OCCIDENTAL PETROLEUM CORP /DE/ Quarterly Report for Q3 Ended Sep 30, 2025

Summary

Occidental Petroleum Corporation's third-quarter 2025 report shows a solid financial performance, though with some year-over-year declines in key metrics. Net income attributable to common stockholders was $661 million, or $0.65 per diluted share, compared to $964 million, or $0.98 per diluted share, in the prior year's third quarter. This decrease was primarily driven by lower commodity prices, particularly for crude oil, which impacted the oil and gas segment's profitability, and increased depreciation from the full integration of CrownRock assets. A significant strategic development is the announced sale of OxyChem to Berkshire Hathaway for $9.7 billion, expected to close in Q4 2025. Occidental intends to use the majority of these proceeds for debt reduction, a key priority. The company also reported continued deleveraging efforts through debt repayments and warrant exercises, strengthening its balance sheet. While the company navigates ongoing commodity price volatility and inflationary pressures, its focus remains on maintaining production, delivering a sustainable dividend, and advancing its low-carbon ventures.

Key Highlights

• 1Net income attributable to common stockholders decreased year-over-year to $661 million ($0.65/share) from $964 million ($0.98/share) in Q3 2024, impacted by lower commodity prices.
• 2Occidental announced the sale of OxyChem to Berkshire Hathaway for $9.7 billion, expected to close in Q4 2025, with proceeds primarily designated for debt reduction.
• 3Total assets decreased to $83.5 billion as of September 30, 2025, from $85.4 billion as of December 31, 2024, largely due to debt repayments and asset divestitures.
• 4Long-term debt, net, was reduced to $20.8 billion from $25.0 billion, reflecting proactive debt management and the use of proceeds from asset sales and warrant exercises.
• 5Net cash provided by operating activities for the first nine months of 2025 was $7.9 billion, a slight decrease from $8.1 billion in the same period of 2024, influenced by higher income tax and interest payments.
• 6Capital expenditures for the first nine months of 2025 were $5.7 billion, an increase from $5.2 billion in the prior year, reflecting ongoing investments primarily in the oil and gas segment, including CrownRock assets.
• 7The company reported progress in its low-carbon ventures, though specific financial contributions are not detailed separately in this filing.

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