Occidental Petroleum Corporation stock research
FY2023 Q4
Occidental Petroleum (OXY) Gross Margin — Quarter Ended Dec 31, 2023
In the current quarter, revenue and gross profit decreased while cost of revenue increased, resulting in a lower gross margin compared to both the prior quarter and the same quarter last year.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
In the current quarter, revenue and gross profit decreased while cost of revenue increased, resulting in a lower gross margin compared to both the prior quarter and the same quarter last year.
- The most notable driver of the margin change was the increase in cost of revenue, which rose while revenue fell, causing gross profit to decline more sharply.
- Compared to the prior quarter, revenue and gross profit were lower, cost of revenue was higher, and gross margin weakened. The year-ago quarter shows a similar pattern.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.0%
Gross profit
$1.3B
Revenue
$2.2B
Cost of revenue
$898.0M
Quarter-over-quarter change
-30.7 pts
Year-over-year change
-30.6 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% |
| Sep 30, 2023 | $7.3B | $6.6B | $682.0M | 90.6% |
| Dec 31, 2023 | $2.2B | $1.3B | $898.0M | 60.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-30.7 pts
Year-over-year change
Dec 31, 2022
-30.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable driver of the margin change was the increase in cost of revenue, which rose while revenue fell, causing gross profit to decline more sharply.
Compared to the prior quarter, revenue and gross profit were lower, cost of revenue was higher, and gross margin weakened. The year-ago quarter shows a similar pattern.
Monitor the trajectory of cost of revenue relative to revenue in upcoming periods.