APA Corp Q1 net income $132M ($0.44/diluted); adjusted EPS $0.78; raises Callon cost synergies to $225M

APA Corp

2024-Q1 EPS reported $0.44

Net income $132M ($0.44 diluted EPS); adjusted earnings $237M ($0.78 diluted EPS) on production of 389K BOE/d.
Completed Callon Petroleum acquisition; increased expected annual cost synergies by 50% to $225M.
Permian strength drove U.S. oil volumes above guidance for fifth consecutive quarter; Permian to represent >70% of 2024 capex.
Alaska King Street #1 well discovered high-quality oil; two other wells did not reach targets due to delays.
Generated $368M net cash from operations, $1.24B adjusted EBITDAX; returned $176M to shareholders via dividends and buybacks.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

APA Corp reported first quarter of 2024 results: net income net income attributable to common stock of $132 million, EPS $0.44 per diluted share. Guidance reaffirmed.

Period: first quarter of 2024
Net income: net income attributable to common stock of $132 million
EPS: $0.44 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

APA reported net income attributable to common stock of $132 million, or $0.44 per diluted share. When adjusted for items that impact the comparability of results, APA’s first-quarter earnings were $237 million, or $0.78 per diluted share.

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Source: SEC EDGAR

accession 0001193125-24-128563

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