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APA (APA) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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APA (APA - Free Report) reported $1.89 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 20.5%. EPS of $1.15 for the same period compares to $1.48 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.05 billion, representing a surprise of -7.49%. The company delivered an EPS surprise of -16.67%, with the consensus EPS estimate being $1.38.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - Total: 414.43 KBOE/D versus the eight-analyst average estimate of 406.62 KBOE/D.
Production volume per day - Natural gas - Total: 830.37 millions of cubic feet versus 796.14 millions of cubic feet estimated by seven analysts on average.
Production volume per day - Oil - Total: 207.02 thousands of barrels of oil compared to the 206.69 thousands of barrels of oil average estimate based on six analysts.
Production volume per day - NGL - Total: 69.01 thousands of barrels of oil versus 66.53 thousands of barrels of oil estimated by six analysts on average.
Average price per barrel - NGL - Total: $20.70 compared to the $20.89 average estimate based on five analysts.
Average price - Natural gas - Total: $2.92 versus the five-analyst average estimate of $2.92.
Average price per barrel - Oil - Total: $81.36 versus $80.78 estimated by five analysts on average.
Average price per barrel - NGL - United States: $19.82 versus $20.42 estimated by four analysts on average.
Oil, natural gas, and natural gas liquids production revenues: $1.89 billion compared to the $1.85 billion average estimate based on three analysts.
Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues: $133 million compared to the $126.67 million average estimate based on three analysts.
Oil, natural gas, and natural gas liquids production revenues- Gas revenues: $222 million versus $228.51 million estimated by three analysts on average.
Oil, natural gas, and natural gas liquids production revenues- Oil revenues: $1.53 billion versus the three-analyst average estimate of $1.45 billion.
Shares of APA have returned +0.4% 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) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
APA (APA - Free Report) reported $1.89 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 20.5%. EPS of $1.15 for the same period compares to $1.48 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.05 billion, representing a surprise of -7.49%. The company delivered an EPS surprise of -16.67%, with the consensus EPS estimate being $1.38.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - Total: 414.43 KBOE/D versus the eight-analyst average estimate of 406.62 KBOE/D.
- Production volume per day - Natural gas - Total: 830.37 millions of cubic feet versus 796.14 millions of cubic feet estimated by seven analysts on average.
- Production volume per day - Oil - Total: 207.02 thousands of barrels of oil compared to the 206.69 thousands of barrels of oil average estimate based on six analysts.
- Production volume per day - NGL - Total: 69.01 thousands of barrels of oil versus 66.53 thousands of barrels of oil estimated by six analysts on average.
- Average price per barrel - NGL - Total: $20.70 compared to the $20.89 average estimate based on five analysts.
- Average price - Natural gas - Total: $2.92 versus the five-analyst average estimate of $2.92.
- Average price per barrel - Oil - Total: $81.36 versus $80.78 estimated by five analysts on average.
- Average price per barrel - NGL - United States: $19.82 versus $20.42 estimated by four analysts on average.
- Oil, natural gas, and natural gas liquids production revenues: $1.89 billion compared to the $1.85 billion average estimate based on three analysts.
- Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues: $133 million compared to the $126.67 million average estimate based on three analysts.
- Oil, natural gas, and natural gas liquids production revenues- Gas revenues: $222 million versus $228.51 million estimated by three analysts on average.
- Oil, natural gas, and natural gas liquids production revenues- Oil revenues: $1.53 billion versus the three-analyst average estimate of $1.45 billion.
View all Key Company Metrics for APA here>>>Shares of APA have returned +0.4% 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.