Apache Earnings: Everything You Must Know Now

Apache Corp. (NYSE:APA) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Apache Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $2.27 in the quarter versus EPS of $2.94 in the year-earlier quarter.

Revenue: Rose 2.19% to $4.39 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Apache Corp. reported adjusted EPS income of $2.27 per share. By that measure, the company missed the mean analyst estimate of $2.30. It beat the average revenue estimate of $4.37 billion.

Quoting Management: “Having deepened and strengthened our global portfolio of growth projects since 2010, we are accelerating our operational momentum,” said G. Steven Farris, chairman and chief executive officer. “Apache exited 2012 producing in excess of 800,000 boe per day, driven primarily by our North American oil production, which increased 12 percent during the year.”

Key Stats (on next page)…

Revenue increased 5.07% from $4.18 billion in the previous quarter. EPS increased 5.09% from $2.16 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $2.40 to a profit $2.30. For the current year, the average estimate has moved down from a profit of $9.72 to a profit of $9.70 over the last ninety days.

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