The upcoming report from APA (APA) 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 >>>> .
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