U.S. Markets close in 4 hrs 17 mins

Anadarko Petroleum (APC) Beats Earnings Estimates in Q1

Zacks Equity Research

Anadarko Petroleum Corporation’s APC generated first-quarter 2019 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 30 cents by 76.67%. Also, the bottom lime improved by a penny from the year-ago quarter's number.

On a GAAP basis, the company incurred a loss of 3 cents in the quarter.

Total Revenues

In the reported quarter, Anadarko Petroleum’s revenues amounted to $3,218 million, which surpassed the Zacks Consensus Estimate of $2,942 million by 7.58%. Also, the top line increased 5.7% year over year. The upside was primarily driven by higher oil, natural gas as well as gathering, processing and marketing sales.

Anadarko Petroleum Corporation Price, Consensus and EPS Surprise

Anadarko Petroleum Corporation Price, Consensus and EPS Surprise | Anadarko Petroleum Corporation Quote

Operational Highlights

In the quarter, the company’s average daily sales volume was 715,000 barrels of oil equivalent per day (BOE/d), up 11.2% year over year. U.S. Onshore assets generated sales volumes of 465,000 BOE/d, up 16.25% from the prior-year quarter’s figure.

The company’s total costs and expenses in the first quarter fell 4.4% year over year to $2,384 million, primarily on lower exploration, general and administrative as well as impairments expenses along with reduced other operating expenses.

Interest expenses totalled $253 million, up from $228 million in the year-earlier quarter.

Financial Condition

The company had cash and cash equivalents of $2,026 million as of Mar 31, 2019, up from $1,295 million as of Dec 31, 2018.

Long-term debt as of Mar 31, 2019 was $15,903 million, down from $15,470 million as of Dec 31, 2018.

The company’s net cash flow from operating activities was $1,129 million compared with $1,430 million in the prior-year quarter.

Zacks Rank

Anadarko Petroleum currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Oils-Energy Release

TOTAL S.A. TOT delivered first-quarter 2019 operating earnings of $1.02 per share (€0.90 per share), which lagged the Zacks Consensus Estimate of $1.09 by 6.4%

Upcoming Release

EOG Resources Inc. EOG is expected to release first-quarter 2019 earnings on May 2. The Zacks Consensus Estimate for earnings is pegged at $1.03 per share.

Occidental Petroleum Corporation OXY is expected to release first-quarter 2019 earnings on May 6. The Zacks Consensus Estimate for earnings is pegged at 72 cents per share.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.

See their latest picks free >>
 


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
TOTAL S.A. (TOT) : Free Stock Analysis Report
 
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
 
Anadarko Petroleum Corporation (APC) : Free Stock Analysis Report
 
Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research