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Occidental Petroleum Corporation (OXY) Q2 FY2026 Financial Statements: Net sales $8.06B, Net income attributable to common stockholders $2.81B

CIK 0000797468 · NYSE · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0001628280-26-053388) · Annual report: FY2025 10-K (filed 2026-02-18, accession 0001628280-26-009059) · Next expected filing: 10-Q ~2026-11-09

More for Occidental Petroleum: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Occidental Petroleum reported net sales of $8.06 billion for Q2 FY2026, the quarter ended June 30, 2026, up 53.4% from a year earlier, as its worldwide realized oil price averaged $96.78 a barrel. Net income attributable to common stockholders was $2.81 billion, or $2.75 per diluted share, compared with $288 million, or $0.26, a year earlier, when results still included the OxyChem chemical business that Occidental sold at the start of the year. Beyond higher oil prices, the quarter's earnings were lifted by marketing gains from selling crude into a rising market and by a gain on the dilution of Occidental's stake in Western Midstream.

MetricAmountvs. year ago
Net sales$8,065,000,000up 53.4%
Net income attributable to common stockholders$2,807,000,000up 874.7%
Diluted EPS$2.75up 957.7%
Realized oil price per barrel$96.78

Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.

About this file

TickerOXY
CIK0000797468
CompanyOccidental Petroleum Corporation
Business typeenergy_exploration_and_production
Schema templateupstream oil and gas (exploration and production) with midstream and marketing: net sales, total revenues and other income, major cost lines (lease operating, transportation, DD&A, interest), income from continuing operations, discontinued operations (OxyChem), net income attributable to common stockholders after preferred dividends, EPS; balance sheet cash, debt and equity; operating cash flow, capital expenditures and free cash flow; sales volumes and average realized prices
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions); share counts in actual shares; per-share amounts in dollars; sales volumes as printed (thousands of barrels of oil equivalent per day for interim periods, millions of barrels of oil equivalent for fiscal years); realized and index prices in dollars per barrel or per Mcf as printed; capital expenditures and other cash outflows carry the negative sign the cash flow statement prints

OXY annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession10-K10-K10-K
Income statement
Net sales21,593,000,00022,019,000,00023,156,000,000
Interest dividends and other income219,000,000192,000,000153,000,000
Gains losses on sales of assets and other net263,000,000-16,000,000522,000,000
Total revenues and other income22,075,000,00022,195,000,00023,831,000,000
Oil and gas lease operating expense4,681,000,0004,738,000,0004,677,000,000
Transportation and gathering expense1,660,000,0001,608,000,0001,481,000,000
Purchased commodities and midstream cost of sales176,000,000431,000,0002,116,000,000
General and administrative expense986,000,000960,000,000987,000,000
Other operating and non operating expense1,556,000,0001,319,000,0001,165,000,000
Taxes other than on income1,030,000,0001,039,000,0001,087,000,000
Depreciation depletion and amortization7,533,000,0006,951,000,0006,449,000,000
Asset impairments and other charges60,000,000356,000,000209,000,000
Acquisition related costs13,000,00084,000,00026,000,000
Exploration expense249,000,000275,000,000441,000,000
Interest and debt expense net1,079,000,0001,169,000,000957,000,000
Total costs and other deductions19,023,000,00018,930,000,00019,595,000,000
Income before income taxes and other items3,052,000,0003,265,000,0004,236,000,000
Income from equity investments and other76,000,000759,000,000426,000,000
Income before income taxes3,128,000,0004,024,000,0004,662,000,000
Income tax expense-1,021,000,000-1,158,000,000-1,330,000,000
Income from continuing operations2,107,000,0002,866,000,0003,332,000,000
Income from discontinued operations net of tax262,000,000212,000,0001,364,000,000
Net income2,369,000,0003,078,000,0004,696,000,000
Net income attributable to noncontrolling interest-43,000,000-22,000,0000
Preferred stock dividends-679,000,000-679,000,000-923,000,000
Net income attributable to common stockholders1,647,000,0002,377,000,0003,773,000,000
Basic EPS1.652.594.22
Diluted EPS continuing operations1.352.232.49
Diluted EPS1.612.443.90
Net income used for diluted EPS1,612,000,0002,364,000,0003,752,000,000
Weighted average basic shares975,500,000911,800,000889,200,000
Diluted shares1,000,100,000967,100,000960,900,000
Balance sheet
Cash and cash equivalents1,968,000,0002,125,000,000
Current assets held for sale1,176,000,0001,140,000,000
Total current assets8,827,000,0009,070,000,000
Total property plant and equipment net63,643,000,00065,863,000,000
Non current assets held for sale5,344,000,0004,430,000,000
Total assets84,186,000,00085,445,000,000
Current maturities of long term debt1,773,000,0001,138,000,000
Total current liabilities9,428,000,0009,521,000,000
Long term debt net20,623,000,00024,979,000,000
Preferred stock8,287,000,0008,287,000,000
Total stockholders equity36,034,000,00034,159,000,000
Noncontrolling interest564,000,000321,000,000
Total equity36,598,000,00034,480,000,000
Total liabilities and equity84,186,000,00085,445,000,000
Total debt22,396,000,00026,117,000,000
Cash flow
Operating cash flow from continuing operations9,606,000,00010,519,000,00010,235,000,000
Net cash provided by operating activities10,532,000,00011,439,000,00012,308,000,000
Capital expenditures-6,427,000,000-6,263,000,000-5,696,000,000
Net cash provided by used in investing activities-5,799,000,000-14,590,000,000-6,980,000,000
Payments of debt-3,754,000,000-4,514,000,000-22,000,000
Purchases of treasury stock0-27,000,000-1,798,000,000
Cash dividends paid on common and preferred stock-1,594,000,000-1,446,000,000-1,365,000,000
Net cash provided by used in financing activities-4,844,000,0003,844,000,000-4,890,000,000
Free cash flow4,105,000,0005,176,000,0006,612,000,000
Operating metrics
Total sales volumes mmboe523486446
Average wti price per bbl64.8175.72
Realized oil price worldwide per bbl64.6075.0576.85
Realized ngl price worldwide per bbl20.6021.3821.32
Realized natural gas price worldwide per mcf1.651.182.00

OXY quarterly income statement, balance sheet and cash flow

Q2 FY2026Q2 FY2025
Fiscal quarter22
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession10-Q10-Q
Cash flow source accession0001628280-26-0533770001628280-26-053377
Income statement
Net sales8,065,000,0005,258,000,000
Interest dividends and other income82,000,00048,000,000
Gains losses on sales of assets and other net180,000,000-5,000,000
Total revenues and other income8,327,000,0005,301,000,000
Oil and gas lease operating expense1,117,000,0001,135,000,000
Transportation and gathering expense463,000,000448,000,000
General and administrative expense262,000,000257,000,000
Other operating and non operating expense332,000,000445,000,000
Taxes other than on income342,000,000269,000,000
Depreciation depletion and amortization1,847,000,0001,823,000,000
Asset impairments and other charges38,000,0000
Acquisition related costs06,000,000
Exploration expense37,000,00083,000,000
Interest and debt expense net108,000,000271,000,000
Total costs and other deductions4,546,000,0004,737,000,000
Income before income taxes and other items3,781,000,000564,000,000
Income from equity investments and other134,000,000-4,000,000
Income before income taxes3,915,000,000560,000,000
Income tax expense-915,000,000-222,000,000
Income from continuing operations3,000,000,000338,000,000
Income from discontinued operations net of tax-4,000,000130,000,000
Net income2,996,000,000468,000,000
Net income attributable to noncontrolling interest-19,000,000-10,000,000
Preferred stock dividends-170,000,000-170,000,000
Net income attributable to common stockholders2,807,000,000288,000,000
Basic EPS2.800.27
Diluted EPS continuing operations2.760.13
Diluted EPS2.750.26
Net income used for diluted EPS2,788,000,000261,000,000
Weighted average basic shares997,100,000985,100,000
Diluted shares1,012,200,0001,010,400,000
Balance sheet
Cash and cash equivalents4,150,000,000
Current assets held for sale0
Total current assets11,132,000,000
Total property plant and equipment net62,600,000,000
Non current assets held for sale0
Total assets80,358,000,000
Current maturities of long term debt203,000,000
Total current liabilities7,892,000,000
Long term debt net13,540,000,000
Preferred stock8,287,000,000
Total stockholders equity41,746,000,000
Noncontrolling interest635,000,000
Total equity42,381,000,000
Total liabilities and equity80,358,000,000
Total debt13,743,000,000
Cash flow
Operating cash flow from continuing operations5,086,000,0002,729,000,000
Net cash provided by operating activities4,271,000,0002,960,000,000
Capital expenditures-1,589,000,000-1,705,000,000
Net cash provided by used in investing activities-1,782,000,000-1,999,000,000
Payments of debt-1,792,000,000-1,762,000,000
Purchases of treasury stock-61,000,0000
Cash dividends paid on common and preferred stock-430,000,000-398,000,000
Net cash provided by used in financing activities-2,148,000,000-1,243,000,000
Free cash flow2,682,000,0001,255,000,000
Operating metrics
Total sales volumes mboe per day1,4331,397
Realized oil price worldwide per bbl96.7863.76
Realized ngl price worldwide per bbl24.6420.71
Realized natural gas price worldwide per mcf-0.801.46
Average wti price per bbl92.7963.74
Operating metrics source accession0001628280-26-053377

OXY year-to-date income statement and cash flow

Six months ended June 30, 2026Six months ended June 30, 2025
Period start2026-01-012025-01-01
Period end2026-06-302025-06-30
Period typesix monthssix months
Source accession10-Q10-Q
Income statement
Net sales13,295,000,00010,962,000,000
Interest dividends and other income163,000,000101,000,000
Gains losses on sales of assets and other net-22,000,000-24,000,000
Total revenues and other income13,436,000,00011,039,000,000
Oil and gas lease operating expense2,235,000,0002,352,000,000
Transportation and gathering expense884,000,000900,000,000
General and administrative expense507,000,000498,000,000
Other operating and non operating expense688,000,000771,000,000
Taxes other than on income601,000,000533,000,000
Depreciation depletion and amortization3,641,000,0003,627,000,000
Asset impairments and other charges158,000,0000
Acquisition related costs012,000,000
Exploration expense147,000,000138,000,000
Interest and debt expense net540,000,000581,000,000
Total costs and other deductions9,401,000,0009,412,000,000
Income before income taxes and other items4,035,000,0001,627,000,000
Income from equity investments and other270,000,000110,000,000
Income before income taxes4,305,000,0001,737,000,000
Income tax expense-1,069,000,000-569,000,000
Income from continuing operations3,236,000,0001,168,000,000
Income from discontinued operations net of tax3,119,000,000245,000,000
Net income6,355,000,0001,413,000,000
Net income attributable to noncontrolling interest-33,000,000-19,000,000
Preferred stock dividends-340,000,000-340,000,000
Net income attributable to common stockholders5,982,000,0001,054,000,000
Basic EPS5.981.06
Diluted EPS continuing operations2.820.78
Diluted EPS5.891.03
Net income used for diluted EPS5,945,000,0001,022,000,000
Weighted average basic shares993,700,000963,500,000
Diluted shares1,009,800,000997,000,000
Cash flow
Operating cash flow from continuing operations6,478,000,0004,761,000,000
Net cash provided by operating activities5,552,000,0005,108,000,000
Capital expenditures-3,143,000,000-3,387,000,000
Net cash provided by used in investing activities6,066,000,000-2,730,000,000
Payments of debt-8,695,000,000-2,280,000,000
Purchases of treasury stock-117,000,0000
Cash dividends paid on common and preferred stock-839,000,000-778,000,000
Net cash provided by used in financing activities-9,476,000,000-2,175,000,000
Free cash flow2,409,000,0001,721,000,000
Operating metrics
Total sales volumes mboe per day1,4301,394
Realized oil price worldwide per bbl83.3767.37
Realized ngl price worldwide per bbl21.8623.29
Realized natural gas price worldwide per mcf0.191.88
Average wti price per bbl82.3667.58

OXY trailing twelve month income statement and cash flow

Twelve months ended June 30, 2026
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession10-Q
Income statement
Net sales23,926,000,000
Total revenues and other income24,472,000,000
Income from continuing operations4,175,000,000
Net income7,311,000,000
Net income attributable to common stockholders6,575,000,000
Cash flow
Operating cash flow from continuing operations11,323,000,000
Net cash provided by operating activities10,976,000,000
Capital expenditures-6,183,000,000
Free cash flow4,793,000,000
  • Derivation. FY2025 (10-K, accession 0001628280-26-009059) plus the six months ended June 30, 2026, less the six months ended June 30, 2025 (both from the Q2 2026 10-Q, accession 0001628280-26-053388)

Adjustments

Splits appliednone
ADR ration/a
FXNone. Occidental reports in U.S. dollars, so no currency translation was applied.

Notes

  • Schema: Occidental is an upstream oil and gas producer with a midstream and marketing segment, so the record follows its own statement of operations (net sales, total revenues and other income, and its cost lines) rather than a revenue / cost of revenue / gross profit layout; the company prints no cost of revenue or gross profit line.
  • Fiscal years 2025, 2024 and 2023 (income statement, cash flow and EPS) and the December 31, 2025 and 2024 balance sheets come from the FY2025 10-K (accession 0001628280-26-009059). The quarters ended June 30, 2026 and June 30, 2025, the six-month periods and the June 30, 2026 balance sheet come from the Q2 2026 10-Q (accession 0001628280-26-053388). The 10-Q's December 31, 2025 balance sheet column matches the 10-K exactly.
  • The 10-Q prints its cash flow statement for the six months only. The three-month cash flow figures for the quarters ended June 30, 2026 and June 30, 2025 are taken from the quarterly cash flow schedule in the Q2 2026 earnings release, Exhibit 99.1 to the Form 8-K filed August 5, 2026 (accession 0001628280-26-053377), as each quarter's cash_flow_source_accession records. That schedule's quarters add to the 10-Q's six-month totals (net cash provided by operating activities 1,281 + 4,271 = 5,552 million for 2026 and 2,148 + 2,960 = 5,108 million for 2025; capital expenditures 1,554 + 1,589 = 3,143 million and 1,682 + 1,705 = 3,387 million).
  • Discontinued operations: Occidental agreed in October 2025 to sell OxyChem, its chemical business, to Berkshire Hathaway; the sale closed on January 2, 2026 for an adjusted price of $9.5 billion, subject to post-closing adjustments. OxyChem is reported as discontinued operations in every period shown, and its results sit in income from discontinued operations, net of tax, below income from continuing operations. Net income for the six months ended June 30, 2026 includes $3,119 million of discontinued operations income; income from continuing operations for that period was $3,236 million.
  • Because of the OxyChem sale, the company retrospectively adjusted all periods presented so that sales from its oil and gas and midstream and marketing segments to the former chemical segment are no longer eliminated. The quarter ended June 30, 2025 shown here is therefore on the recast basis printed in the Q2 2026 10-Q and can differ from the figures originally reported for that quarter.
  • Line items keep one name across periods even where the caption differs slightly: general_and_administrative_expense is captioned 'Selling, general and administrative expense' in the 10-K and 'General and administrative expense' in the 10-Q; income_before_income_taxes is 'Income from continuing operations before income taxes' in the 10-K and 'Income before income taxes' in the 10-Q; preferred_stock_dividends is 'Preferred stock dividends and redemption premiums' in the 10-K (FY2023 includes redemption premiums) and 'Preferred stock dividends' in the 10-Q. purchased_commodities_and_midstream_cost_of_sales appears only in the 10-K's annual statement.
  • Signs follow the statements: income tax expense, net income attributable to noncontrolling interest and preferred stock dividends are shown in parentheses as deductions on the statement of operations and are stored as negative numbers; cash outflows (capital expenditures, debt payments, dividends paid, treasury stock purchases) are stored as negative numbers, as the cash flow statement prints them. A dash printed by the filing is stored as zero.
  • Earnings per share: net_income_attributable_to_common_stockholders is net income less income attributable to the noncontrolling interest (the BlackRock direct air capture joint venture) and preferred stock dividends. Occidental strikes EPS under the two-class method, so diluted EPS equals net_income_used_for_diluted_eps (net income attributable to common stock less the incremental fair value of a 2025 warrant inducement and income allocated to participating securities, as printed in the earnings per share note) divided by diluted_shares.
  • total_debt is the sum of current maturities of long-term debt and long-term debt, net, as carried on the balance sheet; the balance sheet prints no total debt line.
  • free_cash_flow is net cash provided by operating activities less capital expenditures, both as printed on the GAAP cash flow statement. Net cash provided by operating activities includes cash flow from discontinued operations (in the six months ended June 30, 2026 an outflow of $926 million from the former chemical business), while the capital expenditures line covers continuing operations. This is not the company's own non-GAAP 'free cash flow before working capital - continuing operations' measure, which its earnings release reports separately. operating_cash_flow_from_continuing_operations is also recorded for each period.
  • The trailing twelve months ended June 30, 2026 are derived as fiscal 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. For the cash flow lines the result equals the sum of the four quarters printed in the earnings release's quarterly cash flow schedule (third and fourth quarters of 2025, first and second quarters of 2026). Per-share figures are not derived for this period.
  • Operating metrics: quarterly and six-month sales volumes (thousands of barrels of oil equivalent per day) and worldwide average realized prices come from the oil and gas segment tables in the Q2 2026 10-Q's management's discussion; that table prints no column for the quarter ended June 30, 2025, so that quarter's sales volumes and realized and WTI prices come from the 2025 second-quarter column of the Q2 2026 earnings release's schedule of oil and gas net sales volumes per day and realized prices by geographic location (accession 0001628280-26-053377). Annual sales volumes (millions of barrels of oil equivalent per year) come from the 10-K's comparative proved reserves and sales volumes table, annual realized prices from its average realized prices table (ongoing operations), and annual average WTI from its oil and gas price environment table, which covers 2025 and 2024 only.
  • The worldwide realized natural gas price for the quarter ended June 30, 2026 was negative ($(0.80) per Mcf, with a U.S. realized price of $(1.48) per Mcf), as printed in the 10-Q.
  • No stock splits occurred in the periods covered, Occidental is not an ADR issuer, and all figures are reported in U.S. dollars, so no split, ADS or currency adjustment was applied.

Uncertainties

  • The three-month cash flow figures for the quarters ended June 30, 2026 and June 30, 2025 come from the earnings release furnished on Form 8-K rather than from the 10-Q, which prints only six-month cash flows. They reconcile exactly to the 10-Q's six-month totals when combined with the first-quarter columns of the same schedule.
  • The 10-Q's management's discussion compares the second quarter of 2026 with the first quarter of 2026, but the financial statements do not present the quarter ended March 31, 2026, so it is not recorded as a quarter here.

Company details

NameOccidental Petroleum Corp /De/
TickerOXY
CIK0000797468
ExchangeNYSE
StateTexas
IncorporationDelaware
SIC1311
OfficeEnergy & Transportation
IndustryCrude Petroleum & Natural Gas

Fiscal period

Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0001628280-26-053388
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionSource
annualno10-K2025FYFY252025-12-312026-02-180001628280-26-009059reported
quarterlyyes10-Q2026Q2FY26Q22026-06-302026-08-050001628280-26-053388facts

FAQ · Occidental Petroleum financial statements

How much revenue did Occidental Petroleum make in Q2 FY2026?

Occidental Petroleum reported net sales of $8.06 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 53.4% from $5.26 billion in the same quarter a year earlier.

What was Occidental Petroleum's net income in Q2 FY2026?

Occidental Petroleum's net income attributable to common stockholders was $2.81 billion for Q2 FY2026, the quarter ended June 30, 2026, up 874.7% from $288 million in the same quarter a year earlier. The year-ago figure included the OxyChem chemical business, which Occidental has since sold and now reports as discontinued operations.

What was Occidental Petroleum's earnings per share in Q2 FY2026?

Occidental Petroleum earned $2.75 per diluted share in Q2 FY2026, the quarter ended June 30, 2026, compared with $0.26 in the same quarter a year earlier.

What price did Occidental Petroleum get for its oil in Q2 FY2026?

Occidental Petroleum's worldwide realized oil price averaged $96.78 a barrel in Q2 FY2026, the quarter ended June 30, 2026.

Where can I get Occidental Petroleum Corporation (OXY) financial data in machine-readable form?

Ticker Scout publishes Occidental Petroleum Corporation's financial statements as JSON at https://tickerscout.ai/oxy/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/oxy/narrative.md and https://tickerscout.ai/oxy/events.md. Occidental Petroleum Corporation's SEC CIK is 0000797468. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Occidental Petroleum Corporation (OXY) next file with the SEC?

Occidental Petroleum Corporation (OXY) is expected to file its next Form 10-Q with the SEC on or around November 9, 2026. That date is a projection rather than a company-announced date: it is derived from Occidental Petroleum Corporation's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0001628280-26-053388.

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