Occidental Petroleum Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 9, 2026, reporting continued operations following the January 2026 close of its OxyChem divestiture.

Key Highlights

  • Net sales of $6.567 billion for the three months ended September 30, 2026, compared to $5.519 billion in the same period of 2025, according to the filing.
  • Income from continuing operations was $1.841 billion for the third quarter of 2026, up from $706 million in the third quarter of 2025, as reported.
  • Nine-month net sales totaled $19.862 billion for the period ended September 30, 2026, versus $16.481 billion for the same period in 2025.
  • Total assets stood at $79.804 billion as of September 30, 2026, compared to $84.186 billion as of December 31, 2025, the filing disclosed.
  • Long-term debt, net, declined to $11.625 billion at September 30, 2026 from $20.623 billion at December 31, 2025, according to the balance sheet.
  • OxyChem Transaction closed January 2, 2026, described in the filing as "the sale of all of the issued and outstanding equity interests in OxyChem to Berkshire Hathaway pursuant to a purchase and sale agreement dated October 1, 2025."
  • Common shares outstanding were 999,894,745 as of October 31, 2026, as stated on the cover page.

Occidental Petroleum's Third-Quarter 2026 Financial Results and Balance Sheet Position

Occidental Petroleum Corporation (NYSE:OXY) reported net sales of $6.567 billion for the three months ended September 30, 2026, rising from $5.519 billion in the year-earlier quarter, according to the quarterly filing. Income before income taxes for the quarter was $2.395 billion, compared to $985 million in the third quarter of 2025. Income tax expense was $554 million for the quarter, leaving income from continuing operations at $1.841 billion.

For the nine months ended September 30, 2026, the company disclosed net sales of $19.862 billion and income from continuing operations of $5.077 billion, against $16.481 billion in net sales and $1.874 billion in income from continuing operations for the comparable 2025 period. Interest and debt expense, net, fell to $618 million for the nine-month period from $847 million in the prior-year period, reflecting, in part, the significant reduction in long-term debt noted on the balance sheet. Depreciation, depletion and amortization was $5.424 billion for the nine months ended September 30, 2026, compared to $5.574 billion in the same period of 2025.

The consolidated balance sheet as of September 30, 2026 showed total assets of $79.804 billion and total stockholders' equity of $43.165 billion, up from $36.034 billion at December 31, 2025. Cash and cash equivalents increased to $3.884 billion from $1.968 billion at year-end 2025. The filing noted that assets and liabilities previously classified as held for sale at December 31, 2025 were no longer on the balance sheet at September 30, 2026, consistent with the January 2, 2026 close of the OxyChem Transaction with Berkshire Hathaway. Retained earnings rose to $28.704 billion from $21.891 billion at December 31, 2025.

What Was Disclosed

Occidental Petroleum filed its unaudited quarterly financial statements and management discussion for the period ended September 30, 2026, covering results of operations, balance sheet changes, and the completed sale of OxyChem to Berkshire Hathaway, which closed January 2, 2026.