trending Market Intelligence /marketintelligence/en/news-insights/trending/xhOD7c3rit7SozIfP0AfoA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Occidental Petroleum swings to loss in Q3

Southeast Asian broadband providers report varying performance amid COVID-19

Cable networks react to pandemic by cutting SG&A, programming costs

CUSIP Requests for Municipal Securities Continue to Rise

Infographic: 2020 Global Mining Exploration Trends

Occidental Petroleum swings to loss in Q3

Occidental Petroleum Corp. said its third-quarter normalized net income amounted to a loss of $2.49 per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share result swung to a loss from the prior-year profit of $1.36.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.90 billion, compared with income of $1.06 billion in the year-earlier period.

The normalized profit margin declined to negative 61.0% from 21.6% in the year-earlier period.

Total revenue fell 36.5% year over year to $3.12 billion from $4.90 billion, and total operating expenses grew 87.4% from the prior-year period to $6.20 billion from $3.31 billion.

Reported net income totaled a loss of $2.60 billion, or a loss of $3.41 per share, compared with income of $995.5 million, or $1.28 per share, in the year-earlier period.