LOS ANGELES (dpa-AFX) - Occidental Petroleum Corp. (OXY) reported an improvement in its first-quarter net income to $1.56 billion or $1.92 per share from $1.55 billion or $1.90 per share last year. Core income amounted to $1.56 billion or $1.92 per share versus $1.59 billion or $1.96 per share a year ago. On average, 20 analysts polled by Thomson Reuters expected earnings per share of $1.92 for the quarter. Analysts' estimates typically exclude one-time items.
Net sales were $6.27 billion, higher than $5.73 billion in the comparable period. Analysts estimated revenues of $6.13 billion for the quarter.
The company noted, 'Our first quarter total company production of 755,000 barrels of oil equivalent per day was the highest in Occidental's history and our domestic production of 455,000 barrels of oil equivalent per day was a record for the sixth consecutive quarter. '
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