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Occidental Petroleum (OXY) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 5, 2026 · Occidental Petroleum (OXY) Q2 2026 earnings results →

Q2 2026 Revenue up 53% year over year to $8.1B · 35¢ of every $1 of revenue kept as net profit · operating margin 48.5%

Occidental Petroleum made $8.1B in Q2 2026 (+53% Y/Y). Operating margin 48.5%, net earnings $2.8B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$8.1B
Year over year+53%
Operating margin48.5%
Net earnings$2.8B
Operating cash flow$4.3B

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Occidental Petroleum Q2 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Occidental Petroleum Q2 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $8.1B in Q2 2026, up 53% year over year and up 54% from the previous quarter.

Operating profit was $3.9B, a 48.5% margin (up 35.4 points year over year). Of the extra revenue versus Q2 2025, 115% reached operating profit, above the 13% margin then. Total costs fell 9% while revenue rose 53%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $2.8B, up 968% year over year. The effective tax rate was 23.4%.

Operating cash flow was $4.3B (up 44% year over year), 143% of net income including minority interests. Non-cash charges added back $1.8B of depreciation and amortization. Working capital and other items used $0.57B. Capital expenditures of $1.6B left free cash flow of $2.7B.

Quarterly history

Occidental Petroleum revenue by quarterOccidental Petroleum revenue by quarter$6.8BQ4 2024$6.8BQ1 2025$6.4BQ2 2025$6.6BQ3 2025$1.8BQ4 2025$5.2BQ1 2026$8.1BQ2 2026
Occidental Petroleum net earnings by quarterOccidental Petroleum net earnings by quarter−$120MQ4 2024$761MQ1 2025$261MQ2 2025$657MQ3 2025$114MQ4 2025$3.2BQ1 2026$2.8BQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 5, 2026$8.1B+53%48.5%$2.8B$4.3B
Q1 202610-QMay 5, 2026$5.2B-8%67.2%$3.2B$1.3B
Q4 202510-KFeb 18, 2026$1.8B-15%8.8%$114M$2.6B
Q3 202510-QNov 10, 2025$6.6B-8%17.6%$657M$2.8B
Q2 202510-QAug 6, 2025$6.4B-6%11.5%$261M$3.0B
Q1 202510-QMay 7, 2025$6.8B+14%19.6%$761M$2.1B
Q4 202410-KFeb 18, 2025$6.8B-6%-2.7%−$120M$3.4B

Charts

Occidental Petroleum: revenue growth, year over year and quarter over quarterOccidental Petroleum: revenue growth, year over year and quarter over quarterY/YQ/Q-6%Q4 2024+14%+1%Q1 2025-6%-6%Q2 2025-8%+3%Q3 2025-15%-74%Q4 2025-8%+199%Q1 2026+53%+54%Q2 2026
Latest (Q2 2026): Y/Y +53%, Q/Q +54%.
Occidental Petroleum: where the cash came from (+) and went (−), TTM to Q2 2026Occidental Petroleum: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$11.0BNet borrowing (+) / repaid (−)−$10.2BOther investing$9.2BCapital spending−$6.2BCash drawn (+) / kept (−)−$1.8BDividends−$1.7BOther financing−$658MShares issued$330MPartners$124MBuybacks−$117M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Occidental Petroleum: profit against cash, quarter by quarterOccidental Petroleum: profit against cash, quarter by quarterNet incomeOperating cash flow$1.1B$3.7BQ3 2024−$120M$3.4BQ4 2024$945M$2.1BQ1 2025$468M$3.0BQ2 2025$842M$2.8BQ3 2025$114M$2.6BQ4 2025$3.4B$1.3BQ1 2026$3.0B$4.3BQ2 2026
Latest (Q2 2026): Net income $3.0B, Operating cash flow $4.3B.
Occidental Petroleum: diluted shares by fiscal yearOccidental Petroleum: diluted shares by fiscal year919MFY2020959MFY20211.00BFY2022961MFY2023967MFY20241.00BFY2025
+8.9% since FY2020: more shares outstanding (issuance, stock pay).
Occidental Petroleum: long-term debt falling due (FY2024)Occidental Petroleum: long-term debt falling due (FY2024)$1.0B2025$4.1B2026$1.5B2027$900M2028
Cash $2.1B, short-term investments —, long-term debt $25.3B at 2024-12-31.
Occidental Petroleum in its industry: growth against margin (79 companies, SIC 1311)Occidental Petroleum in its industry: growth against margin (79 companies, SIC 1311)revenue growth, year over year →↑ operating marginmedian +24%median 20%EOGDVNFANGEXEPARROVVSMPREQTCHRDARContinental Resources, IncCRGYMTDRMURRRCVNOMTALOCNXMGYCRCHESMKOSPHXE-PBKVCRKGPORNOGMNRAESIREPXGRNTINRGTETTIWTIBDCOEGYDECREIBSMPROPKRPVTSTXOSDAMPYDMLPBATLPEDPNRGWHKEPMEPSNEnergy 11, L.P.ANNAEPEnergy Resources 12, L.P.EONRRSRVBRNAGIGEverflow Eastern Partners LPBSINMXCSPNDRKDAROYLTPETCJAXCKXNRISBRLLGBRNUAIALTXNext Bridge Hydrocarbons, Inc.OKMNOXY (+53%, 48%)
Crude Petroleum & Natural Gas; dot size is quarterly revenue; dashed lines are the industry's medians.

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Customers and suppliers named in filings

Buys from

About Occidental Petroleum

Occidental is an international energy company that produces, markets and transports oil and natural gas to maximize value and provide resources fundamental to life. The company leverages its global leadership in carbon management to advance lower-carbon technologies and products. Headquartered in Houston, Occidental primarily operates in the United States, the Middle East and North Africa. To learn more, visit oxy.com.

In its own words, from its 8-K, filed Aug 5, 2026.

Occidental Petroleum against its Crude Petroleum & Natural Gas peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +53% against the peers' median +48%. Operating margin: 48.5% against the peers' median 33.7%.

CompanyQuarterRevenueY/YOp. margin
OXY Occidental PetroleumQ2 2026$8.1B+53%48.5%
EOG EOG ResourcesQ3 2026$8.5B+46%41.9%
DVN Devon EnergyQ3 2026$6.9B+58%18.3%
FANG Diamondback EnergyQ3 2026$5.4B+38%46.0%
EXE Expand EnergyQ3 2026$3.3B+11%19.5%
PARR PAR Pacific HoldingsQ3 2026$3.1B+52%15.5%
OVV OvintivQ3 2026$2.6B+26%33.7%
SM SM EnergyQ3 2026$2.2B+167%10.9%
PR Permian ResourcesQ3 2026$2.0B+48%45.4%

Source: Occidental Petroleum 10-Q on SEC EDGAR · CIK 797468 · Crude Petroleum & Natural Gas

Guidance and outlook

Occidental Petroleum: what its forward-looking statements are about (10-Q filed 2026-08-05)Occidental Petroleum: what its forward-looking statements are about (10-Q filed 2026-08-05)Demand1Margins1
2 statements; tone +0.00 (−1 all cautious, +1 all confident); 0 hedged.
Occidental Petroleum: outlook statements against the filing beforeOccidental Petroleum: outlook statements against the filing beforeNew1

13F: who owns OXY and who is buying

Largest holders of OXY (13F)Largest holders of OXY (13F)Berkshire Hathaway$12.9BVanguard Group$3.7BDodge & COX$3.5BBlackRock$2.7BVanguard Capital Management LLC$2.3BState Street$2.3BVanguard Portfolio Management LLC$1.9BGeode Capital Management, LLC$963MInvesco$619MMorgan Stanley$594M
Funds' net buying of OXY by quarter (13F)Funds' net buying of OXY by quarter (13F)$58.8M2024-09−$426M2024-12$1.2B2025-03$435M2025-06$345M2025-09$223M2025-12$2.4B2026-03$1.6B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on OXY

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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中文版：西方石油（OXY）财报

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