OXY - Occidental Petroleum Q4 Earnings Highlights: Buffett-Backed Oil Company Beats Estimates Looks To M&A For Growth | Benzinga
Oil giant Occidental Petroleum reported fourth-quarter earnings after the market close Wednesday.
Here are the key highlights.
What Happened: Occidental Petroleum reported earnings per share of 74 cents for the fourth quarter, which beat a Street consensus estimate of 71 cents per share, according to data from Benzinga Pro.
"Our teams performed exceptionally well during the fourth quarter of 2023, concluding another year of operational excellence across all three business segments," Occidental CEO Vicki Hollub said.
The company reported pre-tax income of $1.6 billion for the oil and gas segment, which was down from $2 billion in the third quarter. Occidental said it had higher lease operating expenses and lower domestic ...