Occidental Petroleum's Q3 Earnings Beat, Revenues Lag Estimates
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Occidental Petroleum (OXY) reported better-than-expected third-quarter earnings, driven by strong sales volume. However, revenues fell short of estimates due to lower realized commodity prices.
November 13, 2024 | 5:15 pm
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Occidental Petroleum's Q3 earnings surpassed expectations, but revenues were below estimates due to lower commodity prices despite strong sales volume.
The positive earnings surprise is offset by the revenue miss, which is attributed to lower realized commodity prices. This mixed result may lead to a neutral short-term impact on OXY's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100