APA Corporation (APA) Misses Q4 EPS by 18c; offers outlook

APA Corporation (NASDAQ: APA) reported Q4 EPS of $1.15, $0.18 worse than the analyst estimate of $1.33. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $2.08 billion.

OUTLOOK

• Planning upstream capital budget of $1.9 to $2.0 billion;
• Investing to sustain production on a year-over-year basis;
• Forecasting strong U.S. oil growth in 2024, approximately 8% year-over-year and more than 10% from
fourth-quarter 2023 to fourth-quarter 2024;
• Pending acquisition of Callon Petroleum Company adds scale to APA’s existing Delaware Basin assets
and is expected to be accretive to key financial metrics; and
• Committing to return at least 60% of FCF to shareholders.

For earnings history and earnings-related data on APA Corporation (APA) click here.

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