---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-135255"
form_type: "8-K"
ticker: "APA"
cik: "0001841666"
company_name: "APA Corp"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:00:00.976904+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# APA Q1 net income $242M ($0.78/diluted); cuts 2023 capex by $100M to $1.9-2.0B

## Summary
- Net income $242M ($0.78/diluted); adjusted earnings $372M ($1.19/diluted).
- Adjusted EBITDAX $1.3B; free cash flow $272M; returned 81% of FCF to shareholders.
- Reported production 394K BOE/d; adjusted production 318K BOE/d; oil beat expectations.
- Cut 2023 upstream capex by $100M to $1.9-2.0B due to weak Permian gas; lean gas drilling reduced.
- Suriname appraisal at Krabdagu progressing in line with expectations.

## SEC filing metadata
- accession: 0001193125-23-135255
- form_type: 8-K
- ticker: APA
- cik: 0001841666
- company_name: APA Corp
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841666/000119312523135255/0001193125-23-135255-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841666/000119312523135255/d292099d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-135255
- JSON: https://secwatch.observer/filing/0001193125-23-135255.json
- Plain text: https://secwatch.observer/filing/0001193125-23-135255.txt

## Key facts
- Earnings Releases
  APA Corp reported the first quarter of 2023 results: net income $242 million, or $0.78 per diluted share, EPS $0.78 per diluted share. Guidance lowered.
  - Period: the first quarter of 2023
  - Net income: $242 million, or $0.78 per diluted share
  - EPS: $0.78 per diluted share
  - Guidance: lowered
  - Result: reported results
  source text: APA reported net income attributable to common stock of $242 million, or $0.78 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841666/000119312523135255/0001193125-23-135255-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.