Anadarko Petroleum Earnings: Here’s Why Shares are Up Now

Anadarko Petroleum Corporation (NYSE:APC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.73%.

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Anadarko Petroleum Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 17.39% to $1.08 in the quarter versus EPS of $0.92 in the year-earlier quarter.

Revenue: Rose 12.94% to $3.89 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Anadarko Petroleum Corporation reported adjusted EPS income of $1.08 per share. By that measure, the company beat the mean analyst estimate of $0.94. It beat the average revenue estimate of $3.49 billion.

Quoting Management: “The record first-quarter 2013 results reflect our commitment to accelerate value by increasing production in our core operating areas, selectively monetizing assets and delivering large-scale projects on budget,” said Anadarko President and CEO Al Walker. “We achieved a 16-percent year-over-year increase in oil sales volumes, primarily driven by 25,000 barrels-per-day growth from our U.S. onshore assets, plus the benefit of an accelerated tanker lifting at Jubilee. In addition, we monetized more than $1.2 billion of assets, including the $860 million carried-interest agreement at Heidelberg, and achieved first oil at our El Merk development in Algeria. I’m also very proud of our very active global deepwater exploration program that continues to deliver industry-leading success and differentiating value.”

Key Stats (on next page)…

Revenue increased 14.16% from $3.41 billion in the previous quarter. EPS increased 18.68% from $0.91 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.88 to a profit $0.94. For the current year, the average estimate has moved up from a profit of $3.96 to a profit of $4.13 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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