Occidental tops Q3 estimates as production surges; outlines cautious 2025 plans

Oil pump, oil industry equipment

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Occidental Petroleum (NYSE:OXY) +1.6% in Wednesday’s trading after comfortably beating Q3 adjusted earnings expectations, as production reached new highs following the closing of its $12B acquisition of CrownRock.

Q3 net income fell to $964M, or $0.98/share, from $1.15B, or $1.20/share, in the year-earlier quarter, while revenues fell 3% Y/Y to $7.15B.

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