OXY(US:OXY) ZACKS·2026-02-19 17:15Core Insights - Occidental Petroleum Corporation (OXY) reported fourth-quarter 2025 earnings of 31 cents per share, exceeding the Zacks Consensus Estimate of 19 cents by 63.2%, although the bottom line dropped 61.3% year over year [1] - Total revenues for the fourth quarter were $5.42 billion, missing the Zacks Consensus Estimate of $5.88 billion by 7.8% and reflecting a 5.2% decline year over year [2] - Adjusted earnings for 2025 were $2.21 per share, down 36.1% from $3.46 in 2024 [1] Revenue and Segment Performance - Oil and Gas revenues in Q4 totaled $4.81 billion, a decrease of 14.5% year over year [3] - Midstream & Marketing revenues surged to $451 million, up 196.7% year over year [3] - Total revenues for 2025 were $22.08 billion, a slight decline of 0.5% from $22.2 billion in 2024 [2] Production and Sales - Total production volume reached 1,481 thousand barrels of oil equivalent per day (Mboe/d), exceeding the company's guidance of 1,440-1,480 Mboe/d [4] - Total sales volume was 1,480 Mboe/d, reflecting a 1.2% increase from the previous year [4] Pricing Trends - Realized prices for crude oil fell 15.1% year over year to $59.22 per barrel [5] - Realized natural gas liquid prices decreased by 23.5% year over year to $16.68 per barrel [5] - Natural gas prices dropped 11.1% year over year to $1.12 per thousand cubic feet [5] Financial Position and Debt Management - Occidental completed the OxyChem sale, reducing debt by $5.8 billion since mid-December 2025, bringing total principal debt to $15 billion [6] - Total costs in Q4 were $4.84 billion, down 7.3% from $5.22 billion in the previous year [9] - Interest and debt expenses decreased by 26.6% to $232 million from $316 million year over year [9] Cash Flow and Capital Expenditure - Operating cash flow for 2025 was $11.57 billion, slightly down from $11.72 billion in 2024 [11] - Total capital expenditure in 2025 was $6.43 billion, compared to $6.26 billion in the previous year [11] Future Guidance - For Q1 2026, OXY expects production between 1,385-1,425 Mboe/d, with Permian Resources output anticipated at 766-786 Mboe/d [12] - Capital expenditure for 2026 is projected to be between $5.5 billion and $5.9 billion [13]