Occidental Petroleum Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - Occidental Petroleum Corp. (OXY) released a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $1.03 billion, or $1.08 per share. This compares with $1.73 billion, or $1.74 per share, in last year's fourth quarter.

Excluding items, Occidental Petroleum Corp. reported adjusted earnings of $0.71 billion or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.4% to $7.53 billion from $8.22 billion last year.

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

-Earnings (Q4): $1.03 Bln. vs. $1.73 Bln. last year. -EPS (Q4): $1.08 vs. $1.74 last year. -Analyst Estimates: $0.71 -Revenue (Q4): $7.53 Bln vs. $8.22 Bln last year.