Anadarko Petroleum Earnings: Swung to a Loss but Beat Estimates

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

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Anadarko Petroleum Earnings Cheat Sheet for the Fourth Quarter

Results: Reported a loss of $358 million (72 cents per diluted share) in the quarter. Anadarko Petroleum Corporation had a net income of $111 million or 22 cents per share in the year earlier quarter.

Revenue: Rose 42.7% to $3.84 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Anadarko Petroleum Corporation reported adjusted net income of 85 cents per share. By that measure, the company beat the mean estimate of 60 cents per share. It beat the average revenue estimate of $3.31 billion.

Quoting Management: “During 2011, we continued to demonstrate the power of Anadarko’s capital-efficient portfolio by achieving sales volumes at the high end of guidance with capital spending at the low end of the guidance range. We also generated significant discretionary cash flow and delivered record sales volumes, strong reserve additions at very competitive costs, and a leading deepwater exploration and appraisal drilling success rate,” said Anadarko Chairman and CEO Jim Hackett.

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of 65 cents versus a mean estimate of net income of 66 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 69 cents a share to 63 cents over the last sixty days. For the fiscal year, the average estimate has moved up from $3.08 a share to $3.11 over the last sixty days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at

To contact the editor responsible for this story: Damien Hoffman at