Earnings release
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● ● ● ● NEWS RELEASE Occidental Announces 2nd Quarter 2021 Results OXY Occidental Cash flow from continuing operations of $ 3.3 billion and cash flow from continuing operations before working capital of $ 2.7 billion Maintained capital discipline with spending of $ 698 million , resulting in free cash flow excluding working capital of $ 2.0 billion Executed debt tender offer and repaid over $ 3.0 billion of long - term debt in July Advanced divestiture progress with Permian Basin non - strategic acreage sale Exceeded production guidance midpoint by 48 Mboed , with production of 1,203 Mboed from continuing operations Exceeded pre - tax income guidance for both OxyChem and midstream and marketing segments OxyChem on track for record earnings with total year pre - tax guidance of $ 1.25 billion HOUSTON - August 3 , 2021 — Occidental ( NYSE : OXY ) today announced a net loss attributable to common stockholders for the second quarter of 2021 of $ 97 million , or $ 0.10 per diluted share , and adjusted income attributable to common stockholders of $ 311 million , or $ 0.32 per diluted share , compared to a net loss attributable to common stockholders for the prior quarter of $ 346 million , or $ 0.36 per diluted share , and an adjusted loss attributable to common stockholders of $ 136 million , or $ 0.15 per diluted share . Second quarter after - tax items affecting comparability of $ 389 million included $ 426 million of net derivative mark - to - market losses , partially offset by a state tax rate revaluation of $ 55 million . " Our strong second quarter operational performance continued to drive robust financial performance , resulting in our highest level of free cash flow in over a decade for the second consecutive quarter , " said President and Chief Executive Officer Vicki Hollub . " The successful execution of the tender offer is part of our ongoing commitment to reduce debt and improve our balance sheet . The excess cash we have available to apply to early debt retirement is a direct result of the progress we continue to