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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 6.82B | 14.1% |
| Gross Profit | 5.72B | 15.3% |
| Cost of Revenue | 1.09B | 8% |
| Operating expense | 672M | 10.2% |
| Net Income | 1.16B | 30.9% |
| EBITDA | 3.43B | 14.3% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 76.2B | 2.6% |
| Total Liabilities | 44.2B | 1.6% |
| Total Equity | 32.1B | 4% |
| Shares Outstanding | 906M | 2.1% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 2.39B | 19.3% |
| Cash from investing | -1.87B | 3.4% |
| Cash from financing | 39M | 111.9% |
EPS
Financial Highlights for Occidental Petroleum in Q2 '24
Occidental Petroleum reported a revenue of 6.82B, which is a 14.1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 5.72B, marking a 15.3% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.09B, a 8% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 672M, showing a -10.2% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 1.16B, showing a 30.9% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 3.43B, showing a 14.3% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Occidental Petroleum with growth in revenue, gross profit, and net income.
