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Compared to Estimates, Occidental (OXY) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Occidental Petroleum (OXY - Free Report) reported revenue of $7.4 billion, down 22.1% over the same period last year. EPS came in at $1.18, compared to $2.44 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.19 billion, representing a surprise of +2.85%. The company delivered an EPS surprise of +32.58%, with the consensus EPS estimate being $0.89.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Occidental performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Worldwide Sales - Total Continuing Operations Production Per Day: 1220 millions of barrels of oil equivalent versus the seven-analyst average estimate of 1190.89 millions of barrels of oil equivalent.
Average Realized Prices - Natural Gas - Total Worldwide: $1.9 per thousand cubic feet compared to the $1.92 per thousand cubic feet average estimate based on six analysts.
Average Realized Prices - NGLs - Total Worldwide: $21.04 per barrel of oil equivalent versus the six-analyst average estimate of $21.89 per barrel of oil equivalent.
Average Realized Prices - Oil - Total Worldwide: $80.7 per barrel compared to the $80.78 per barrel average estimate based on six analysts.
Average Realized Prices - Natural Gas - United States: $1.92 per thousand cubic feet compared to the $1.94 per thousand cubic feet average estimate based on three analysts.
Average Realized Prices - Natural Gas - International: $1.87 per thousand cubic feet compared to the $1.66 per thousand cubic feet average estimate based on three analysts.
Average Realized Prices - NGLs - United States: $20.22 per barrel versus the three-analyst average estimate of $21.97 per barrel.
Net sales- Oil and gas: $5.59 billion versus the four-analyst average estimate of $5.48 billion. The reported number represents a year-over-year change of -21.2%.
Net sales- Chemical: $1.31 billion versus $1.31 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -22.6% change.
Net sales- Midstream & marketing: $552 million compared to the $702.75 million average estimate based on four analysts. The reported number represents a change of -45.1% year over year.
Net sales- Eliminations: -$297 million versus the four-analyst average estimate of -$311.55 million. The reported number represents a year-over-year change of -26.5%.
Interest, dividends and other income: $50 million versus the two-analyst average estimate of $39 million.
Shares of Occidental have returned -3.8% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Occidental (OXY) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Occidental Petroleum (OXY - Free Report) reported revenue of $7.4 billion, down 22.1% over the same period last year. EPS came in at $1.18, compared to $2.44 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.19 billion, representing a surprise of +2.85%. The company delivered an EPS surprise of +32.58%, with the consensus EPS estimate being $0.89.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Occidental performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Worldwide Sales - Total Continuing Operations Production Per Day: 1220 millions of barrels of oil equivalent versus the seven-analyst average estimate of 1190.89 millions of barrels of oil equivalent.
- Average Realized Prices - Natural Gas - Total Worldwide: $1.9 per thousand cubic feet compared to the $1.92 per thousand cubic feet average estimate based on six analysts.
- Average Realized Prices - NGLs - Total Worldwide: $21.04 per barrel of oil equivalent versus the six-analyst average estimate of $21.89 per barrel of oil equivalent.
- Average Realized Prices - Oil - Total Worldwide: $80.7 per barrel compared to the $80.78 per barrel average estimate based on six analysts.
- Average Realized Prices - Natural Gas - United States: $1.92 per thousand cubic feet compared to the $1.94 per thousand cubic feet average estimate based on three analysts.
- Average Realized Prices - Natural Gas - International: $1.87 per thousand cubic feet compared to the $1.66 per thousand cubic feet average estimate based on three analysts.
- Average Realized Prices - NGLs - United States: $20.22 per barrel versus the three-analyst average estimate of $21.97 per barrel.
- Net sales- Oil and gas: $5.59 billion versus the four-analyst average estimate of $5.48 billion. The reported number represents a year-over-year change of -21.2%.
- Net sales- Chemical: $1.31 billion versus $1.31 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -22.6% change.
- Net sales- Midstream & marketing: $552 million compared to the $702.75 million average estimate based on four analysts. The reported number represents a change of -45.1% year over year.
- Net sales- Eliminations: -$297 million versus the four-analyst average estimate of -$311.55 million. The reported number represents a year-over-year change of -26.5%.
- Interest, dividends and other income: $50 million versus the two-analyst average estimate of $39 million.
View all Key Company Metrics for Occidental here>>>Shares of Occidental have returned -3.8% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.