• March 7, 2021

Occidental: 4Q Earnings Snapshot - Odessa American: Business

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Occidental: 4Q Earnings Snapshot

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Posted: Monday, February 22, 2021 5:27 pm | Updated: 5:48 pm, Mon Feb 22, 2021.

HOUSTON (AP) — Occidental Petroleum Corp. (OXY) on Monday reported a loss of $1.11 billion in its fourth quarter.

On a per-share basis, the Houston-based company said it had a loss of $1.41. Losses, adjusted for one-time gains and costs, were 78 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.

The oil and gas exploration and production company posted revenue of $3.35 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $4.31 billion.

For the year, the company reported that its loss widened to $14.83 billion, or $17.06 per share. Revenue was reported as $16.26 billion.

Occidental shares have risen 53% since the beginning of the year, while the Standard & Poor's 500 index has risen 3%. In the final minutes of trading on Monday, shares hit $26.47, a fall of 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXY at https://www.zacks.com/ap/OXY

© 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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