Anadarko Petroleum Corp Earnings Cheat Sheet: Back in the Black

S&P 500 (NYSE:SPY) component Anadarko Petroleum Corporation (NYSE:APC) reported its results for the second quarter. Anadarko Petroleum Corp. is engaged in the exploration and production of oil and natural gas.

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Anadarko Petroleum Earnings Cheat Sheet for the Second Quarter

Results: Swung to a profit of $544 million ($1.08 per diluted share) in the quarter. Anadarko Petroleum Corporation had a net loss of $40 million or a loss 8 cents per share in the year earlier quarter.

Revenue: Rose 43.4% to $3.68 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: APC beat the mean analyst estimate of 96 cents per share. It beat the average revenue estimate of $3.47 billion.

Quoting Management: “We achieved record liquids sales volumes during the quarter, enhancing margins and generating excellent cash flows,” said Anadarko Chairman and CEO Jim Hackett. “Nearly all of the year-over-year volume growth was attributable to a 34,000 barrel-per-day increase in liquids volumes. These results contributed to strong discretionary cash flows of more than $1.8 billion — approximately $117 million above our capital expenditures, which included a one-time cash investment of $518 million associated with the acquisition of the Wattenberg plant.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 16 cents in the first quarter and by 9 cents in the fourth quarter of the last fiscal year.

The company’s revenue has now risen for two straight quarters. In the first quarter, revenue increased 3.9% to $3.25 billion from the year earlier quarter.

Competitors to Watch: Chevron Corporation (NYSE:CVX), Devon Energy Corporation (NYSE:DVN), BP plc (NYSE:BP), ConocoPhillips (NYSE:COP), Exxon Mobil Corporation (NYSE:XOM), Chesapeake Energy Corp. (NYSE:CHK), Newfield Exploration Co. (NYSE:NFX), EOG Resources, Inc. (NYSE:EOG), Plains Exploration & Production Co. (NYSE:PXP), and Marathon Oil Corporation (NYSE:MRO).

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(Source: Xignite Financials)