APA (NASDAQ:APA) Third Quarter 2022 Results
Key Financial Results
Revenue: US$2.92b (up 77% from 3Q 2021).
Net income: US$422.0m (up from US$113.0m loss in 3Q 2021).
Profit margin: 14% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue.
EPS: US$1.28 (up from US$0.30 loss in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
APA Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) missed analyst estimates by 30%.
Looking ahead, revenue is expected to fall by 8.4% p.a. on average during the next 3 years compared to a 6.5% decline forecast for the Oil and Gas industry in the US.
The company's shares are up 8.9% from a week ago.
You should always think about risks. Case in point, we've spotted 2 warning signs for APA you should be aware of, and 1 of them is potentially serious.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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