Filing Flows › Occidental Petroleum (OXY) › Q1 2026
Occidental Petroleum (OXY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Occidental Petroleum (OXY) reported revenue of $5.2B for the first quarter 2026 (Q1 2026), -8% from a year earlier and +199% from the quarter before. Operating margin was 67.2%, net earnings $3.2B (60.3% of revenue).
Occidental Petroleum, Q1 2026: revenue $5.2B (-8% year over year), operating margin 67.2%, net earnings $3.2B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.2B | +199% | -8% |
| Operating profit | $3.5B | 23× | +172% |
| Net earnings | $3.2B | — | +315% |
| Operating cash flow | $1.3B | -51% | -40% |
What changed
Revenue was $5.2B in Q1 2026, down 8% year over year and up 199% from the previous quarter.
Operating profit was $3.5B, a 67.2% margin (up 44.5 points year over year). Total costs fell 61% while revenue fell 8%. Net earnings were $3.2B, up 315% year over year. The effective tax rate was 4.4%.
Operating cash flow was $1.3B (down 40% year over year), 38% of net income including minority interests. Non-cash charges added back $1.8B of depreciation and amortization. Working capital and other items used $3.9B. Capital expenditures of $1.6B exceeded it, leaving free cash flow of −$0.27B.
Questions
What was Occidental Petroleum's revenue in the first quarter 2026?
Occidental Petroleum (OXY) reported revenue of $5.2B for the first quarter 2026 (Q1 2026), -8% from a year earlier and +199% from the quarter before.
Was Occidental Petroleum profitable in the first quarter 2026?
Operating profit was $3.5B (67.2% of revenue) and net earnings $3.2B.