Occidental Petroleum Corp. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Occidental Petroleum Corp. (OXY) reported earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $964 million, or $0.98 per share. This compares with $1.16 billion, or $1.20 per share, in last year's third quarter.

Excluding items, Occidental Petroleum Corp. reported adjusted earnings of $977 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.2% to $7.173 billion from $7.158 billion last year.

Occidental Petroleum Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $964 Mln. vs. $1.16 Bln. last year. -EPS (Q3): $0.98 vs. $1.20 last year. -Revenue (Q3): $7.173 Bln vs. $7.158 Bln last year.