Occidental closed fiscal 2025 by selling its chemicals arm to Berkshire and narrowing operations to a focused drilling business. Q4 results showed adjusted EPS of $0.31 on $5.42 billion revenue, with a $68 million net loss linked to the OxyChem sale. Production reached 1,481 Mboed and beat guidance, with the Permian contributing during the quarter. The Berkshire transaction reduced principal debt by $5.8 billion to $15 billion and increased the dividend by 8% to $0.26 per share. Exxon opened Q1 2026 with its first Golden Pass LNG cargo and executed nearly $5 billion in stock buybacks. Adjusted EPS was $1.16, revenue was $85.14 billion, and underlying earnings were $8.77 billion, supported by strong Guyana production and cost savings.
"Occidental wrapped fiscal 2025 by selling its chemicals arm to Berkshire and shrinking into a focused driller. Occidental's Q4 was about subtraction. Adjusted EPS came in at $0.31 on revenue of $5.42 billion, with a $68 million net loss tied to the OxyChem sale. Production beat guidance at 1,481 Mboed, and the Permian carried the quarter."
"Exxon opened Q1 2026 by loading its first Golden Pass LNG cargo and buying back nearly $5 billion in stock. With WTI at $101.56, the comparison matters. Exxon’s quarter was about scale absorbing shocks. Adjusted EPS hit $1.16, beating the $1.01 consensus by 15.15%, while revenue of $85.14 billion landed roughly in line."
"CEO Vicki Hollub framed the moment plainly: "With our enhanced balance sheet following the sale of OxyChem, we remain focused on generating resilient free cash flow." The Berkshire deal cut principal debt by $5.8 billion to $15 billion, and the dividend rose 8% to $0.26 per share."
"Hollub is simplifying. Woods is compounding. Exxon's structural cost savings since 2019 reached $15.6 billion, with a $20 billion buyback planned for 2026 and 43 consecutive years of dividend growth. Occidental's beta of 0.17 understates its operating leverage to crude. That low forward multiple is the market pricing a debt overhang that is now meaningfully smaller."
Read at 24/7 Wall St.
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