Occidental Petroleum publishes Q3 2026 earnings call transcript
OXY•Occidental Petroleum reported third-quarter adjusted earnings of $1.91 per diluted share and approximately $2.8 billion in free cash flow. Management expects 2027 capital spending of approximately $5.9 billion and targets more than $4 billion in annual sustainable cash flow improvement by 2030 versus 2025.
1. Earnings and targets
Occidental Petroleum reported quarterly adjusted earnings of $1.91 per diluted share and approximately $2.8 billion in free cash flow. The company said it had reached its $10 billion debt milestone and set a new $6 billion principal debt target. Management expects approximately $5.9 billion in 2027 capital spending to support relatively flat production compared with 2026, and targets $700 million-$800 million in incremental sustainable cash flow improvement in 2027, as part of an annual improvement target above $4 billion by 2030 versus 2025.
