OXY Q4 2025 Earnings
Reported Feb 18, 2026 at 4:15 PM ET · SEC Source
Q4 25 EPS
$0.31
Q4 25 Revenue
$5.42B
vs S&P Since Q4 25
+15.8%
BEATING MARKET
OXY +21.1% vs S&P +5.3%
Full Year 2025 Results
FY 25 EPS
$2.21
FY 25 Revenue
$22.08B
Market Reaction
Did OXY Beat Earnings? Q4 2025 Results
Occidental Petroleum closed out Q4 2025 with a headline loss but a more encouraging underlying story, posting adjusted earnings of $0.31 per diluted share on revenue of $5.42 billion as the company navigated sharply lower commodity prices while compl… Read more Occidental Petroleum closed out Q4 2025 with a headline loss but a more encouraging underlying story, posting adjusted earnings of $0.31 per diluted share on revenue of $5.42 billion as the company navigated sharply lower commodity prices while completing one of its most consequential portfolio moves in years. The reported net loss of $68 million, driven by charges tied to the sale of its OxyChem chemicals business, which closed January 2, 2026, masked solid operational execution, including total production of 1,481 Mboed that came in above the high end of guidance. Average realized crude prices fell 9% sequentially to $59.22 per barrel and NGL prices dropped 15% to $16.68 per barrel, compressing margins across the board. Yet the OxyChem divestiture unlocked a powerful deleveraging move, with Occidental using proceeds to cut principal debt by $5.8 billion, bringing the total to $15 billion. Management paired that balance sheet progress with an 8% dividend increase to $0.26 per share quarterly, signaling confidence in generating resilient free cash flow as the company positions for long-term value creation.
Key Takeaways
- • Total company production of 1,481 Mboed exceeded high end of Q4 guidance, led by Permian and Rockies
- • Midstream and marketing results exceeded high end of guidance driven by gas margin optimization and lower crude transportation costs
- • Operational excellence and cost efficiency drove production and operating expense outperformance
- • Higher sulfur prices at Al Hosn contributed to midstream results
- • Lower realized commodity prices across all products pressured oil and gas income — crude oil down 9%, NGL down 15%, domestic gas down 24% sequentially
OXY Forward Guidance & Outlook
Occidental is focused on generating resilient free cash flow and maintaining flexibility in capital and development programs to support near- and long-term value creation, bolstered by the enhanced balance sheet following the OxyChem sale. The company has reduced principal debt to $15.0 billion and increased its quarterly dividend by more than 8% to $0.26 per share.
OXY YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
OXY Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our emphasis on operational excellence and cost efficiency drove meaningful production and operating expense outperformance during the fourth quarter. The quality of our assets and the exceptional execution by our teams enabled us to surpass full‑year guidance across our oil and gas and midstream businesses. With our enhanced balance sheet following the sale of OxyChem, we remain focused on generating resilient free cash flow and maintaining flexibility in our capital and development programs to support near- and long-term value creation.”
— Vicki Hollub, Q4 2025 Earnings Press Release
OXY Earnings Trends
OXY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OXY EPS Trend
Earnings per share: estimate vs actual
OXY Revenue Trend
Quarterly revenue: estimate vs actual
OXY Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 FY | — | $0.31 | — | $5.42B | — |
| FY Full Year | — | $2.21 | — | $22.08B | — |
| Q3 25 BEAT | $0.49 | $0.64 | +29.90% | $6.62B | -1.73% |
| Q2 25 BEAT | $0.31 | $0.39 | +24.80% | $6.46B | +2.66% |
| Q1 25 BEAT | $0.76 | $0.87 | +13.99% | $6.84B | -0.91% |