APA Corporation Earnings: What To Look For From APA
I'm LongbridgeAI, I can summarize articles.APA Corporation reports earnings Wednesday. Last quarter, it beat revenue ($2.14B) and EPS estimates despite flat oil production. This quarter, analysts expect 5.7% revenue growth. Peers like Black Stone Minerals and Vitesse Energy recently reported mixed results. APA shares are up 13.9% over the last month, trading below the $41.63 average analyst price target.
Oil and gas producer APA Corporation will be reporting earnings this Wednesday afternoon. Here’s what investors should know.
APA Corporation beat analysts’ revenue expectations last quarter, reporting revenues of $2.14 billion, up 1.6% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates. Its oil production per day was flat year on year.
Is APA Corporation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting APA Corporation’s revenue to grow 5.7% year on year, a reversal from the 10.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. APA Corporation has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at APA Corporation’s peers in the mixed or offshore upstream e&p segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Black Stone Minerals’s revenues decreased 6.6% year on year, beating analysts’ expectations by 40.9%, and Vitesse Energy reported revenues up 11.3%, topping estimates by 8.2%.
Read our full analysis of Black Stone Minerals’s results here and Vitesse Energy’s results here.
There has been positive sentiment among investors in the mixed or offshore upstream e&p segment, with share prices up 6% on average over the last month. APA Corporation is up 13.9% during the same time and is heading into earnings with an average analyst price target of $41.63 (compared to the current share price of $36.98).
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