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AI English summary of an SEC filing — figures as filed

Occidental Petroleum logoOccidental Petroleum OXY

The company said net income attributable to common stockholders for Q3 2024 was $964 million ($0.98 per diluted share), and adjusted income was $977 million ($1.00 per diluted share).

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said net income attributable to common stockholders for Q3 2024 was $964 million ($0.98 per diluted share), and adjusted income was $977 million ($1.00 per diluted share).

  2. Occidental said operating cash flow for Q3 was $3.8 billion and operating cash flow before working capital was $3.1 billion. It said free cash flow before working capital, after capital expenditures of $1.7 billion and contributions from noncontrolling interest of $47 million, was $1.5 billion.

  3. The company said oil and gas pre-tax income for Q3 was $1.2 billion (compared with Q2 $1.6 billion), and included a net loss of $572 million on sales of non-core U.S. onshore assets. Total production of 1,412 Mboed exceeded the mid-point of guidance by 22 Mboed.

  4. The company said midstream and marketing pre-tax income for Q3 was $631 million, including a gain of $490 million on the sale of Western Midstream Partners units and net derivative gains of $142 million. OxyChem pre-tax income was $304 million.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

Q3 Net Income and Adjusted Income

The company said net income attributable to common stockholders for Q3 2024 was $964 million ($0.98 per diluted share), and adjusted income was $977 million ($1.00 per diluted share).

Source · Based on the filing body and exhibits

Operating Cash Flow and Free Cash Flow

Occidental said operating cash flow for Q3 was $3.8 billion and operating cash flow before working capital was $3.1 billion. It said free cash flow before working capital, after capital expenditures of $1.7 billion and contributions from noncontrolling interest of $47 million, was $1.5 billion.

Source · Based on the filing body and exhibits

Oil and Gas Pre-Tax Income and Production

The company said oil and gas pre-tax income for Q3 was $1.2 billion (compared with Q2 $1.6 billion), and included a net loss of $572 million on sales of non-core U.S. onshore assets. Total production of 1,412 Mboed exceeded the mid-point of guidance by 22 Mboed.

Source · Based on the filing body and exhibits

Midstream and Marketing and OxyChem Pre-Tax Results

The company said midstream and marketing pre-tax income for Q3 was $631 million, including a gain of $490 million on the sale of Western Midstream Partners units and net derivative gains of $142 million. OxyChem pre-tax income was $304 million.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.