(Oxy, 7.Nov.2023) — Occidental (NYSE: OXY) today announced net income attributable to common stockholders for the third quarter of 2023 of $1.2bn, or $1.20 per diluted share, and adjusted income attributable to common stockholders of $1.1bn, or $1.18 per diluted share.
“Our teams continued their outstanding performance across all three of our business segments resulting in our strongest earnings and cash flow from operations to date this year,” said President and Chief Executive Officer Vicki Hollub. “We have now completed approximately 60% of our $3bn share repurchase program and retired over 15% of the preferred equity, all while advancing our low carbon initiatives both domestically and internationally.”
Third quarter after-tax items affecting comparability of $22mn were primarily comprised of after-tax gains on sales of $111mn related to certain non-core proved and unproved properties in the Permian Basin and $40mn for the sale of 5.1mn Western Midstream Partners, LP (WES) limited partner units, partially offset by derivative losses in marketing of $63mn, preferred stock redemption premiums of $42mn and other equity method investment charges of $27mn.
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