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APA Gears Up to Report Q3 Earnings: Here's How It Will Fare
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Key Takeaways
APA's Q3 2026 earnings are estimated at $1.36 per share on revenues of $2.37 billion.
APA's estimated realized oil prices reached $87.50 per barrel in the U.S. and $98.50 internationally.
Rising lease operating expenses and exploration costs could offset benefits from higher oil prices.
APA Corporation (APA - Free Report) is set to release third-quarter 2026 results on Nov. 4. The bottom-line estimate for the to-be-reported quarter is pegged at $1.36 on revenues of $2.37 billion.
Let us delve into the factors that might have influenced this upstream operator’s results in the quarter to be reported. Before diving in, it is important to consider how APA performed in the last quarter.
Highlights of APA’s Q2 Earnings & Surprise History
In the last reported quarter, the independent oil and gas explorer posted adjusted earnings per share (EPS) of $1.89, which beat the Zacks Consensus Estimate of 87 cents, driven by higher realized oil prices and lower year-over-year expenses. However, revenues of $2.4 billion missed the Zacks Consensus Estimate by 1.5%, due to a decline in natural gas revenues.
The company’s earnings have surpassed the Zacks Consensus Estimate in each of the past four quarters, resulting in an average surprise of 27.81%.
The Zacks Consensus Estimate for third-quarter 2026 earnings reflects one upward and one downward estimate revision over the past seven days. The earnings estimate indicates a 46.24% increase year over year. The Zacks Consensus Estimate for revenues implies 17.60% year-over-year growth.
Factors to Consider Ahead of APA’s Q3 Release
APA is an independent energy company engaged in oil and natural gas exploration and production. It operates in the United States, Egypt and the North Sea, with additional exploration activities in Suriname. The company generates revenues by producing and selling crude oil, natural gas and natural gas liquids. Its financial results depend on production volumes and market prices for oil and natural gas.
APA’s revenues are likely to have increased in the quarter to be reported. The Zacks Consensus Estimate for third-quarter revenues is expected to be higher than the year-ago figure of $2.02 billion. Higher crude oil prices amid geopolitical tensions and supply disruptions might have supported the company’s revenues. According to APA’s third-quarter supplemental information, the estimated average realized oil prices were $87.50 per barrel in the United States and $98.50 internationally. The company’s realized prices and sales volumes are expected to have been important factors in determining its revenue growth.
Higher operating expenses might have weighed on APA’s to-be-reported bottom line. As per our model, lease operating expenses are expected to increase 10.5% year over year to $415.4 million, while exploration costs are expected to rise 48.1% to $32.6 million. Additionally, according to APA’s third-quarter supplemental information, it incurred approximately $115 million in general and administrative expenses, including $56 million in stock-based compensation. These expenses might have limited the benefit of higher oil prices.
What Does Our Model Say About APA?
Our proven model does not predict an earnings beat for APA this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that is not the case here.
Earnings ESP of APA: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -1.95%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
APA’s Zacks Rank: APA Corp currently carries a Zacks Rank #2.
Stocks With the Favorable Combination
Here are a few firms from other sectors that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Gray Media owns and operates local television stations and digital media platforms. The company benefits from its extensive broadcasting network and opportunities to expand the digital advertising business. Gray Media commands a market capitalization of approximately $442.83 million.
Elanco Animal Health (ELAN - Free Report) has an Earnings ESP of +3.70% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 6, 2026.
With opportunities to drive growth through product innovation and increasing demand for animal health solutions, Elanco develops and markets medicines, vaccines and other health products for pets and livestock. Elanco Animal Health carries a market capitalization of around $11.32 billion.
Vistra (VST - Free Report) has an Earnings ESP of +8.20% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 6, 2026.
Vistra operates an integrated power generation and electricity retail business. The company has a diverse energy portfolio that positions it to capitalize on rising electricity demand and growing energy storage needs. Vistra boasts a market capitalization of roughly $49.22 billion.
View the Zacks #1 Rank List
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APA Gears Up to Report Q3 Earnings: Here's How It Will Fare
Key Takeaways
APA Corporation (APA - Free Report) is set to release third-quarter 2026 results on Nov. 4. The bottom-line estimate for the to-be-reported quarter is pegged at $1.36 on revenues of $2.37 billion.
Let us delve into the factors that might have influenced this upstream operator’s results in the quarter to be reported. Before diving in, it is important to consider how APA performed in the last quarter.
Highlights of APA’s Q2 Earnings & Surprise History
In the last reported quarter, the independent oil and gas explorer posted adjusted earnings per share (EPS) of $1.89, which beat the Zacks Consensus Estimate of 87 cents, driven by higher realized oil prices and lower year-over-year expenses. However, revenues of $2.4 billion missed the Zacks Consensus Estimate by 1.5%, due to a decline in natural gas revenues.
The company’s earnings have surpassed the Zacks Consensus Estimate in each of the past four quarters, resulting in an average surprise of 27.81%.
This is depicted in the graph below:
APA Corporation Price and EPS Surprise
APA Corporation price-eps-surprise | APA Corporation Quote
APA’s Trend in Estimate Revision
The Zacks Consensus Estimate for third-quarter 2026 earnings reflects one upward and one downward estimate revision over the past seven days. The earnings estimate indicates a 46.24% increase year over year. The Zacks Consensus Estimate for revenues implies 17.60% year-over-year growth.
Factors to Consider Ahead of APA’s Q3 Release
APA is an independent energy company engaged in oil and natural gas exploration and production. It operates in the United States, Egypt and the North Sea, with additional exploration activities in Suriname. The company generates revenues by producing and selling crude oil, natural gas and natural gas liquids. Its financial results depend on production volumes and market prices for oil and natural gas.
APA’s revenues are likely to have increased in the quarter to be reported. The Zacks Consensus Estimate for third-quarter revenues is expected to be higher than the year-ago figure of $2.02 billion. Higher crude oil prices amid geopolitical tensions and supply disruptions might have supported the company’s revenues. According to APA’s third-quarter supplemental information, the estimated average realized oil prices were $87.50 per barrel in the United States and $98.50 internationally. The company’s realized prices and sales volumes are expected to have been important factors in determining its revenue growth.
Higher operating expenses might have weighed on APA’s to-be-reported bottom line. As per our model, lease operating expenses are expected to increase 10.5% year over year to $415.4 million, while exploration costs are expected to rise 48.1% to $32.6 million. Additionally, according to APA’s third-quarter supplemental information, it incurred approximately $115 million in general and administrative expenses, including $56 million in stock-based compensation. These expenses might have limited the benefit of higher oil prices.
What Does Our Model Say About APA?
Our proven model does not predict an earnings beat for APA this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that is not the case here.
Earnings ESP of APA: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -1.95%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
APA’s Zacks Rank: APA Corp currently carries a Zacks Rank #2.
Stocks With the Favorable Combination
Here are a few firms from other sectors that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Gray Media Inc. (GTN - Free Report) has an Earnings ESP of +4.19% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 6, 2026. You can see the complete list of today’s Zacks #1 Rank stocks here.
Gray Media owns and operates local television stations and digital media platforms. The company benefits from its extensive broadcasting network and opportunities to expand the digital advertising business. Gray Media commands a market capitalization of approximately $442.83 million.
Elanco Animal Health (ELAN - Free Report) has an Earnings ESP of +3.70% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 6, 2026.
With opportunities to drive growth through product innovation and increasing demand for animal health solutions, Elanco develops and markets medicines, vaccines and other health products for pets and livestock. Elanco Animal Health carries a market capitalization of around $11.32 billion.
Vistra (VST - Free Report) has an Earnings ESP of +8.20% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 6, 2026.
Vistra operates an integrated power generation and electricity retail business. The company has a diverse energy portfolio that positions it to capitalize on rising electricity demand and growing energy storage needs. Vistra boasts a market capitalization of roughly $49.22 billion.