Occidental Petroleum Corporation stock research
FY2023 Q2
Occidental Petroleum (OXY) Gross Margin — Quarter Ended Jun 30, 2023
Revenue decreased compared to the prior quarter and the same quarter last year. Gross margin weakened as cost of revenue declined less than revenue.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue decreased compared to the prior quarter and the same quarter last year. Gross margin weakened as cost of revenue declined less than revenue.
- The change in gross margin was primarily driven by the relationship between revenue and cost of revenue, with revenue decreasing while cost of revenue remained relatively stable.
- Compared to the prior quarter, gross margin was lower, and it was also lower than the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
88.0%
Gross profit
$5.8B
Revenue
$6.6B
Cost of revenue
$791.0M
Quarter-over-quarter change
-1.5 pts
Year-over-year change
-3.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $7.1B | $6.4B | $745.0M | 89.5% |
| Jun 30, 2023 | $6.6B | $5.8B | $791.0M | 88.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
-1.5 pts
Year-over-year change
Jun 30, 2022
-3.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The change in gross margin was primarily driven by the relationship between revenue and cost of revenue, with revenue decreasing while cost of revenue remained relatively stable.
Compared to the prior quarter, gross margin was lower, and it was also lower than the same quarter one year earlier.
Monitor the trend in cost of revenue relative to revenue in upcoming periods.