Occidental Petroleum Q1 Adj $0.63 Beats $0.60 Estimate
Portfolio Pulse from Benzinga Newsdesk
Occidental Petroleum (OXY) reported Q1 earnings of $0.63 per share, surpassing the analyst consensus estimate of $0.60 by 5%. This represents a 42.2% decrease from the $1.09 per share earned in the same period last year.
May 07, 2024 | 8:17 pm
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Occidental Petroleum reported Q1 earnings of $0.63 per share, beating estimates but showing a significant year-over-year decline.
Beating earnings estimates typically has a positive short-term impact on a company's stock price, as it indicates better-than-expected financial health. However, the significant year-over-year decline in earnings might temper investor enthusiasm, suggesting a cautious optimism in the short term.
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