earnings
confidence high
sentiment positive
materiality 0.85
APA Q2 net income $541M; adjusted EPS $1.17; raises production guidance
APA Corp
2024-Q2 EPS reported
$2.00
- Net income $541M ($1.46 diluted EPS); adjusted earnings $434M ($1.17 adjusted EPS).
- Reported production 473k BOE/d; U.S. oil output up 67% QoQ to 139.5k bbl/d.
- Raises full-year U.S. oil production guidance; expects 8% Q2-to-Q4 growth.
- Callon synergy estimate increased to $250M (up $100M from initial); asset sales closed $660M.
- Suriname Block 58 FID on track by year-end 2024; first oil expected 2028.