Occidental Petroleum’s upcoming 4Q15 earnings and revenue
Occidental Petroleum (OXY) is set to report its 4Q15 earnings on February 4, 2016. For 4Q15, Wall Street analysts expect OXY to report an adjusted loss of $0.12 per share. That’s lower by $0.84 per share compared with its 4Q14 profit of $0.72 per share. Even when compared sequentially with 3Q15, OXY’s 4Q15 earnings expectations are lower by $0.15 per share.
For 4Q15, Wall Street analysts expect OXY to report revenue of ~$2.9 billion, which is lower by ~33% when compared with 4Q14 revenue of ~$4.3 billion. When compared sequentially with 3Q15, OXY’s 4Q15 revenue expectations are still lower by ~7%. The lower YoY (year-over-year) revenue expectations for 4Q15 are the direct result of the steep decline in crude oil and natural gas prices.
OXY’s earnings trend
As you can see in above graph, OXY is reporting much lower earnings in 2015 due to lower realized crude oil and natural gas prices. The fourth quarter will see OXY’s adjusted earnings turn negative for the first time since 2009.
In 3Q15, excluding the one-time items, OXY reported profits of $0.03 per share, which was $0.04 better than the consensus of a loss of $0.01 per share. Its revenues fell ~48% year-over-year to ~$3.1 billion. Since 1Q13, OXY has beaten earnings expectations 64% of the time.
Due to the steep downward trend in energy prices, almost all S&P 500 (SPY) upstream companies have been hit. Southwestern Energy (SWN), EOG Resources (EOG), and Consol Energy (CNX) are expected to report declilnes of 22%, 49%, and 20%, respectively, year-over-year in their 4Q15 revenues.
OXY’s 2015 earnings and revenue estimates
For 2015, Wall Street analysts expect OXY to report an adjusted profit of $0.18 per share, which is lower by ~96% when compared with 2014 profits of $4.83 per share.
For 2015, Wall Street analysts expect OXY to report revenue of ~$12.8 billion, which is lower by ~34% when compared with 2014 revenue of $19.3 billion.