US Oxy reports weaker earnings in Q1
by ChemOrbis Editorial Team - content@chemorbis.com
US Occidental Petroleum (Oxy) reported adjusted earnings of $766 million, compared to $718 million in the same period last year.
The company’s chemical subsidiary, OxyChem, posted a net income of $141 million in Q1 2025, down from $206 million in Q4 2024 and $196 million in Q1 2024. Sales for the quarter totaled $1.188 billion, down 2% from the previous quarter and flat year-over-year.
The company attributed the earnings decline to lower prices for caustic soda and polyvinyl chloride (PVC), as well as higher costs for ethylene and natural gas.
Despite the drop, Oxy CFO Sunil Mathew said the chemical business had a solid start to the year, overcoming short-term issues in Q1. He expects moderate domestic demand growth for caustic soda and PVC in the next two quarters, with potential improvement from reduced domestic capacity in the second half of 2025.
The company’s chemical subsidiary, OxyChem, posted a net income of $141 million in Q1 2025, down from $206 million in Q4 2024 and $196 million in Q1 2024. Sales for the quarter totaled $1.188 billion, down 2% from the previous quarter and flat year-over-year.
The company attributed the earnings decline to lower prices for caustic soda and polyvinyl chloride (PVC), as well as higher costs for ethylene and natural gas.
Despite the drop, Oxy CFO Sunil Mathew said the chemical business had a solid start to the year, overcoming short-term issues in Q1. He expects moderate domestic demand growth for caustic soda and PVC in the next two quarters, with potential improvement from reduced domestic capacity in the second half of 2025.
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