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![Occidental Petroleum Corp [OXY-WT] reports annual net loss of $4.7 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FOXY-WT.png&w=1200&q=75)
OCCIDENTAL PETROLEUM CORP /DE/ [OXY-WT] has reported a net loss of $4.7 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $28.3 billion
Based in HOUSTON, Texas, OCCIDENTAL PETROLEUM CORP /DE/ operates in the MINING sector.
In the latest annual report for the fiscal year ending December 31, 2023, the company reported a decrease in net sales compared to the previous year. The net sales for the current period were $28.257 million, down from $36.634 million in the prior year.
The cost of goods sold and operating expenses for the year also decreased from the previous year. Total costs and deductions amounted to $23.023 million in the current year, lower than the $24.088 million reported in the prior year.
Despite the decrease in revenue and expenses, the net income for the company showed a significant increase. The net income for the current period was $4.696 million, a notable increase from $13.304 million in the previous year.
In terms of earnings per share, both basic and diluted earnings showed an increase from the previous year. The basic earnings per share for income from continuing operations were $4.22 for the current period, up from $13.41 in the previous year. The diluted earnings per share also showed an increase, with a figure of $3.90 compared to $12.40 in the prior year.
Overall, the company reported a mixed performance in terms of revenue and expenses but managed to achieve significant growth in net income and earnings per share compared to the previous year.