Occidental Petroleum Q2 Adj. EPS $0.68 Misses $0.72 Estimate, Sales $6.73B Beat $6.69B Estimate
Portfolio Pulse from Benzinga Newsdesk
Occidental Petroleum (NYSE:OXY) reported Q2 earnings of $0.63 per share, missing the analyst consensus estimate of $0.72 by 12.5%. This is a 80.06% decrease from the same period last year. The company's quarterly sales of $6.73 billion beat the estimate of $6.69 billion by 0.60%, but this is a 37.31% decrease from last year.
August 04, 2023 | 12:09 pm
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Occidental Petroleum's Q2 earnings missed estimates and decreased significantly YoY, while sales beat estimates but also decreased YoY.
Occidental Petroleum's earnings miss and significant YoY decrease, along with the decrease in sales despite beating estimates, could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term.
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