EARNINGS & CATALYSTS · November 5, 2026
Occidental earnings preview for November 9, 2026: Can oil cash flow cut debt further?
Occidental reports after the close on November 9. Production, realized oil prices and capital spending will help explain how much cash it can put toward debt.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| Occidental Petroleum Corporation (OXY) | November 9, 2026Issuer confirmed | After close | 1.45 | 6.8B |
1) When will Occidental report?
Occidental confirmed it will release September-quarter results after the close on November 9, 2026. On November 2, Zacks estimated $1.43 in earnings per share and $6.73 billion in revenue.
2) What determines the pace of debt repayment?
Occidental produces oil and natural gas in the United States and abroad. It also earns money transporting and marketing energy. Occidental cut principal debt by $1.9 billion in the June quarter to $11.8 billion. The next report will show how much cash its oil and gas business generated and how close it moved toward its $10 billion debt milestone. Compare production, the average selling price and capital spending to see how much of the quarter’s operating cash is available.
3) What could slow the progress?
Lower oil prices can squeeze cash flow even if production holds up. Higher drilling or transportation costs can leave less cash available for debt repayment. Occidental’s most recent full-year spending range was $5.5 billion to $5.9 billion.
4) What did Chevron report?
Chevron reported $5.28 in adjusted diluted earnings per share on October 30. It also reported record crude throughput at its U.S. refineries. Refining contributes to Chevron’s results, while Occidental’s September-quarter cash flow is more directly tied to production and the prices it received.
5) How the business makes money
Occidental produces oil and natural gas in the United States and abroad. It also earns money transporting and marketing energy.
6) What to watch
Occidental cut principal debt by $1.9 billion in the June quarter to $11.8 billion. The next report will show how much cash its oil and gas business generated and how close it moved toward its $10 billion debt milestone.
7) Recently reported peers
Chevron reported $5.28 in adjusted diluted earnings per share on October 30. It also reported record crude throughput at its U.S. refineries. Refining contributes to Chevron’s results, while Occidental’s September-quarter cash flow is more directly tied to production and the prices it received.
8) Risks into the report
Lower oil prices can squeeze cash flow even if production holds up. Higher drilling or transportation costs can leave less cash available for debt repayment.