HOUSTON, Feb. 26, 2024 (GLOBE NEWSWIRE) -- APA Corporation (NASDAQ:APA) announced today that the applicable statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired on Feb. 22, 2024. Assuming both APA and Callon shareholder approvals are obtained, the closing of the acquisition is expected to occur on or about April 1, 2024. APA and Callon have scheduled separate shareholder meetings for March 27, 2024, for their respective shareholders to vote on the transaction. APA ...

Financial Data and Key Metrics Changes - For Q4 2023, APA Corporation reported consolidated net income of $1.8 billion or $5.78 per diluted common share, with adjusted net income of $352 million or $1.15 per share [24] - Free cash flow for the quarter was $292 million, with 68% returned to shareholders, and for the full year, 66% of free cash flow was returned [25][26] - General and administrative (G&A) expenses for the quarter were $75 million, significantly below guidance due to a decrease in APA share price [26] Business Line Data and Key Metrics Changes - Adjusted oil production increased by 4% from Q4 2022 to Q4 2023, driven by production growth in the Midland and Delaware Basins, which was up over 20% [10] - Upstream capital investment for Q4 was $520 million, slightly above guidance, with a strong performance from the U.S. oil production, which was up 12% compared to the same quarter last year [12] - In Egypt, adjusted production exceeded guidance due to higher natural gas production, although gross oil production was lower than expected due to workover rig capacity constraints [13][14] Market Data and Key Metrics Changes - The company anticipates a flat to lower price environment in 2024, establishing a budget based on $70 WTI and $75 Brent [16] - In the North Sea, production is expected to decrease by roughly 20% year-over-year due to reduced capital investment and planned maintenance [18] Company Strategy and Development Direction - The company emphasizes a strategic framework focused on long-term full-cycle returns, moderate sustainable production growth, and strengthening the balance sheet [8][9] - APA plans to redirect capital to the Permian Basin while reducing the drilling program in Egypt to manage workover rig capacity [16][17] - The acquisition of Callon Petroleum is expected to enhance scale and balance in the Permian asset base, with anticipated operational synergies exceeding initial estimates [20][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges in Egypt related to workover rig availability and early life failures of new electrical submersible pumps, which are being addressed [15][41] - The company maintains a constructive medium- and long-term outlook despite potential near-term commodity price weakness, committing to return at least 60% of free cash flow to shareholders [23][22] Other Important Information - The company has successfully appraised significant oil resources in Suriname, with plans for high-margin production beginning in 2028 [22] - APA has implemented over 70% of projects aimed at reducing CO2 emissions, aligning with its ESG goals [11] Q&A Session Summary Question: Outlook for Egypt's production and resolution of issues - Management indicated that the underlying issue is the ratio of workover rigs to drilling rigs, which has been below historical levels, and they are working to balance this [32][33][34] Question: Exploration program in Alaska - The exploration program in Alaska is seen as high-risk but with significant potential, with three wells planned for drilling [39][40] Question: Performance and productivity in Egypt - The new wells in Egypt performed well, but challenges with ESPs impacted overall production [44] Question: Integration of Callon assets - Integration teams are in place, and the company is focused on a smooth transition, with expectations to run a combined total of 11 rigs in the Permian [46][47] Question: Payment situation in Egypt - The company reported a decrease in past due receivables from the Egyptian government, indicating improved collection trends [68] Question: Abandonment cost impact on cash flow - Management clarified that abandonment costs are booked liabilities and do not go through the capital program [71]

Core Viewpoint - APA Corporation reported lower-than-expected fourth-quarter 2023 earnings and revenues, primarily due to declining oil and natural gas prices, despite strong production levels [1] Financial Performance - Adjusted earnings per share for Q4 2023 were $1.15, missing the Zacks Consensus Estimate of $1.38 and down from $1.48 in the previous year [1] - Revenues totaled $1.9 billion, falling short of the Zacks Consensus Estimate of $2 billion and down 20.5% from the same quarter last year [1] - The company generated $1 billion in cash from operating activities and reported a free cash flow of $292 million, a decrease from $360 million a year ago [5] Production and Pricing - Average production of oil and natural gas was 414,430 BOE/d, with 67% being liquids, remaining stable year-over-year and exceeding expectations [3] - U.S. output increased by 5% year-over-year to 228,671 BOE/d, while international production decreased by 6% to 185,759 BOE/d [3] - The average realized crude oil price was $81.36 per barrel, down 5.6% from $86.17 a year ago, but above the projected $76.83 [3] Costs and Financial Position - Lease operating expenses for Q4 were $360 million, down 4.5% from $377 million in the previous year [4] - Total operating expenses decreased by 14.3% year-over-year to $1.4 billion [4] - As of December 31, the company had approximately $87 million in cash and cash equivalents and $5.2 billion in long-term debt, with a debt-to-capitalization ratio of 66.1% [6] Guidance - APA expects adjusted production to average between 328,000-330,000 BOE/d in Q1 2024 and 323,000-325,000 BOE/d for the full year [7] - The company has set its upstream capital expenditure for 2024 at $1.9-$2 billion [7]

APA (APA) reported $1.89 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 20.5%. EPS of $1.15 for the same period compares to $1.48 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.05 billion, representing a surprise of -7.49%. The company delivered an EPS surprise of -16.67%, with the consensus EPS estimate being $1.38.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

APA (APA) came out with quarterly earnings of $1.15 per share, missing the Zacks Consensus Estimate of $1.38 per share. This compares to earnings of $1.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.67%. A quarter ago, it was expected that this oil and natural gas producer would post earnings of $1.08 per share when it actually produced earnings of $1.33, delivering a surprise of 23.15%.Over the last four quarters, the ...

Part I [Item 1 & 2. Business and Properties](index=8&type=section&id=ITEMS%201%20and%202.%20BUSINESS%20AND%20PROPERTIES) APA Corporation is an independent energy company with diverse upstream operations and a strategy focused on returns and free cash flow - APA Corporation is an independent energy company engaged in the exploration, development, and production of natural gas, crude oil, and NGLs, with primary operations in the U.S., Egypt, and the U.K. North Sea[15](index=15&type=chunk) - The company's business strategy emphasizes a diversified asset portfolio, investing for **long-term returns** over production growth, and generating **free cash flow** for debt reduction and shareholder returns[18](index=18&type=chunk)[23](index=23&type=chunk) - On January 3, 2024, APA entered into a definitive agreement to acquire Callon Petroleum Company in an all-stock transaction valued at approximately **$4.5 billion**, aiming to enhance its Permian Basin asset base[22](index=22&type=chunk)[232](index=232&type=chunk) - In Suriname Block 58, development studies have been launched for a large oil project with confirmed recoverable resources of an estimated **700 million barrels of oil**, with a final investment decision expected by year-end 2024[51](index=51&type=chunk)[230](index=230&type=chunk) 2023 Operational Summary by Geographic Area | Operating Area | Production (MMboe) | % of Total Production | Production Revenue ($M) | Year-End Proved Reserves (MMboe) | % of Total Proved Reserves | |---------------------|--------------------|-----------------------|-------------------------|----------------------------------|------------------------------| | United States | 79.3 | 54% | $3,018 | 566 | 70% | | Egypt | 52.3 | 35% | $3,029 | 171 | 21% | | North Sea | 16.2 | 11% | $1,338 | 70 | 9% | | **Total** | **147.8** | **100%** | **$7,385** | **807** | **100%** | Year-End 2023 Estimated Proved Reserves | Reserve Category | Oil (MMbbls) | NGL (MMbbls) | Gas (Bcf) | Total (MMboe) | |-----------------------|--------------|--------------|-----------|---------------| | **Proved Developed** | 343 | 155 | 1,428 | 735 | | **Proved Undeveloped**| 36 | 18 | 102 | 72 | | **Total Proved** | **379** | **173** | **1,530** | **807** | [Upstream Exploration and Production](index=10&type=section&id=Upstream%20Exploration%20and%20Production) The company's upstream activities are led by U.S. operations in the Permian Basin, with international assets in Egypt and the North Sea - U.S. operations are concentrated in the Permian Basin (Midland and Delaware Basins), holding **1.8 million net acres**, where the company drilled **126 successful development wells** in 2023[29](index=29&type=chunk)[30](index=30&type=chunk) - In Egypt, operations are governed by a modernized Production Sharing Contract (PSC) that consolidated most acreage and refreshed lease terms, with a joint venture holding a **one-third noncontrolling interest**[41](index=41&type=chunk)[43](index=43&type=chunk) - The company **suspended all new drilling activity** in the North Sea during the second quarter of 2023, shifting its investment program toward safety and asset maintenance[46](index=46&type=chunk) Worldwide Drilling Statistics (2021-2023) | Year | Net Exploratory Wells (Productive/Dry) | Net Development Wells (Productive/Dry) | Total Net Wells (Productive/Dry) | |:----:|:--------------------------------------:|:--------------------------------------:|:------------------------------------:| | 2023 | 25.2 / 24.3 | 144.5 / 7.7 | 169.7 / 32.0 | | 2022 | 16.0 / 16.6 | 106.1 / 0.0 | 122.1 / 16.6 | | 2021 | 10.6 / 15.8 | 98.2 / 1.5 | 108.8 / 17.3 | [Human Capital Management](index=21&type=section&id=Human%20Capital%20Management) The company focuses on diversity, talent development, and employee safety, employing 2,271 people globally as of year-end 2023 - Globally, **women comprise 23% of the workforce**, 20% of leadership roles, and 30% of the Board of Directors, while in the U.S., 37% of the workforce self-reports as non-white[90](index=90&type=chunk)[91](index=91&type=chunk) Employee Count by Region (as of Dec 31, 2023) | Region | Employees | |----------------|-----------| | North America | 1,403 | | United Kingdom | 607 | | Egypt | 259 | | France | 2 | | **Total** | **2,271** | 2023 Global Primary Workforce Safety Metrics | Metric | 2023 Rate | Performance vs. Target | |--------------------------------------|-----------|-----------------------------| | Total Recordable Incident Rate (TRIR)| 0.22 | 27% below target of 0.30 | | Days Away, Restricted (DART) Rate | 0.14 | 7% below target of 0.15 | | Severe Incident Rate (SIR) | 0.005 | 82% below target of 0.028 | | Vehicle Incident Rate (VIR) | 0.65 | 16% above target of 0.56 | [Item 1A. Risk Factors](index=27&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces significant risks from commodity price volatility, operational hazards, international politics, and climate change regulations - The company's financial results are **highly dependent on volatile crude oil, natural gas, and NGL prices**, which are influenced by global supply and demand, OPEC+ actions, and geopolitical events[124](index=124&type=chunk)[125](index=125&type=chunk) - International operations, which accounted for **46% of 2023 production**, are subject to political and economic risks, including deteriorating economic conditions in Egypt leading to payment delays[179](index=179&type=chunk)[183](index=183&type=chunk) - The company faces risks related to the pending merger with Callon Petroleum, including **failure to complete the transaction** and inability to successfully integrate operations[185](index=185&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk) - Regulatory and environmental risks are significant, including potential costs from **climate change initiatives**, new regulations on hydraulic fracturing, and changes in tax laws[163](index=163&type=chunk)[166](index=166&type=chunk)[168](index=168&type=chunk)[172](index=172&type=chunk) - **Cybersecurity threats** pose a risk to operations, which are dependent on digital technologies, and a successful attack could lead to operational and financial loss[137](index=137&type=chunk)[138](index=138&type=chunk)[139](index=139&type=chunk) [Item 1B. Unresolved Staff Comments](index=38&type=section&id=ITEM%201B.%20UNRESOLVED%20STAFF%20COMMENTS) The company reports no unresolved staff comments from the SEC - None[196](index=196&type=chunk) [Item 1C. Cybersecurity](index=38&type=section&id=ITEM%201C.%20CYBERSECURITY) APA maintains a comprehensive cybersecurity program overseen by a dedicated Board committee, with no material incidents reported in 2023 - The company's cybersecurity program includes safeguards for data, technology, and information systems, with material risks incorporated into the corporate risk register[196](index=196&type=chunk) - In 2023, the Board of Directors formed a standing **Cybersecurity Committee** to assist with oversight of the company's cybersecurity program and associated risks[199](index=199&type=chunk)[200](index=200&type=chunk) - The **Chief Information Officer (CIO)** is primarily responsible for assessing and managing cybersecurity threats and oversees the Information Security Team[203](index=203&type=chunk) - As of December 31, 2023, **no risks from cybersecurity threats have materially affected** or are reasonably likely to materially affect the company's business strategy, operations, or financial condition[198](index=198&type=chunk) [Item 3. Legal Proceedings](index=41&type=section&id=ITEM%203.%20LEGAL%20PROCEEDINGS) This section incorporates by reference the information on legal and environmental matters detailed in Note 11 of the financial statements - Information regarding legal proceedings is incorporated by reference from **Note 11—Commitments and Contingencies** in the Notes to Consolidated Financial Statements[206](index=206&type=chunk) [Item 4. Mine Safety Disclosures](index=41&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) The company reports that there are no mine safety disclosures - None[207](index=207&type=chunk) Part II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=42&type=section&id=ITEM%205.%20MARKET%20FOR%20THE%20REGISTRANT'S%20COMMON%20EQUITY%2C%20RELATED%20STOCKHOLDER%20MATTERS%2C%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company details its common stock information, dividend history, and share repurchase activities for 2023 - The company has paid cash dividends on its common stock for **59 consecutive years**, with the quarterly dividend set at **$0.25 per share**[209](index=209&type=chunk) - As of December 31, 2023, the company had authorization to repurchase a maximum of **43.9 million additional shares** under its plans[211](index=211&type=chunk) 2023 Issuer Purchases of Equity Securities | Period | Total Shares Purchased | Average Price Paid per Share | |-----------------------------|------------------------|------------------------------| | January 1 to March 31, 2023 | 3,662,708 | $38.86 | | April 1 to June 30, 2023 | 1,348,347 | $33.72 | | July 1 to Sept 30, 2023 | 477,465 | $41.90 | | Oct 1 to Dec 31, 2023 | 3,222,658 | $37.73 | | **Total 2023** | **8,711,178** | **$37.81** | [Item 6. Selected Financial Data](index=43&type=section&id=ITEM%206.%20SELECTED%20FINANCIAL%20DATA) This section has been omitted from the report - Omitted[216](index=216&type=chunk) [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=44&type=section&id=ITEM%207.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses 2023 financial results, highlighting lower net income due to commodity prices, strategic acquisitions, and operational performance - The decrease in 2023 net income was driven by lower revenues from significantly lower commodity prices, partially offset by a **$1.7 billion non-cash deferred income tax benefit**[225](index=225&type=chunk)[269](index=269&type=chunk) - The company remains committed to its capital return framework of returning **60% of cash flow** over capital investment to shareholders, which included **$329 million in share repurchases** in 2023[224](index=224&type=chunk)[226](index=226&type=chunk) - APA has recorded a contingent liability of **$824 million** as of year-end 2023 for potential decommissioning obligations on Gulf of Mexico properties sold to Fieldwood Energy[326](index=326&type=chunk)[596](index=596&type=chunk)[602](index=602&type=chunk) - The company's 2024 upstream capital investment is planned at **$1.9 to $2.0 billion**, with worldwide production expected to be relatively flat year-over-year[272](index=272&type=chunk) Key Financial Results (2023 vs. 2022) | Metric | 2023 | 2022 | Change | |---------------------------------------------|---------------|---------------|-------------| | Net Income Attributable to Common Stock ($B)| $2.9 | $3.7 | ($0.8B) | | Diluted EPS | $9.25 | $11.02 | ($1.77) | | Cash from Operating Activities ($B) | $3.1 | $4.9 | ($1.8B) | | Oil & Gas Production Revenues ($B) | $7.4 | $9.2 | ($1.8B) | [Results of Operations](index=47&type=section&id=Results%20of%20Operations) Revenues decreased in 2023 due to lower commodity prices, despite a slight increase in production volumes - G&A expenses **decreased by $132 million** compared to 2022, primarily due to lower cash-based stock compensation expense[260](index=260&type=chunk) - The DD&A rate **increased to $10.12 per boe** in 2023 from $8.18 per boe in 2022, driven by cost inflation and lower proved reserves[262](index=262&type=chunk) Production Volumes by Product (Avg. Daily) | Product | 2023 | 2022 | % Change | |-----------------|-----------|-----------|----------| | Oil (b/d) | 202,746 | 188,057 | +8% | | Natural Gas (Mcf/d) | 828,343 | 864,946 | -4% | | NGL (b/d) | 64,237 | 64,034 | 0% | | **Total (boe/d)** | **405,040** | **396,249** | **+2%** | Average Realized Prices | Product | 2023 | 2022 | % Change | |-----------------------------|----------|-----------|----------| | Oil (per bbl) | $80.72 | $99.11 | -19% | | Natural Gas (per Mcf) | $2.91 | $4.98 | -42% | | NGL (per bbl) | $21.54 | $34.51 | -38% | [Capital Resources and Liquidity](index=54&type=section&id=Capital%20Resources%20and%20Liquidity) Operating cash flow decreased in 2023, with major cash uses for capital expenditures, share repurchases, and dividends - As of December 31, 2023, the company had **$5.2 billion in total debt** and **$2.9 billion in available borrowing capacity** under its syndicated credit facilities[290](index=290&type=chunk)[291](index=291&type=chunk) - In January 2024, APA entered into a **$2.0 billion** syndicated credit agreement for a senior unsecured delayed-draw term loan facility to refinance certain Callon indebtedness[304](index=304&type=chunk)[545](index=545&type=chunk) - The company has a significant contingent liability related to decommissioning sold Gulf of Mexico properties, estimated at **$824 million to $1.2 billion**, for which it has recorded a liability of $824 million[326](index=326&type=chunk)[602](index=602&type=chunk) Summary of Cash Flows (in millions) | Cash Flow Category | 2023 | 2022 | |---------------------------|-----------|-----------| | Net Cash from Operating | $3,129 | $4,943 | | Net Cash Used in Investing | ($2,138) | ($1,511) | | Net Cash Used in Financing | ($1,149) | ($3,489) | | **Change in Cash** | **($158)**| **($57)** | [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=67&type=section&id=ITEM%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company's primary market risks are commodity price volatility, interest rate fluctuations, and foreign currency exchange rates - The company's revenues and cash flows are highly dependent on volatile commodity prices; a **$1.00 per barrel change in oil price** would change annual revenue by approximately **$74 million**[347](index=347&type=chunk)[348](index=348&type=chunk) - As of December 31, 2023, the company had **$4.8 billion in fixed-rate debt**, mitigating interest rate risk on its long-term notes[350](index=350&type=chunk)[351](index=351&type=chunk) - The company is exposed to foreign currency exchange rate risk, particularly between the **U.S. dollar and the British pound**, for its North Sea operations[353](index=353&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=68&type=section&id=ITEM%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section indicates the company's audited financial statements and supplementary data are included in Part IV, Item 15 of the report - The financial statements and supplementary financial information are presented on pages F-1 through F-64 in Part IV, Item 15 of this Annual Report on Form 10-K[355](index=355&type=chunk) [Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=68&type=section&id=ITEM%209.%20CHANGES%20IN%20AND%20DISAGREEMENTS%20WITH%20ACCOUNTANTS%20ON%20ACCOUNTING%20AND%20FINANCIAL%20DISCLOSURE) The company reports no changes in or disagreements with its independent registered public accounting firm - There have been **no changes in or disagreements with the accountants** during the periods presented[356](index=356&type=chunk) [Item 9A. Controls and Procedures](index=68&type=section&id=ITEM%209A.%20CONTROLS%20AND%20PROCEDURES) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of year-end 2023 - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of December 31, 2023[357](index=357&type=chunk) - There were **no changes in internal control over financial reporting** during the quarter ended December 31, 2023, that materially affected, or are reasonably likely to materially affect, internal controls[360](index=360&type=chunk) [Item 9B. Other Information](index=69&type=section&id=ITEM%209B.%20OTHER%20INFORMATION) The company reports no adoption, modification, or termination of Rule 10b5-1 trading arrangements by directors or officers in Q4 2023 - During the three months ended December 31, 2023, none of the Company's directors or officers adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement"[361](index=361&type=chunk) [Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections](index=69&type=section&id=ITEM%209C.%20DISCLOSURE%20REGARDING%20FOREIGN%20JURISDICTIONS%20THAT%20PREVENT%20INSPECTIONS) This section is not applicable to the company - Not applicable[361](index=361&type=chunk) Part III [Items 10-14. Directors, Executive Officers, Corporate Governance, Compensation, Security Ownership, and Accountant Fees](index=70&type=section&id=ITEMS%2010%2C%2011%2C%2012%2C%2013%2C%20and%2014) Information regarding governance, compensation, and security ownership is incorporated by reference from the 2024 proxy statement - Information for Items 10, 11, 12, 13, and 14 is **incorporated by reference** from the registrant's definitive proxy statement for the 2024 annual meeting of stockholders[363](index=363&type=chunk)[365](index=365&type=chunk)[366](index=366&type=chunk)[367](index=367&type=chunk)[368](index=368&type=chunk) Part IV [Item 15. Exhibits, Financial Statement Schedules](index=71&type=section&id=ITEM%2015.%20EXHIBITS%2C%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists the company's financial statements, independent auditor's reports, and all exhibits filed with the Form 10-K - This item includes the consolidated financial statements, notes to the financial statements, and the report of the independent registered public accounting firm, **Ernst & Young LLP**[371](index=371&type=chunk)[391](index=391&type=chunk)[398](index=398&type=chunk) - A list of exhibits filed with the report is provided, including the **merger agreement with Callon Petroleum**, credit agreements, and executive compensation plans[374](index=374&type=chunk) - The report from independent petroleum consultants **Ryder Scott Company, L.P.** regarding the company's oil and gas reserves is filed as an exhibit[378](index=378&type=chunk) [Item 16. Form 10-K Summary](index=74&type=section&id=ITEM%2016.%20FORM%2010-K%20SUMMARY) The company reports that there is no Form 10-K summary - None[380](index=380&type=chunk)

Exhibit 99.1 NEWS RELEASE APA Corporation Announces Fourth-Quarter and Full-Year 2023 Financial and Operational Results 2023 Highlights • Delivered full-year net cash from operating activities of $3.1 billion, adjusted EBITDAX of $5.3 billion and $965 million of free cash flow (FCF); • Returned $637 million to shareholders or 66% of FCF; • Increased total company oil production by 8% year-over-year; • U.S. oil increased 12% from fourth-quarter 2022 to fourth-quarter 2023, driven by strong Permian Basin exec ...

APA Corporation (APA) is set to release fourth-quarter results on Feb 21. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of $1.38 per share on revenues of $2.1 billion.Let’s delve into the factors that might influence this upstream operator’s results in the December quarter. But it’s worth taking a look at APA’s previous-quarter performance first.Highlights of Q3 Earnings & Surprise HistoryIn the last reported quarter, the independent oil and gas explorer beat the consensus ...

APA (APA) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 21. On the ...

Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.Now that we k ...