 Wed | 4:13 pmafter market close | Sep 30, 2017 | $3.0B+13% y/y | $0.25 |
| Aug 2, 2017 Wed | 4:16 pmafter market close | Jun 30, 2017 | $3.1B+21% y/y | $0.66 |
| May 4, 2017 Thu | 6:57 ambefore market open | Mar 31, 2017 | $3.0B+39% y/y | $0.15+50% y/y |
| Feb 6, 2017 Mon | 4:10 pmafter market close | Dec 31, 2016 | ≈$2.8B−1% y/y | ≈−$0.35+95% y/y |
| Nov 1, 2016 Tue | 6:59 ambefore market open | Sep 30, 2016 | $2.6B−18% y/y | −$0.32+91% y/y |
| Aug 3, 2016 Wed | 7:01 ambefore market open | Jun 30, 2016 | $2.5B−28% y/y | −$0.18 |
| May 5, 2016 Thu | 6:57 ambefore market open | Mar 31, 2016 | $2.1B−31% y/y | $0.10 |
| Feb 4, 2016 Thu | 7:05 ambefore market open | Dec 31, 2015 | ≈$2.8B−35% y/y | ≈−$6.77−56% y/y |
| Oct 28, 2015 Wed | 7:00 ambefore market open | Sep 30, 2015 | $3.2B−34% y/y | −$3.42 |
| Jul 30, 2015 Thu | 7:06 ambefore market open | Jun 30, 2015 | $3.5B−32% y/y | $0.23−87% y/y |
| May 6, 2015 Wed | 7:11 ambefore market open | Mar 31, 2015 | $3.1B−38% y/y | −$0.28 |
| Jan 29, 2015 Thu | 7:09 ambefore market open | Dec 31, 2014 | ≈$4.3B+128% y/y | ≈−$4.34 |
Show all 46 reports since 2015Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Occidental Petroleum: 15-year financials
| 2025 | —* | 1,612 | 4,105 | — |
| 2024 | 22,019 | 2,364 | 5,176 | — |
| 2023 | 23,156 | 4,696 | 6,612 | — |
| 2022 | 36,634 | 13,304 | 12,313 | 1,184 |
| 2021 | 25,956 | 2,322 | 7,564 | 839 |
| 2020 | —* | −14,831 | 1,420 | 1,845 |
| 2019 | 20,911 | −985 | 1,008 | 2,624 |
| 2018 | 17,824 | 4,131 | 2,694 | 2,374 |
| 2017 | 12,508 | 1,311 | 1,262 | 2,346 |
| 2016 | 10,090 | −574 | 667 | 2,309 |
| 2015 | 12,480 | −7,829 | −1,921 | 2,264 |
| 2014 | 19,312 | 616 | 2,138 | 2,210 |
| 2013 | 20,170 | 5,903 | 5,421 | 1,553 |
| 2012 | 20,100 | 4,598 | 3,425 | 2,128 |
| 2011 | 23,939 | 6,771 | 4,763 | 1,436 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. “—*” in revenue: we don’t show that year’s revenue — the annual figure is more than 2% off the sum of the quarters, or the filing tags several revenue lines and the total can’t be pinned down. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Jun 30, 2026: $41.7B (52% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies that paid dividends 10 years without a gap
Occidental Petroleum (OXY) earnings: FAQ
How does Occidental Petroleum make money?
Occidental Petroleum brought in $8.06 billion of revenue in Q2 2026, up 53.4% year over year. The largest source was Oil & Gas: $6.88 billion, or 85% of the total, followed by Midstream & Marketing (net of eliminations, calculated) ($1.18B, 15%). Net income for the quarter was $2.81 billion, up 875% year over year.
When is OXY's next earnings date?
We have not yet seen an announcement of the date from Occidental Petroleum (OXY). Based on last year's report on Jan 20, 2026, the next report is expected around Jan 19, 2027.
What time does OXY report earnings?
Occidental Petroleum usually reports after market close: its latest results release was filed with the SEC at 7:01 am ET on Oct 13, 2026.
When did OXY last report earnings?
Occidental Petroleum reported Q2 2026 results on Aug 5, 2026.
Where can I find Occidental Petroleum's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to OXY's filings; this page breaks the latest report down in a Sankey chart.
What was OXY's net income in Q2 2026?
Occidental Petroleum reported net income of $2,807M for Q2 2026 (+875% year over year), under US GAAP.
How has Occidental Petroleum's revenue changed since 2011?
Per its 10-K filings, revenue fell 8%: $23,939M in 2011 and $22,019M in 2024. The peak was $36,634M in 2022. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
More reports: PSX · Q2 2026 · SLB · Q2 2026 · TPL · Q2 2026 · TRGP · Q2 2026 · VLO · Q2 2026 · WMB · Q2 2026 · XOM · Q2 2026 · APA · Q2 2026 · BKR · Q2 2026 · COP · Q2 2026 · all reports