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APA (APA)
NASDAQ:APA
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.98Last Year’s EPS
$1.15Same Quarter Last Year
Based on 21 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -14.92%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While there were significant strategic advancements such as the Suriname project's FID and a credit rating upgrade, challenges remain with North Sea asset impairments and production declines in Egypt.Company Guidance
In the third quarter of 2024, APA Corporation's guidance outlined several key metrics and strategic moves. They reported a consolidated net loss of $223 million, equating to $0.60 per diluted share, largely due to a $571 million after-tax impairment related to North Sea and Permian assets. Adjusted net income was $370 million or $1 per share. The company announced the sale of noncore Permian properties for $950 million, expected to close in December, and highlighted their final investment decision on the offshore Suriname Block 58 project, which has a $10.5 billion gross cost and a projected production capacity of 220,000 barrels per day. APA plans to run an eight-rig program in the Permian and a 12-rig program in Egypt for 2025, aiming to sustain production levels while reducing per unit costs by 10% to 15%. The capital budget for 2025 is projected at $2.2 to $2.3 billion, with additional allocations for Suriname and exploration activities. These initiatives are framed within a broader strategy to maintain shareholder value through operational efficiency and portfolio optimization.Significant Portfolio Transformation
APA transformed its asset base with over $5 billion in acquisitions and $2.5 billion in divestitures, increasing unconventional acreage by more than 40% and doubling unconventional production.
Suriname Project FID
Final Investment Decision on the GranMorgu project in Block 58, Suriname, with $10.5 billion gross cost and 220,000 barrels per day production capacity.
Investment-Grade Status
APA received a credit rating upgrade from Standard & Poor's, achieving investment-grade status at all three major rating agencies.
Strong Operational Performance
Exceeded production guidance while capital and costs were below guidance in Q3, with increased cash flow from operations and free cash flow despite weaker oil prices.
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APA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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APA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $24.73 | $21.93 | -11.32% |
| Jul 31, 2024 | $30.88 | $30.77 | -0.36% |
| May 01, 2024 | $29.96 | $28.66 | -4.34% |
| Feb 21, 2024 | $30.64 | $29.46 | -3.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does APA (APA) report earnings?
APA (APA) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is APA (APA) earnings time?
APA (APA) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is APA EPS forecast?
APA EPS forecast for the fiscal quarter 2024 (Q4) is $0.98.
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