APA Corp. (APA) Surges 9% on Strong Earnings

Core Insights - APA Corp. has returned to profitability in Q3, reporting a net income of $205 million compared to a net loss of $223 million in the same period last year [1][4] - The stock price increased by 9.14% to close at $23.64, ending a three-day losing streak [1] - Total revenues rose by 16.4% to $2.115 billion, driven by strong oil and natural gas production [2] Financial Performance - Reported production was 464,000 barrels of oil equivalent per day (boe/pd), with adjusted production at 387,000 boe/pd, exceeding production guidance [3] - Oil production in the US reached 121,000 barrels per day [3] - The company is on track to achieve $350 million in run-rate savings by year-end, two years ahead of schedule, and anticipates recognizing an additional $50 million to $100 million by the end of 2026 [4] Strategic Focus - The CEO emphasized the company's commitment to operational execution, disciplined cost management, and strategic priorities [4] - The company has exceeded production guidance across all operating areas and strengthened its balance sheet [5]