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APA (APA) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, APA (APA - Free Report) reported revenue of $2.31 billion, down 19.6% over the same period last year. EPS came in at $1.33, compared to $1.97 in the year-ago quarter.
The reported revenue represents a surprise of +15.74% over the Zacks Consensus Estimate of $1.99 billion. With the consensus EPS estimate being $1.08, the EPS surprise was +23.15%.
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 - Natural gas - Total: 820.14 millions of cubic feet versus 833.72 millions of cubic feet estimated by 14 analysts on average.
Production volume per day - NGL - Total: 67.78 thousands of barrels of oil compared to the 64.85 thousands of barrels of oil average estimate based on 12 analysts.
Production volume per day - Total: 412.25 KBOE/D compared to the 410.9 KBOE/D average estimate based on eight analysts.
Production volume per day - Oil - Total: 207.79 thousands of barrels of oil versus 206.21 thousands of barrels of oil estimated by six analysts on average.
Average price - Natural gas - Total: $3.12 versus $2.87 estimated by six analysts on average.
Average price per barrel - Oil - Total: $86.15 compared to the $85.13 average estimate based on five analysts.
Average price per barrel - NGL - Total: $22.26 compared to the $22.30 average estimate based on five analysts.
Average price per barrel - NGL - United States: $21.87 versus $21.50 estimated by four analysts on average.
Average price - Natural gas - North Sea: $10.98 versus $10.47 estimated by four analysts on average.
Revenues- Natural gas: $236 million compared to the $222.68 million average estimate based on four analysts. The reported number represents a change of -44.9% year over year.
Revenues- Oil: $1.71 billion compared to the $1.61 billion average estimate based on three analysts. The reported number represents a change of +2% year over year.
Revenues- Natural gas liquids: $138 million versus $132.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -31.7% change.
Shares of APA have returned +0.2% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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APA (APA) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, APA (APA - Free Report) reported revenue of $2.31 billion, down 19.6% over the same period last year. EPS came in at $1.33, compared to $1.97 in the year-ago quarter.
The reported revenue represents a surprise of +15.74% over the Zacks Consensus Estimate of $1.99 billion. With the consensus EPS estimate being $1.08, the EPS surprise was +23.15%.
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 - Natural gas - Total: 820.14 millions of cubic feet versus 833.72 millions of cubic feet estimated by 14 analysts on average.
- Production volume per day - NGL - Total: 67.78 thousands of barrels of oil compared to the 64.85 thousands of barrels of oil average estimate based on 12 analysts.
- Production volume per day - Total: 412.25 KBOE/D compared to the 410.9 KBOE/D average estimate based on eight analysts.
- Production volume per day - Oil - Total: 207.79 thousands of barrels of oil versus 206.21 thousands of barrels of oil estimated by six analysts on average.
- Average price - Natural gas - Total: $3.12 versus $2.87 estimated by six analysts on average.
- Average price per barrel - Oil - Total: $86.15 compared to the $85.13 average estimate based on five analysts.
- Average price per barrel - NGL - Total: $22.26 compared to the $22.30 average estimate based on five analysts.
- Average price per barrel - NGL - United States: $21.87 versus $21.50 estimated by four analysts on average.
- Average price - Natural gas - North Sea: $10.98 versus $10.47 estimated by four analysts on average.
- Revenues- Natural gas: $236 million compared to the $222.68 million average estimate based on four analysts. The reported number represents a change of -44.9% year over year.
- Revenues- Oil: $1.71 billion compared to the $1.61 billion average estimate based on three analysts. The reported number represents a change of +2% year over year.
- Revenues- Natural gas liquids: $138 million versus $132.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -31.7% change.
View all Key Company Metrics for APA here>>>Shares of APA have returned +0.2% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.