For the quarter ended June 2023, APA (APA - Free Report) reported revenue of $1.96 billion, down 35.6% over the same period last year. EPS came in at $0.85, compared to $2.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.82 billion, representing a surprise of +7.64%. The company delivered an EPS surprise of +28.79%, with the consensus EPS estimate being $0.66.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how APA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production volume per day - NGL - Total: 62.63 KBBL/D compared to the 66.26 KBBL/D average estimate based on 14 analysts.
- Production volume per day - Natural gas - Total: 824.81 MMcf/D versus the 14-analyst average estimate of 847.77 MMcf/D.
- Production volume per day - Total: 398.93 KBOE/D versus the eight-analyst average estimate of 400.03 KBOE/D.
- Production volume per day - Oil - Total: 198.83 KBBL/D compared to the 193.31 KBBL/D average estimate based on seven analysts.
- Average price - Natural gas - Total: $2.39 versus $2.58 estimated by five analysts on average.
- Average price per barrel - NGL - United States: $18.26 versus $21.88 estimated by four analysts on average.
- Average price - Natural gas - United States: $1.24 versus $1.78 estimated by four analysts on average.
- Average price per barrel - Oil - United States: $73.99 versus the four-analyst average estimate of $80.25.
- Average price per barrel - NGL - Total: $18.69 versus the four-analyst average estimate of $21.55.
- Revenues- Natural gas: $180 million versus $205.34 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -58.4% change.
- Revenues- Oil: $1.37 billion versus the three-analyst average estimate of $1.40 billion. The reported number represents a year-over-year change of -26.7%.
- Revenues- Natural gas liquids: $107 million compared to the $126.65 million average estimate based on three analysts. The reported number represents a change of -53.3% year over year.
View all Key Company Metrics for APA here>>>Shares of APA have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended June 2023, APA (APA - Free Report) reported revenue of $1.96 billion, down 35.6% over the same period last year. EPS came in at $0.85, compared to $2.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.82 billion, representing a surprise of +7.64%. The company delivered an EPS surprise of +28.79%, with the consensus EPS estimate being $0.66.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how APA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production volume per day - NGL - Total: 62.63 KBBL/D compared to the 66.26 KBBL/D average estimate based on 14 analysts.
- Production volume per day - Natural gas - Total: 824.81 MMcf/D versus the 14-analyst average estimate of 847.77 MMcf/D.
- Production volume per day - Total: 398.93 KBOE/D versus the eight-analyst average estimate of 400.03 KBOE/D.
- Production volume per day - Oil - Total: 198.83 KBBL/D compared to the 193.31 KBBL/D average estimate based on seven analysts.
- Average price - Natural gas - Total: $2.39 versus $2.58 estimated by five analysts on average.
- Average price per barrel - NGL - United States: $18.26 versus $21.88 estimated by four analysts on average.
- Average price - Natural gas - United States: $1.24 versus $1.78 estimated by four analysts on average.
- Average price per barrel - Oil - United States: $73.99 versus the four-analyst average estimate of $80.25.
- Average price per barrel - NGL - Total: $18.69 versus the four-analyst average estimate of $21.55.
- Revenues- Natural gas: $180 million versus $205.34 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -58.4% change.
- Revenues- Oil: $1.37 billion versus the three-analyst average estimate of $1.40 billion. The reported number represents a year-over-year change of -26.7%.
- Revenues- Natural gas liquids: $107 million compared to the $126.65 million average estimate based on three analysts. The reported number represents a change of -53.3% year over year.
View all Key Company Metrics for APA here>>>Shares of APA have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on APA - FREE