Occidental Petroleum reported a solid financial performance for the three months ended June 30, 2024, with income from continuing operations rising to $1.17 billion from $860 million in the same period in 2023. The company's net income also saw an increase, reaching $1.17 billion compared to $860 million year-on-year. After accounting for noncontrolling interest and preferred stock dividends, net income attributable to common stock stood at $992 million, up from $605 million in the previous year. Basic income per common share increased to $1.10 from $0.68, while diluted income per common share rose to $1.03 from $0.63. Occidental's business development was marked by a $487 million cash inflow from the exercise of common stock warrants in the first half of 2024. The company operates through three segments: oil and gas, chemical...Show More

Occidental Petroleum reported a solid financial performance for the three months ended June 30, 2024, with income from continuing operations rising to $1.17 billion from $860 million in the same period in 2023. The company's net income also saw an increase, reaching $1.17 billion compared to $860 million year-on-year. After accounting for noncontrolling interest and preferred stock dividends, net income attributable to common stock stood at $992 million, up from $605 million in the previous year. Basic income per common share increased to $1.10 from $0.68, while diluted income per common share rose to $1.03 from $0.63. Occidental's business development was marked by a $487 million cash inflow from the exercise of common stock warrants in the first half of 2024. The company operates through three segments: oil and gas, chemical, and midstream and marketing. The oil and gas segment reported net sales of $5.469 billion and income before taxes of $1.639 billion for the quarter, indicating robust performance. Looking ahead, Occidental's future plans include managing outstanding warrants and continuing to develop its three core business segments, aiming to maintain its growth trajectory and enhance shareholder value.