Occidental Petroleum Announced Q1 2025 Results

SEATTLE (Oil Monster): Oil drilling major Occidental Petroleum announced first quarter 2025 results.

The company reported earnings per share of $0.77 during the quarter. The adjusted earnings per share of $0.87 stood higher than estimates of $0.78. The reported net sales were $6.8 billion, lower than analysts’ forecast of $6.96 billion. Also, strong operational performance during the quarter resulted in operating cash flow of $2.1 billion and operating cash flow before working capital of $3.0 billion in Q1 2025. Meanwhile, the capital spending for the quarter was $1.9 billion.

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The oil and gas pre-tax income for the first quarter of 2025 was $1.7 billion, compared to pre-tax income of $1.2 billion for Q4 2024. The rise in income was mainly on account of higher domestic realized commodity prices, which were partially offset by lower sales volumes, a company news release said. 

The total average global production for the first quarter of the year was 1.391 Million barrels of oil equivalent per day (Mboed).

Commenting on the results, Vicki Hollub, President and Chief Executive Officer noted that the company continued to rapidly advance towards its debt reduction goals. Furthermore, he expressed the hope that the company’s deep, diverse portfolio of high-quality assets positions the company for success in any market environment.