Occidental Petroleum Q2 Earnings Highlights: Warren Buffett Favorite Beats Revenue, EPS Estimates
Portfolio Pulse from Chris Katje
Occidental Petroleum (NYSE:OXY) reported strong Q2 earnings, beating revenue and EPS estimates. The company posted $6.82 billion in revenue and $1.03 EPS, surpassing expectations. Operating cash flow was $2.4 billion, and production exceeded guidance. The Oil and Gas segment saw significant pre-tax income growth, while OxyChem and Midstream segments also performed well. The company maintains its full-year production guidance.
August 07, 2024 | 8:41 pm
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Occidental Petroleum reported strong Q2 earnings, beating both revenue and EPS estimates. The company posted $6.82 billion in revenue and $1.03 EPS, surpassing expectations. Operating cash flow was $2.4 billion, and production exceeded guidance. The Oil and Gas segment saw significant pre-tax income growth, while OxyChem and Midstream segments also performed well. The company maintains its full-year production guidance.
Occidental Petroleum's strong Q2 earnings report, with revenue and EPS beating estimates, is likely to positively impact the stock price in the short term. The company's robust performance across its segments and maintained full-year guidance further support a positive outlook.
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