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APA Corporation to Release Q4 Earnings: Here's What to Expect
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APA Corporation (APA - Free Report) is set to release fourth-quarter 2024 results on Feb. 26. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 97 cents per share on revenues of $2.3 billion.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Let’s delve into the factors that might influence this upstream operator’s results for the December quarter. But it’s worth taking a look at APA’s previous-quarter performance first.
Highlights of Q3 Earnings & Surprise History
In the last reported quarter, the independent oil and gas explorer missed the consensus mark due to lower commodity prices and higher costs. APA reported adjusted earnings per share of $1, underperforming the Zacks Consensus Estimate of $1.03. However, revenues of $2.5 billion beat the Zacks Consensus Estimate by nearly 12% on the back of contribution from the Callon Petroleum acquisition and higher-than-expected production.
APA beat the Zacks Consensus Estimate in one of the last four quarters and missed in the others. This is depicted in the graph below:
The Zacks Consensus Estimate for the fourth-quarter bottom line has been unchanged in the past seven days. The estimated figure indicates a 15.7% drop year over year. The Zacks Consensus Estimate for revenues, however, suggests a 20.2% increase from the year-ago period.
Factors to Consider
APA is expected to have benefited from higher domestic production during the fourth quarter. The company continues to churn out impressive volumes from its vast inventory of drill-ready locations in the Permian Basin — America's hottest and lowest-cost shale region. Consequently, our expectation for APA’s average fourth-quarter volume is pegged at 311,984 barrels of oil equivalent per day (BOE/d), up 36.4% from the year-ago level of 228,671 BOE/d. The quarterly production numbers also reflect contributions from the Callon Petroleum acquisition that was closed last April.
Investors should know that APA’s strategic acquisitions since 2020 have added over $5 billion in assets and divested $2.5 billion in non-core properties, effectively doubling its unconventional production in the Permian Basin. The integration of Callon Petroleum’s assets has boosted operational efficiency, increased drilling inventory, and reduced per-unit lease operating expenses. These efforts have transformed APA into a leading unconventional pure-play operator, positioning it to capitalize on long-term growth opportunities.
Why a Likely Positive Surprise?
Our proven model predicts an earnings beat for APA Corporation this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
FANG has an Earnings ESP of +3.97% and a Zacks Rank #3.
Other Stocks to Consider
APA is not the only company looking up this earnings cycle. Here are some other energy firms that you may want to consider on the basis of our model:
Crescent Energy Company (CRGY - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2. The firm is scheduled to release earnings on Feb. 26.
Crescent Energy beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 97.6%, on average. Valued at around $3.3 billion, CRGY has gained 29.9% in a year.
DT Midstream (DTM - Free Report) has an Earnings ESP of +0.28% and a Zacks Rank #2. The firm is scheduled to release earnings on Feb. 26.
The 2025 Zacks Consensus Estimate for DT Midstream indicates 16.6% year-over-year earnings per share growth. Valued at around $9.6 billion, DTM has gone up 73.5% in a year.
Excelerate Energy (EE - Free Report) has an Earnings ESP of +2.60% and a Zacks Rank #3. The firm is scheduled to release earnings on Feb. 26.
The 2025 Zacks Consensus Estimate for Excelerate Energy indicates 12.6% year-over-year earnings per share growth. Valued at around $3 billion, EE has gone up 98.8% in a year.
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APA Corporation to Release Q4 Earnings: Here's What to Expect
APA Corporation (APA - Free Report) is set to release fourth-quarter 2024 results on Feb. 26. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 97 cents per share on revenues of $2.3 billion.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Let’s delve into the factors that might influence this upstream operator’s results for the December quarter. But it’s worth taking a look at APA’s previous-quarter performance first.
Highlights of Q3 Earnings & Surprise History
In the last reported quarter, the independent oil and gas explorer missed the consensus mark due to lower commodity prices and higher costs. APA reported adjusted earnings per share of $1, underperforming the Zacks Consensus Estimate of $1.03. However, revenues of $2.5 billion beat the Zacks Consensus Estimate by nearly 12% on the back of contribution from the Callon Petroleum acquisition and higher-than-expected production.
APA beat the Zacks Consensus Estimate in one of the last four quarters and missed in the others. This is depicted in the graph below:
APA Corporation Price and EPS Surprise
APA Corporation price-eps-surprise | APA Corporation Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for the fourth-quarter bottom line has been unchanged in the past seven days. The estimated figure indicates a 15.7% drop year over year. The Zacks Consensus Estimate for revenues, however, suggests a 20.2% increase from the year-ago period.
Factors to Consider
APA is expected to have benefited from higher domestic production during the fourth quarter. The company continues to churn out impressive volumes from its vast inventory of drill-ready locations in the Permian Basin — America's hottest and lowest-cost shale region. Consequently, our expectation for APA’s average fourth-quarter volume is pegged at 311,984 barrels of oil equivalent per day (BOE/d), up 36.4% from the year-ago level of 228,671 BOE/d. The quarterly production numbers also reflect contributions from the Callon Petroleum acquisition that was closed last April.
Investors should know that APA’s strategic acquisitions since 2020 have added over $5 billion in assets and divested $2.5 billion in non-core properties, effectively doubling its unconventional production in the Permian Basin. The integration of Callon Petroleum’s assets has boosted operational efficiency, increased drilling inventory, and reduced per-unit lease operating expenses. These efforts have transformed APA into a leading unconventional pure-play operator, positioning it to capitalize on long-term growth opportunities.
Why a Likely Positive Surprise?
Our proven model predicts an earnings beat for APA Corporation this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
FANG has an Earnings ESP of +3.97% and a Zacks Rank #3.
Other Stocks to Consider
APA is not the only company looking up this earnings cycle. Here are some other energy firms that you may want to consider on the basis of our model:
Crescent Energy Company (CRGY - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2. The firm is scheduled to release earnings on Feb. 26.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Crescent Energy beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 97.6%, on average. Valued at around $3.3 billion, CRGY has gained 29.9% in a year.
DT Midstream (DTM - Free Report) has an Earnings ESP of +0.28% and a Zacks Rank #2. The firm is scheduled to release earnings on Feb. 26.
The 2025 Zacks Consensus Estimate for DT Midstream indicates 16.6% year-over-year earnings per share growth. Valued at around $9.6 billion, DTM has gone up 73.5% in a year.
Excelerate Energy (EE - Free Report) has an Earnings ESP of +2.60% and a Zacks Rank #3. The firm is scheduled to release earnings on Feb. 26.
The 2025 Zacks Consensus Estimate for Excelerate Energy indicates 12.6% year-over-year earnings per share growth. Valued at around $3 billion, EE has gone up 98.8% in a year.