Occidental Petroleum (OXY) Tops Q1 EPS by 11c

Occidental Petroleum (NYSE: OXY) reported Q1 EPS of ($0.52), $0.11 better than the analyst estimate of ($0.63). Revenue for the quarter came in at $0 versus the consensus estimate of $5.18 billion.

• Enhanced short-term resilience through extensive capital spending and cost reductions
• Continued to reduce 2020 capital program; greater than 50 percent from initial program to between
  $2.4 billion - $2.6 billion
• Identified $1.2 billion in operating and overhead cost reductions to be realized in 2020 in addition to achieving $1.1 billion overhead and operating expense synergy target one year ahead of schedule

For earnings history and earnings-related data on Occidental Petroleum (OXY) click here.

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