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.
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.”
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).
(Source: Xignite Financials)