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APA (APA) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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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.
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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APA (APA) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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.