Apache Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Apache Corp (NYSE:APA) will unveil its latest earnings on Thursday, May 3, 2012. Apache is an energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids in six countries.

Apache Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of $3.10 per share, a rise of 8% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from $3.09. Between one and three months ago, the average estimate moved down. It has risen from $3.02 during the last month. Analysts are projecting profit to rise by 4.6% compared to last year’s $12.48.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 7 cents, reporting profit of $2.94 per share against a mean estimate of net income of $2.87 per share.

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Wall St. Revenue Expectations: On average, analysts predict $4.51 billion in revenue this quarter, a rise of 15.1% from the year-ago quarter. Analysts are forecasting total revenue of $18.55 billion for the year, a rise of 9.8% from last year’s revenue of $16.89 billion.

Analyst Ratings: Analysts are high on the stock, with 18 analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 72.7% to $1.19 billion ($2.98 a share) from $688.5 million ($1.74 a share) the year earlier, exceeding analyst expectations. Revenue rose 25.1% to $4.3 billion from $3.43 billion.

Key Stats:

With double-digit revenue growth the past four quarters, this earnings release is a chance to keep that positive trend going. The company has averaged year-over-year revenue growth of 40.4% over the last four quarters.

After experiencing income increases the last three quarters, the company is hoping to keep the good news coming with this earnings announcement. Net income rose 46.4% in the second quarter of the last fiscal year and 28.7% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year.

Stock Price Performance: Between March 1, 2012 and April 27, 2012, the stock price had fallen $14.04 (-12.9%), from $108.95 to $94.91. The stock price saw one of its best stretches over the last year between January 26, 2012 and February 9, 2012, when shares rose for 11 straight days, increasing 9% (+$8.75) over that span. It saw one of its worst periods between April 2, 2012 and April 11, 2012 when shares fell for seven straight days, dropping 8.1% (-$8.14) over that span.

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

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