S&P 500 (NYSE:SPY) component Occidental Petroleum (NYSE:OXY) will unveil its latest earnings on Thursday, July 26, 2012. Occidental Petroleum is an international organization with subsidiaries operating in the oil and gas, chemical, and midstream markets.
Occidental Petroleum Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of $1.66 per share, a decline of 25.6% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $2.11. Between one and three months ago, the average estimate moved down. It also has dropped from $1.91 during the last month. Analysts are projecting profit to rise by 14.8% versus last year to $7.15.
Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported profit of $1.92 per share versus a mean estimate of net income of $1.93 per share. In the fourth quarter of the last fiscal year, the company beat estimates by 6 cents.
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Stock Price Performance: From June 21, 2012 to July 20, 2012, the stock price rose $7.93 (10%), from $79.27 to $87.20. The stock price saw one of its best stretches over the last year between July 12, 2012 and July 20, 2012, when shares rose for seven straight days, increasing 3.9% (+$3.26) over that span. It saw one of its worst periods between July 21, 2011 and August 8, 2011 when shares fell for 13 straight days, dropping 26.3% (-$28.45) over that span.
Wall St. Revenue Expectations: Analysts predict a decline of 5.2% in revenue from the year-earlier quarter to $5.85 billion.
Analyst Ratings: With 11 analysts rating the stock a buy, none rating it a sell and five rating the stock a hold, there are indications of a bullish stance by analysts.
This upcoming earnings announcement will be a chance to build on positive earnings momentum over the last three quarters. Net income rose 48.7% in the third quarter of the last fiscal year and 34.8% in the fourth quarter of the last fiscal year before increasing again in the first quarter.
On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 29.7% in the second quarter of the last fiscal year, 22.7% in the third quarter of the last fiscal year and 31% in the fourth quarter of the last fiscal year before increasing again in the first quarter.
A Look Back: In the first quarter, profit rose 0.6% to $1.56 billion ($1.92 a share) from $1.55 billion ($1.90 a share) the year earlier, but fell short analyst expectations. Revenue rose 9.5% to $6.27 billion from $5.73 billion.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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