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Occidental Petroleum (OXY) investor relations material

Occidental Petroleum Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Operating cash flow reached $2.6B–$3.0B in Q2 2025, exceeding prior year despite lower oil prices.

  • Net income attributable to common stockholders was $288M ($0.26/share); adjusted income was $396M ($0.39/share).

  • $7.5B in debt repaid over 13 months, reducing annual interest expense by ~$410M.

  • Announced $950M in additional divestitures, totaling nearly $4B since January 2024.

  • Advanced major low-carbon projects, including Stratos DAC, with key milestones and new carbon offtake agreements.

Financial highlights

  • Q2 2025 revenue: $6.4B–$6.46B; net income: $288M; adjusted income: $396M.

  • Operating cash flow before working capital: $2.6B; free cash flow before working capital: ~$700M.

  • Exited Q2 with $2.3B unrestricted cash on balance sheet.

  • Capital expenditures for Q2 2025: $2.0B; for H1 2025: $3.9B.

  • Average realized oil price: $63.76/bbl, down from Q1 2025 and Q2 2024.

Outlook and guidance

  • Q3 2025 production guidance: 1,415–1,460 Mboed; FY25: 1,400–1,430 Mboed.

  • 2025 capital guidance midpoint reduced by $100M; $500M in cost reductions identified year-to-date.

  • OxyChem FY25 pre-tax income guidance: $0.8–$0.9B.

  • Estimated $700M–$800M cash tax benefit from new legislation, with 35% realized in 2025.

  • Strategic priorities: maintain production, grow dividends, prioritize deleveraging, and advance low-carbon businesses.

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Frequently asked questions

Occidental Petroleum Corporation is an oil and gas company. The Company explores, develops, produces and markets crude oil, natural gas, and natural gas liquids. The Company's segments include United States (Domestic), Middle East / North Africa (Gulf Coast), Latin America, Asia Pacific and Other.

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