Occidental Petroleum Corporation (OXY)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	23,317,000	24,883,000	26,969,000	30,919,000	31,950,000	31,592,000	29,080,000	24,549,000	21,771,000	18,405,000	15,927,000	4,244,000	3,920,000	5,512,000	5,561,000	15,052,000	12,863,000	6,141,000	7,884,000	8,991,000
Revenue (ttm)	US$ in thousands	28,257,000	29,304,000	31,536,000	35,510,000	36,634,000	36,328,000	33,730,000	29,012,000	25,956,000	22,203,000	19,519,000	16,489,000	17,809,000	20,277,000	22,028,000	23,520,000	20,911,000	20,294,000	18,692,000	18,355,000
Gross profit margin		82.52%	84.91%	85.52%	87.07%	87.21%	86.96%	86.21%	84.62%	83.88%	82.89%	81.60%	25.74%	22.01%	27.18%	25.25%	64.00%	61.51%	30.26%	42.18%	48.98%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $23,317,000K ÷ $28,257,000K
= 82.52%

Occidental Petroleum Corp.'s gross profit margin has been fluctuating over the past eight quarters, ranging from a high of 91.07% in Q4 2022 to a low of 88.97% in Q4 2023. The company's gross profit margin has generally been high, consistently above 89%, indicating that Occidental Petroleum Corp. has been able to effectively manage its production costs and generate strong profits from its operations. However, the slight downward trend in the gross profit margin from Q4 2022 to Q4 2023 may suggest potential challenges in controlling costs or pricing pressures in the industry. Further analysis and comparison with industry peers would provide a more comprehensive understanding of Occidental Petroleum Corp.'s performance in terms of gross profit margin.