Occidental Petroleum reports blowout Q3 earnings

Investing.com – Occidental Petroleum on Tuesday reported blowout third-quarter earnings, driven by strong operational performance.

Occidental Petroleum Corporation (NYSE:OXY) rose more than 1% in after-hours trade following the report.

The company reported Q3 EPS of $1 on revenue of $7.15B, compared with analyst estimates for $0.74 and $7.15B, respectively. 

“Strong operational performance drove operating cash flow of $3.8 billion and operating cash flow before working capital of $3.1 billion,” the company said.

Production was 1.412M of barrels of oil equivalent per day in Q3, up from 1.220M boed in the same period a year earlier.