Anadarko Petroleum Corporation’s APC generated second-quarter 2019 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 46 cents by 10.87%. The bottom lime declined 5.5% from the year-ago quarter's figure of 54 cents.
On a GAAP basis, the company incurred a loss of $2.09 in the quarter compared with earnings of 5 cents in the year ago quarter,
In the reported quarter, Anadarko Petroleum’s revenues amounted to $3,442 million that surpassed the Zacks Consensus Estimate of $3,205 million by 7.39%. Also, the top line increased 4.6% 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-eps-surprise-chart | Anadarko Petroleum Corporation Quote
In the quarter, the company’s average daily sales volume was 744,000 barrels of oil equivalent per day (BOE/d), up 16.8% year over year. U.S. Onshore assets generated sales volumes of 484,000 BOE/d, up 16% from the prior-year quarter’s figure.
The company’s total costs and expenses in the second quarter increased 47.9% year over year to $3,657 million, primarily on higher Oil and gas operating,Oil and gas transportation,Gathering, processing and marketing expenses as well as Depreciation, depletion, and amortization expenses. Moreover, the company also incurred additional expenses related to merger transaction costs.
Interest expenses totaled $249 million, up from $237 million in the prior-year quarter.
The company had cash and cash equivalents of $1,394 million as of Jun 30, 2019, up from $1,295 million as of Dec 31, 2018.
Long-term debt as of Jun 30 was $18,198 million, up from $15,470 million as of Dec 31, 2018.
The company’s net cash flow from operating activities was $776 million compared with $1,225 million in the prior-year quarter.
Anadarko Petroleum currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TOTAL S.A. TOT reported second-quarter 2019 operating earnings of $1.05 per share (€0.94 per share), which lagged the Zacks Consensus Estimate of $1.23 by 14.6%.
Covanta Holding Corporation CVA incurred second-quarter 2019 loss of 16 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 9 cents.
NextEra Energy Partners, LP NEP incurred second-quarter 2019 loss of 49 cents per unit against the Zacks Consensus Estimate of earnings of 48 cents.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>
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
Anadarko Petroleum Corporation (APC) : Free Stock Analysis Report
Covanta Holding Corporation (CVA) : Free Stock Analysis Report
NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research