We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Anadarko Petroleum (APC) Beats Earnings Estimates in Q2
Read MoreHide Full Article
Anadarko Petroleum Corporation’s generated second-quarter 2019 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 46 cents by 10.87%. The bottom lime declined 5.5% from the year-ago quarter's figure of 54 cents.
On a GAAP basis, the company incurred a loss of $2.09 in the quarter compared with earnings of 5 cents in the year ago quarter,
Total Revenues
In the reported quarter, Anadarko Petroleum’s revenues amounted to $3,442 million that surpassed the Zacks Consensus Estimate of $3,205 million by 7.39%. Also, the top line increased 4.6% year over year. The upside was primarily driven by higher oil, natural gas as well as gathering, processing and marketing sales.
Anadarko Petroleum Corporation Price, Consensus and EPS Surprise
In the quarter, the company’s average daily sales volume was 744,000 barrels of oil equivalent per day (BOE/d), up 16.8% year over year. U.S. Onshore assets generated sales volumes of 484,000 BOE/d, up 16% from the prior-year quarter’s figure.
The company’s total costs and expenses in the second quarter increased 47.9% year over year to $3,657 million, primarily on higher Oil and gas operating,Oil and gas transportation,Gathering, processing and marketing expenses as well as Depreciation, depletion, and amortization expenses. Moreover, the company also incurred additional expenses related to merger transaction costs.
Interest expenses totaled $249 million, up from $237 million in the prior-year quarter.
Financial Condition
The company had cash and cash equivalents of $1,394 million as of Jun 30, 2019, up from $1,295 million as of Dec 31, 2018.
Long-term debt as of Jun 30 was $18,198 million, up from $15,470 million as of Dec 31, 2018.
The company’s net cash flow from operating activities was $776 million compared with $1,225 million in the prior-year quarter.
Zacks Rank
Anadarko Petroleum currently has a Zacks Rank #4 (Sell).
TOTAL S.A. reported second-quarter 2019 operating earnings of $1.05 per share (€0.94 per share), which lagged the Zacks Consensus Estimate of $1.23 by 14.6%.
Covanta Holding Corporation incurred second-quarter 2019 loss of 16 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 9 cents.
NextEra Energy Partners, LP (NEP - Free Report) incurred second-quarter 2019 loss of 49 cents per unit against the Zacks Consensus Estimate of earnings of 48 cents.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits. See the 7 breakthrough stocks now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Anadarko Petroleum (APC) Beats Earnings Estimates in Q2
Anadarko Petroleum Corporation’s generated second-quarter 2019 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 46 cents by 10.87%. The bottom lime declined 5.5% from the year-ago quarter's figure of 54 cents.
On a GAAP basis, the company incurred a loss of $2.09 in the quarter compared with earnings of 5 cents in the year ago quarter,
Total Revenues
In the reported quarter, Anadarko Petroleum’s revenues amounted to $3,442 million that surpassed the Zacks Consensus Estimate of $3,205 million by 7.39%. Also, the top line increased 4.6% year over year. The upside was primarily driven by higher oil, natural gas as well as gathering, processing and marketing sales.
Anadarko Petroleum Corporation Price, Consensus and EPS Surprise
Anadarko Petroleum Corporation price-consensus-eps-surprise-chart | Anadarko Petroleum Corporation Quote
Operational Highlights
In the quarter, the company’s average daily sales volume was 744,000 barrels of oil equivalent per day (BOE/d), up 16.8% year over year. U.S. Onshore assets generated sales volumes of 484,000 BOE/d, up 16% from the prior-year quarter’s figure.
The company’s total costs and expenses in the second quarter increased 47.9% year over year to $3,657 million, primarily on higher Oil and gas operating,Oil and gas transportation,Gathering, processing and marketing expenses as well as Depreciation, depletion, and amortization expenses. Moreover, the company also incurred additional expenses related to merger transaction costs.
Interest expenses totaled $249 million, up from $237 million in the prior-year quarter.
Financial Condition
The company had cash and cash equivalents of $1,394 million as of Jun 30, 2019, up from $1,295 million as of Dec 31, 2018.
Long-term debt as of Jun 30 was $18,198 million, up from $15,470 million as of Dec 31, 2018.
The company’s net cash flow from operating activities was $776 million compared with $1,225 million in the prior-year quarter.
Zacks Rank
Anadarko Petroleum currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oils-Energy Releases
TOTAL S.A. reported second-quarter 2019 operating earnings of $1.05 per share (€0.94 per share), which lagged the Zacks Consensus Estimate of $1.23 by 14.6%.
Covanta Holding Corporation incurred second-quarter 2019 loss of 16 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 9 cents.
NextEra Energy Partners, LP (NEP - Free Report) incurred second-quarter 2019 loss of 49 cents per unit against the Zacks Consensus Estimate of earnings of 48 cents.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>