Summary by Moomoo AI
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