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Occidental Petroleum profits soar YOY in Q2 but miss expectations

Occidental Petroleum Corp. on Aug. 8 reported $848 million, or $1.10 per share, in adjusted net income for the second quarter, compared to $507 million, or 66 cents per share, a year earlier.

The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was $1.22 per share.

Occidental Petroleum recorded revenue of $4.13 billion in the second quarter, compared to $3.60 billion in the second quarter of 2017. Production came to 639,000 barrels of oil equivalent per day, compared to 601,000 boe/d in the second quarter of 2017.