APA čeká více než 5% průměrný roční růst těžby ropy v příštích třech letech, tažený projektem Gran Morgu u Surinamu. První ropa má přijít v polovině roku 2028.
Why One Energy Expert Is Betting on These 3 Oil Stocks NowAPA NASDAQ: APA outlined a strategy centered on cash-generating operations in the Permian Basin and Egypt, cost reductions and a global exploration portfolio that management believes can support future production growth.
Speaking at the EnerCom conference, Chief Financial Officer Ben Rodgers said the company’s 2026 capital budget is $2.1 billion, with most spending directed toward development activities in the Permian and Egypt. APA also plans to devote roughly 10% to 15% of annual capital spending to exploration over time, though that proportion is lower this year and is expected to rise next year, he said.
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3 Oil Stocks Rebounding Off Multi-Month LowsRodgers said APA’s portfolio diversification spans oil and natural gas, conventional and unconventional operations, and multiple geographic markets. The company views that diversity as an advantage because it can allocate capital among assets and access different global pricing points.
Cost cuts and cash flow Rodgers said APA achieved its original target of $350 million in annualized controllable cost savings—including capital, lease operating expense and general and administrative costs—by the end of 2025, a year ahead of its target date. The company subsequently increased its savings goal, and now expects to exit 2026 with $500 million in structural annualized cost reductions.
In addition, APA expects annualized interest expense to be about $175 million lower, resulting in roughly $700 million of lower cash costs as it enters 2027, according to Rodgers.
The company generated $1.2 billion in free cash flow during the first half of the year and used $750 million of that amount to reduce debt, he said. APA expects to end the year with debt near $3 billion, compared with nearly $9 billion when Rodgers joined the company about eight and a half years ago.
APA maintains a framework to return at least 60% of annual free cash flow to shareholders, a policy Rodgers said has been in place since 2021.
Permian and Egypt remain the foundation The Permian Basin and Egypt are APA’s primary sources of stable free cash flow, Rodgers said. APA has operated in Egypt for more than three decades and is the country’s largest oil producer, largest onshore acreage holder and largest U.S. investor, according to the CFO.
In the Permian, APA now expects 2026 production of 123,000 barrels per day while holding its capital plan at approximately $1.3 billion. The outlook has increased several times since the company’s initial November forecast of 120,000 barrels per day, Rodgers said, citing improved capital efficiency and well productivity.
The company has also outlined 10 years of economic drilling inventory in the Permian and expects continued appraisal work to potentially expand that inventory. In Egypt, APA is pursuing additional oil and gas exploration across its approximately 7 million-acre position in the Western Desert. Rodgers said a renegotiated Egyptian gas-price agreement has improved the company’s incentive to explore for and develop gas, with about half of its gas volumes receiving the new price over the past 18 months.
Separately, APA’s gas-trading operations—including Permian takeaway pipelines and an LNG contract with Cheniere—are expected to generate $950 million of cash flow net to APA this year, Rodgers said. That compares with just under $700 million last year and about $500 million in the prior year.
Suriname oil project targets 2028 start APA expects more than 5% oil compound annual growth over the next three years, supported primarily by the Gran Morgu development offshore Suriname. First oil is expected in mid-2028.
The project is operated by TotalEnergies, APA’s 50/50 partner in Block 58. Rodgers said the development is expected to use a floating production, storage and offloading vessel with capacity of 220,000 barrels per day. APA estimates the project’s post-final investment decision breakeven at $30 per barrel.
APA entered Suriname in 2015, drilled its first Block 58 exploration well in 2019 and announced a discovery in 2020. The companies reached a final investment decision on Gran Morgu in October 2024. Rodgers said APA and TotalEnergies expect to drill at least two additional exploration wells in Block 58 next year, with potential for further exploration in subsequent years.
Alaska and Uruguay exploration plans APA is also advancing exploration activities in Alaska and offshore Uruguay. In Alaska, the company plans a two-well program in 2027, including an appraisal well at the Sockeye discovery and an exploration well at Chinook. Ice-road construction is scheduled to begin in November and December, with drilling expected to start in January and February, Rodgers said.
APA recently acquired Savant on Alaska’s North Slope, adding infrastructure that includes 40,000 barrels per day of crude-processing capacity and an 80,000-barrel-per-day crude pipeline connected to the Trans-Alaska Pipeline System, as well as gravel pads, a dock and an airstrip.
In Uruguay, APA plans to operate an offshore exploration well in the second half of next year in the OFF-6 block. APA holds a 60% interest and Eni holds 40%, although Eni will carry most of the well’s costs under their agreement, Rodgers said. APA also holds a 50% interest in Uruguay’s OFF-4 block alongside Shell.
Rodgers said APA believes years of lower industrywide exploration spending could create future supply constraints, while the company expects global demand for oil and gas to remain durable. The company intends to use cash flow from its established operations to fund exploration rather than relying solely on acquisitions to replenish reserves and production.
About APA (NASDAQ:APA)APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.
In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.
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APA ve 2. čtvrtletí vykázala upravený zisk 1,89 USD na akcii, čímž překonala odhady díky vyšší ceně ropy a nižším nákladům. Zároveň zvýšila výhled těžby ropy v USA na rok 2026 na 123 000 barelů denně a snížila odhad lease operating expense o 25 milionů USD na 1,5 miliardy USD.
Key Takeaways APA's Q2 earnings beat estimates, fueled by higher oil prices and lower year-over-year expenses.APA's realized oil price surged nearly 50%, while natural gas prices fell sharply from a year ago.APA raised 2026 U.S. oil output guidance and cut lease operating expense guidance by $25 million. U.S. energy operator APA Corporation (APA - Free Report) reported second-quarter 2026 adjusted earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.85. The bottom line rose from the year-ago adjusted profit of 87 cents. The outperformance was primarily driven by higher realized oil prices and lower year-over-year expenses.
Revenues of $2.4 billion were down 8.2% from the year-ago quarter’s sales and missed the Zacks Consensus Estimate by 1.5%, caused by a decrease in natural gas revenues.
Meanwhile, APA continues to reward its shareholders, having paid out $189 million through dividends and share repurchases during the second quarter of 2026.
APA’s Q2 Production & Selling PricesProduction of oil and natural gas averaged 409,959 BOE/d, which comprised 69% liquids. The figure was down 11.8% from the year-ago quarter but surpassed our expectation of 404,982 BOE/d.
U.S. output (accounting for 64% of the total) fell 9.2% year over year to 263,187 BOE/d, but production from the company’s international operations decreased 16.2% to 146,772 BOE/d. APA’s oil and natural gas liquids (NGLs) production was 284,605 barrels per day (Bbl/d). Natural gas output totaled 752,125 thousand cubic feet per day (Mcf/d).
The average realized crude oil price during the second quarter was $98.24 per barrel, up almost 50% from the year-ago realization of $65.58. The number also significantly surpassed our projection of $76.35. The average realized natural gas price fell to 60 cents per thousand cubic feet (Mcf) from $2.28 in the year-ago period and missed our estimate of $2.03.
Costs & Financial PositionAPA’s second-quarter lease operating expenses totaled $353 million, down 3.8% from $367 million in the year-ago period. Moreover, proceeds from purchased oil/gas of $122 million meant that total operating expenses decreased nearly 29.2% from the corresponding period of 2025 to $1.1 billion. The number was below our model projection of $1.4 billion.
During the quarter under review, APA generated $1.7 billion of cash from operating activities while it incurred $546 million in upstream capital expenditures. The Zacks Rank #3 (Hold) company registered a free cash flow of $738 million compared to $134 million a year ago.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
As of June 30, APA had $444 million in cash and cash equivalents and $3.7 billion in long-term debt, representing a debt-to-capitalization of 34.8%.
2026 Guidance by APAFor full-year 2026, APA has raised its U.S. oil production guidance to 123,000 barrels per day while keeping its U.S. capital spending plan unchanged at $1.3 billion. Total upstream capital investment is projected at $2.07 billion, with exploration spending slightly lower due to the timing shift of exploration activities at Suriname Block 58. Meanwhile, lease operating expense guidance has been reduced by $25 million to $1.5 billion, reflecting continued cost-saving initiatives.
Important Earnings at a GlanceWhile we have discussed APA’s second-quarter results in detail, let us take a look at three other key reports in this space.
Expand Energy Corporation (EXE - Free Report) reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses.
Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion.
As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%.
NOV Inc. (NOV - Free Report) reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment.
The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment.
As of June 30, 2026, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%.
The Williams Companies, Inc. (WMB - Free Report) reported second-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago period’s level of 46 cents, driven by better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P and West segments.
The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate by $2 million. The figure increased by 9.8% from the year-ago quarter’s reported revenues. This can be attributed to higher service revenues and increased product sales.
As of June 30, 2026, the company had cash and cash equivalents of $203 million and long-term debt of $28.1 billion, with a debt-to-capitalization of 64.7%.
APA Corporation zveřejnila výsledky za 2. čtvrtletí 2026 a uspořádala konferenční hovor k finančním a provozním výsledkům. V úvodu vedení uvedlo, že poskytne přehled výsledků a výhledu.
APA Corporation (APA) Q2 2026 Earnings Call August 6, 2026 11:00 AM EDT
Company Participants
Stephane Aka - Managing Director of Investor Relations
John Christmann - CEO & Director
Ben Rodgers - Executive VP & CFO
Tracey Henderson - Executive Vice President of Exploration
Stephen Riney - President
Conference Call Participants
Douglas George Blyth Leggate - Wolfe Research, LLC
John Freeman - Raymond James & Associates, Inc., Research Division
Joshua Silverstein - UBS Investment Bank, Research Division
Arun Jayaram - JPMorgan Chase & Co, Research Division
Neal Dingmann - William Blair & Company L.L.C., Research Division
Christopher Baker - Evercore ISI Institutional Equities, Research Division
Bob Brackett - Bernstein Institutional Services LLC, Research Division
Leo Mariani - ROTH Capital Partners, LLC, Research Division
Presentation
Operator
Good day, and thank you for standing by. Welcome to APA Corporation's Second Quarter 2026 Financial and Operational Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand it over to your first speaker, Stephane Aka, Managing Director, Investor Relations.
Stephane Aka
Managing Director of Investor Relations
Good morning, and thank you for joining us on APA Corporation's Second Quarter 2026 Financial and Operational Results Conference Call. We will begin the call with an overview by CEO, John Christmann. Ben Rodgers, CFO, will share further color on our results and outlook. Steve Riney, President; and Tracey Henderson, Executive Vice President of Exploration, are also on the call and available to answer questions. We will start with prepared remarks and allocate the remainder of time to Q&A. In conjunction with yesterday's press release, I hope you have had the opportunity to review our financial and operational supplement, which can be found on our Investor Relations website at investor.apacorp.com.
Please note that we may discuss certain non-GAAP financial measures. A reconciliation of the differences between these measures
APA ve 2. čtvrtletí vykázala čistý zisk 747 milionů USD a volný peněžní tok 738 milionů USD. Zároveň zvýšila celoroční výhled produkce ropy v Permské pánvi na 123 000 barelů denně.
Why One Energy Expert Is Betting on These 3 Oil Stocks NowAPA NASDAQ: APA reported second-quarter 2026 net income of $747 million, or $2.11 per diluted share, as operational performance and cost-cutting initiatives supported free cash flow generation across its portfolio.
Adjusted net income was $669 million, or $1.89 per diluted share, excluding an after-tax unrealized gain of $92 million related to basis hedges and other smaller items, Chief Financial Officer Ben Rodgers said. The company generated $738 million of free cash flow during the quarter and returned $189 million to shareholders through dividends and share repurchases.
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3 Oil Stocks Rebounding Off Multi-Month LowsThrough the first half of 2026, APA generated more than $1.2 billion in free cash flow, Rodgers said. The company attributed the result to commodity prices as well as structural changes including lower costs, capital-efficiency gains and portfolio high-grading.
Cost-Savings Target Raised Chief Executive Officer John Christmann said APA now expects to exit 2026 with approximately $500 million in annualized run-rate savings, exceeding the $450 million target established at the start of the year. The company had previously captured $300 million in savings during 2025, according to Rodgers.
Rodgers said APA expects lease operating expense for the full year to total $1.5 billion, $25 million below prior guidance. Savings in the U.S. and North Sea are expected to more than offset inflation in diesel and certain service costs.
The company also expects annualized interest expense savings of about $175 million exiting 2026 as debt declines. Rodgers said the combined impact of controllable-spend reductions and lower interest expense would amount to roughly $675 million of costs lower than at the end of 2024.
Full-year 2026 free cash flow is expected to reach about $2.3 billion at current strip pricing. APA expects its gas trading portfolio, including basis hedges, to generate about $950 million of pretax cash flow in 2026. The company said changes in Waha pricing have limited effect on consolidated free cash flow because its unhedged transportation portfolio is closely matched with Permian equity gas production. Permian Guidance Rises as Rig Activity Falls APA raised its full-year Permian oil production outlook to 123,000 barrels per day while maintaining its $1.3 billion capital budget. Christmann said the company originally estimated that sustaining roughly 120,000 barrels per day following the Callon integration would require eight rigs and about $1.7 billion in capital.
APA now plans to operate four rigs for the rest of 2026. President Stephen Riney said the company began the year planning for five rigs and expects to average 4.5 rigs for the year. Those rigs are expected to drill more lateral footage and complete as many wells as the original five-rig plan, he said.
Christmann said improvements in drilling, completions and base-production management have reduced capital intensity. The company is also pursuing a target of $3.5 million per month in run-rate Permian operating-cost savings by year-end.
In Egypt, adjusted production was in line with guidance. Gross gas production increased during the quarter, and APA said about half of its gas production now benefits from the revised pricing agreement. The company maintained its overall BOE production outlook for Egypt but updated expectations for gross oil production to approximately 118,000 barrels per day and gross gas production to 535 million cubic feet per day.
Christmann said stronger results from recent rich-gas discoveries led APA to defer some lower-pressure gas volumes at Qasr. Higher associated liquids are expected to offset the resulting near-term gas impact, leaving the expected BOE production profile largely unchanged.
Debt Reduction and Shareholder Returns APA repaid $752 million of bond debt during the first six months of 2026, including $673 million during the second quarter. The company expects to end the year with net debt of approximately $3.3 billion and said it could reach its $3 billion net debt target in 2027 based on current strip pricing.
Rodgers said achieving that target would be ahead of the three- to four-year timeline discussed when APA announced it last year. The company reiterated its commitment to return at least 60% of free cash flow to shareholders annually through dividends and share buybacks.
“We’ve not returned that much in the first half of the year,” Rodgers said in response to an analyst question, adding that this implies “quite a bit of share buybacks” in the second half.
Christmann said APA intends to maintain the 60% return framework even as exploration spending rises from a comparatively light level in 2026. Rodgers said 2027 exploration spending could include two Alaska wells costing approximately $100 million to $120 million, one to two Suriname wells estimated at $50 million to $75 million each net to APA, and a Uruguay well where APA is expected to receive a substantial carry from partner Eni.
Exploration Portfolio Advances In Suriname, APA said the Gran Morgu development remains on budget and on schedule for first oil in mid-2028. Christmann said the project, operated with TotalEnergies, is expected to provide production and free-cash-flow growth while the joint-venture structure helps APA fund its domestic and international activities.
The company also said it will return to Block 58 in Suriname next year for additional exploration aimed at potentially adding to the Gran Morgu plateau or supporting more infrastructure.
APA recently agreed to acquire Savant Alaska, gaining infrastructure adjacent to its eastern North Slope acreage, including a processing facility, pipeline access to the Trans-Alaska Pipeline System, a gravel pad, airstrip and dock. Christmann said APA’s Alaska position now spans nearly 500,000 acres and includes the King Street and Sockeye discoveries.
The company plans to build ice roads late this year and spud two Alaska wells in 2027: an appraisal well at Sockeye called Hungry Horse and an exploration well targeting the larger Chinook prospect. Christmann said it remains too early to define development plans.
In Uruguay, APA brought Eni into Block OFF-6, retaining a 60% working interest. Eni will fund a significant portion of the initial exploration well, which APA expects to drill in late 2027. Executive Vice President of Exploration Tracey Henderson said the planned well will test deeper Cretaceous targets than the Raya well, which APA does not believe was drilled deeply enough to test its objectives.
About APA (NASDAQ:APA)APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.
In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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The upcoming report from APA (APA - Free Report) is expected to reveal quarterly earnings of $1.85 per share, indicating an increase of 112.6% compared to the year-ago period. Analysts forecast revenues of $2.43 billion, representing a decline of 6.8% year over year.
Over the last 30 days, there has been a downward revision of 21.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific APA metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Oil, natural gas, and natural gas liquids production revenues- Oil revenues' will reach $1.76 billion. The estimate suggests a change of +27.6% year over year.
Analysts forecast 'Oil, natural gas, and natural gas liquids production revenues' to reach $2.03 billion. The estimate points to a change of +18% from the year-ago quarter.
According to the collective judgment of analysts, 'Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues' should come in at $168.19 million. The estimate suggests a change of +9.9% year over year.
Analysts expect 'Oil, natural gas, and natural gas liquids production revenues- Natural gas revenues' to come in at $96.53 million. The estimate points to a change of -47.5% from the year-ago quarter.
It is projected by analysts that the 'Revenues- United States' will reach $1.20 billion. The estimate suggests a change of -12.8% year over year.
Analysts' assessment points toward 'Revenues- North Sea' reaching $191.08 million. The estimate indicates a change of +15.1% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Egypt' of $799.78 million. The estimate points to a change of +27% from the year-ago quarter.
The combined assessment of analysts suggests that 'Production volume per day - Total' will likely reach 408 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 465 thousands of barrels of oil equivalent per day in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Production volume per day - Oil - Total' should arrive at 213.61 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 235.24 thousands of barrels of oil.
The consensus estimate for 'Production volume per day - Natural gas - Total' stands at . The estimate is in contrast to the year-ago figure of .
The average prediction of analysts places 'Production volume per day - NGL - Total' at 69.33 thousands of barrels of oil. The estimate compares to the year-ago value of 80.82 thousands of barrels of oil.
The consensus among analysts is that 'Average price per barrel - NGL - Total' will reach $26.95 . The estimate compares to the year-ago value of $20.49 .
View all Key Company Metrics for APA here>>>
Over the past month, shares of APA have returned +13.6% versus the Zacks S&P 500 composite's +1.7% change. Currently, APA carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
APA Corp má 5. srpna zveřejnit výsledky za 2. čtvrtletí 2026; odhad EPS je 1,85 USD při výnosech 2,4 miliardy USD. Firma může čelit tlaku kvůli omezením těžby v Permianu a slabším objemům v Egyptě.
Key Takeaways APA is set to report Q2 2026 earnings on Aug. 5, with EPS estimated at $1.85 on revenues of $2.4 billion.APA may face production pressure from Permian gas curtailments and lower PSC accounting volumes in Egypt.APA's lower expected operating expenses could support earnings, but Earnings ESP is negative before results. APA Corporation (APA - Free Report) is set to release second-quarter 2026 results on Aug. 5. The bottom-line estimate for the to-be-reported quarter is pegged at $1.85 per share on revenues of $2.4 billion.
Let us delve into the factors that might have influenced this upstream operator’s results in the quarter to be reported. Before diving in, it is important to consider how APA performed in the last quarter.
Highlights of APA’s Q1 Earnings & Surprise HistoryIn the last reported quarter, the independent oil and gas explorer beat the consensus mark, driven by higher realized oil prices and lower year-over-year expenses. APA posted adjusted earnings per share (EPS) of $1.38, which beat the Zacks Consensus Estimate of $1.01. Moreover, revenues of $2.2 billion beat the Zacks Consensus Estimate by 4.8%. The company’s earnings have surpassed the Zacks Consensus Estimate in each of the last four quarters, resulting in an average surprise of 50.6%.
This is depicted in the graph below:
APA’s Trend in Estimate RevisionThe Zacks Consensus Estimate for second-quarter 2026 earnings has remained unchanged over the past seven days. The estimated figure indicates a 112.6% rise year over year. The Zacks Consensus Estimate for revenues implies a 6.8% year-over-year decline.
Factors to Consider Ahead of APA’s Q2 ReleaseAPA Corp is an independent energy company focused on the exploration and production of oil and natural gas. Its primary operations involve discovering, developing and extracting crude oil, natural gas and natural gas liquids. With a strong presence in the United States, Egypt and the North Sea, the company is also expanding its exploration activities in Suriname. APA earns revenues from the sale of hydrocarbon products, with its earnings closely linked to production volumes and fluctuating market prices for oil and gas.
APA's second-quarter results could face pressure from continued natural gas curtailments in the Permian due to weak Waha pricing, reducing U.S. barrels of oil equivalent volumes. Egypt's adjusted production is expected to decline sequentially because higher Brent prices affect PSC accounting volumes, while inflationary pressures on diesel and other operating costs persist. Rising decommissioning activity and management's cautious capital allocation stance may also weigh on near-term earnings performance.
APA Corp operates in regions like Egypt, which carry geopolitical risks. We expect any regional uncertainties or operational complexities to remain a potential overhang on production stability and investor sentiment. Our model predicts that the total daily production of the company in the second quarter will reduce by about 13% year over year.
APA’s revenues are likely to decline in the quarter to be reported. The Zacks Consensus Estimate for second-quarter revenues is expected to be lower than the year-ago figure of $2.6 billion.
On a bullish note, the decrease in APA’s costs might have improved its to-be-reported bottom line. We expect the company’s total expenses to reach $1.4 billion in the second quarter, down from $1.6 billion in the same quarter last year.
According to our model, the following expenses are expected to decrease year over year: Gathering, Processing, and Transmission, Purchased Oil and Gas Costs and Exploration expenses.
What Does Our Model Say About APA?Our proven model does not predict an earnings beat for APA Corp this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that’s not the case here.
Earnings ESP of APA: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -1.60%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
APA’s Zacks Rank: APA Corp currently carries a Zacks Rank #4 (Sell).
Stocks With the Favorable CombinationHere are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Targa Resources Corp. (TRGP - Free Report) currently has an Earnings ESP of +4.33% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 6. You can see the complete list of today’s Zacks #1 Rank stocks here.
Targa Resources is a premier energy infrastructure company that provides integrated midstream services in North America. Notably, the Zacks Consensus Estimate for Targa Resources’ 2026 earnings per share indicates 27.1% year-over-year growth. Valued at around $56.2 billion, TRGP’s shares have rallied 56.1% in a year.
Plains All American Pipeline, L.P. (PAA - Free Report) currently has an Earnings ESP of +6.71% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 7.
Plains All American is a master limited partnership involved in the transportation, storage, terminalling and marketing of crude oil, natural gas, natural gas liquids (NGL) and refined products in the U.S. Notably, the Zacks Consensus Estimate for Plains All American’s 2026 earnings per share indicates 0.65% year-over-year growth. Valued at around $17.24 billion, PAA’s shares have risen 32.9% in a year.
Calumet, Inc. (CLMT - Free Report) currently has an Earnings ESP of +169.57% and a Zacks Rank #2. The firm is scheduled to release earnings on Aug. 7.
Calumet manufactures, formulates and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Notably, the Zacks Consensus Estimate for Calumet’s 2026 revenues indicates 6.3% year-over-year growth. Valued at around $3.6 billion, CLMT’s shares have surged 158.2% in a year.
APA (APA - Free Report) closed the most recent trading day at $33.29, moving -5.05% from the previous trading session. This move lagged the S&P 500's daily gain of 0.81%. Elsewhere, the Dow saw an upswing of 0.27%, while the tech-heavy Nasdaq appreciated by 1.3%.
The oil and natural gas producer's stock has dropped by 7.74% in the past month, falling short of the Oils-Energy sector's loss of 3.61% and the S&P 500's gain of 1.13%.
The upcoming earnings release of APA will be of great interest to investors. The company's earnings report is expected on August 5, 2026. The company is expected to report EPS of $1.83, up 110.34% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.5 billion, down 4.36% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.29 per share and revenue of $9.09 billion. These totals would mark changes of +40.32% and -1.37%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for APA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.86% lower within the past month. APA currently has a Zacks Rank of #3 (Hold).
In terms of valuation, APA is presently being traded at a Forward P/E ratio of 6.63. This indicates a discount in contrast to its industry's Forward P/E of 9.61.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
APA zveřejnila předběžné výsledky za 2. čtvrtletí 2026 a oznámila konferenční hovor k výsledkům na 6. srpna 2026. V USA ve 2. čtvrtletí omezila těžbu plynu o 137 MMcf/d a produkci NGL o 12 300 barelů denně kvůli slabým nebo záporným cenám na Waha hub.
HOUSTON, July 08, 2026 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain second-quarter 2026 financial and operational results. This information is intended only to provide additional information regarding current estimates management believes will affect results for the second quarter of 2026. It is provided to assist investors, analysts and others in formulating their own estimates and is not intended to be a comprehensive presentation of all factors that will affect second-quarter 2026 results. Actual results and the impact of factors identified here may vary and are subject to finalization of the financial reporting process for the second quarter of 2026.
Estimated Average Realized Prices – 2Q26 Oil (bbl)NGL (bbl)Natural Gas (Mcf)United States$93.20$25.10($2.20)International$99.90$73.40$4.80 Egypt tax barrels:36 MBoe/dDry hole costs (before tax):$41 millionNet gain on oil and gas purchases and sales (before tax)*:$345 million *Includes $109 million realized loss from commodity derivatives
Production update
APA curtailed approximately 137 MMcf/d of U.S. natural gas production and 12,300 barrels per day of U.S. natural gas liquids production in the second quarter in response to weak or negative Waha hub prices.
Weighted-average shares outstanding
The estimated weighted-average basic common shares for the second quarter are 353 million. APA repurchased 2.8 million shares at an average price of $35.25 per share during the second quarter.
General and administrative
During the second quarter, APA incurred general and administrative expenses totaling $65 million. This includes approximately $10 million in stock-based compensation, reflecting the mark-to-market impacts of APA’s share price during the quarter.
Second-quarter 2026 earnings call
APA will host a conference call to discuss its second-quarter 2026 results at 10 a.m. Central time, Thursday, Aug. 6. The conference call will be webcast on APA’s website at www.apacorp.com and investor.apacorp.com. Following the conference call, a replay will be available for one year on the “Investors” page of the company’s website.
About APA
APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “goals,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depends on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in APA’s Form 10-K for the year ended December 31, 2025, and in our quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Akcie APA uzavřely na 33,03 USD s poklesem o 2,65 %, zatímco trh rostl. S&P 500 vzrostl o 1,09 %, Dow o 0,14 % a Nasdaq o 1,91 %. Očekává se, že společnost vykáže zisk 1,79 USD na akcii, což by znamenalo meziroční růst o 105,75 %.
APA (APA - Free Report) closed at $33.03 in the latest trading session, marking a -2.65% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.09%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Prior to today's trading, shares of the oil and natural gas producer had lost 13.71% lagged the Oils-Energy sector's loss of 7.57% and the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of APA in its upcoming release. On that day, APA is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 105.75%. Alongside, our most recent consensus estimate is anticipating revenue of $2.5 billion, indicating a 4.39% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.6 per share and a revenue of $9.29 billion, representing changes of +48.54% and +0.75%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.55% upward. APA is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 6.06. This expresses a discount compared to the average Forward P/E of 9.26 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 108, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Akcie APA vzrostly za poslední rok o téměř 63 %, což překonalo výkon společností Chord Energy a SM Energy, a to díky důvěře v provozní pokrok a budoucí projekty.
Key Takeaways APA shares are up nearly 63% in a year, outperforming Chord Energy and SM Energy.APA trades at about 7.3X forward earnings, below the subindustry's 9.5X multiple.Suriname's GranMorgu project could drive long-term growth, with first oil targeted for mid-2028. APA Corporation (APA - Free Report) has delivered a strong run, with its shares rising nearly 63% in the past year. The rally raises a fair question: is APA still attractive, or has the market already priced in most of the upside? The answer looks balanced. APA has stronger execution, a deep Permian base, improving costs and a major future catalyst in Suriname. At the same time, investors must consider commodity-price risk, Egypt exposure, debt and the long wait before Suriname contributes meaningfully. Compared with Chord Energy (CHRD - Free Report) , which is more focused on the Williston Basin, and SM Energy (SM - Free Report) , which is scaling its U.S. shale platform after the Civitas deal, APA offers a different mix of near-term cash flow and long-term offshore growth.
Price Performance Shows APA’s Strong Momentum
APA’s one-year gain easily tops Chord Energy, up 17.7%, and SM Energy, down 1.5%. The outperformance reflects improved confidence in APA’s operating progress, cash generation and future project pipeline. Still, a rally of this size raises the bar. CHRD has a simpler Williston-focused story built around steady production, long laterals and shareholder returns. SM is trying to improve scale, reduce debt and capture merger synergies. APA sits between these peers, with a large Permian position, international assets and a visible offshore catalyst.
1-Year Price Performance Comparison Image Source: Zacks Investment Research
Earnings Estimates and Valuation Remain Supportive
APA’s earnings picture is mixed. The Zacks Consensus Estimate for 2026 EPS indicates a 49% increase, supported by cost savings, better operating efficiency and cash flow from gas trading. However, the 2027 estimate points to a 36% decline, suggesting that analysts expect some normalization after a stronger 2026.
Image Source: Zacks Investment Research
Valuation, however, remains positive. APA trades at around 7.3 times forward earnings, below the subindustry’s 9.5X. That discount shows the market is still cautious about debt, geopolitical exposure and commodity sensitivity.
Suriname Could Be the Hidden Value Driver for APA
APA’s Suriname position may be the most important part of the long-term story. The GranMorgu development in offshore Block 58, being advanced with TotalEnergies, includes more than 750 million barrels of estimated recoverable resources tied to the Sapakara and Krabdagu discoveries. Production is expected through a floating production, storage and offloading unit with a capacity of 220,000 barrels per day, with first oil targeted for mid-2028. That gives APA a growth lever beyond its mature production base. Chord Energy does not have a comparable offshore project, while SM Energy is mainly focused on U.S. shale. For APA, GranMorgu could become a high-margin oil and free cash flow engine after 2028. The project is already approved, and a carry arrangement helps reduce APA’s near-term funding burden.
Image Source: APA Corporation
Operational Discipline Strengthens the Case
APA’s current business is anchored by the Permian and Egypt. The Permian accounts for most adjusted production and offers more than 10 years of economic inventory. Management has reduced drilling and completion costs in the Permian, lowered drilling costs in Egypt and continues to target meaningful run-rate savings by year-end 2026. The company is also working toward a $3 billion net debt target, while gas trading provides another source of cash flow. Chord Energy also emphasizes capital returns and balance sheet strength, while SM uses divestitures and synergies to improve leverage. APA’s advantage is that it combines operational discipline with a larger future project.
APA’s Risks Should Keep Expectations Realistic
APA remains exposed to oil and gas price swings. While oil prices have cooled somewhat following the U.S.-Iran deal, easing some of the geopolitical supply-risk premium, this could become a factor for APA going forward if crude prices remain under pressure. Weak Permian gas pricing, including Waha-related pressure, can also hurt realized prices and lead to curtailments. Egypt adds geopolitical and fiscal risk, while U.K. taxes remain a headwind. Suriname is promising, but first oil is not expected until mid-2028, so investors must wait for the biggest catalyst. APA also carries a broader and more complicated portfolio than CHRD and a different risk profile than SM Energy. If commodity prices fall further or GranMorgu faces delays, the stock could struggle after its strong one-year advance.
Conclusion
APA stock still looks reasonably attractive for investors seeking value, cash flow and long-term oil growth, but it is not an obvious buy after a significant rally. The valuation discount, ongoing cost reductions and Suriname upside support the investment case, while debt, commodity-price volatility, Egypt exposure, and the long lead time before Suriname contributes meaningfully, warrant some caution. Overall, the stock offers a balanced mix of opportunity and risk at the current levels. Given this risk-reward profile, APA stock is currently a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
