APA CORPORATION Reports Fourth Quarter Results for FY2022 on February 23, 2023.
March 3, 2023
Earnings report
APA CORPORATION ($NASDAQ:APA) reported their financial results for the fourth quarter of FY2022, ending December 31 2022, on February 23 2023. The total revenue for the quarter was USD 443.0 million, a decrease of 5.9% from the same period last year. This decrease was attributed to a decrease in sales from international markets and a slight decline in domestic market sales. Despite this, APA CORPORATION reported an increase in net income for the quarter, rising 7.5% to USD 2472.0 million from the year prior.
This increase was driven primarily by cost reductions and an improved gross margin which helped to offset lower revenue. Overall, the company’s financial results for the fourth quarter of FY2022 demonstrate both stability in the domestic market and potential for growth on an international scale. With strong financial performance and ongoing investment in areas such as research and development, APA CORPORATION is well-positioned to capitalize on its success in the coming years.
Stock Price
On Thursday, the stock opened at $39.9 and ultimately closed at $39.1, indicating an increase of 3.3% from the closing price of $37.9 in the previous trading session. This marked a successful trading session for the company and investors were pleased with the performance of the company’s stock. The company’s stock price has shown impressive growth over the past few quarters and this latest performance further solidifies the future of the company and its financial goals. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Apa Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 11.07k | 3.67k | 27.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Apa Corporation. More…
| Operations | Investing | Financing |
| 4.94k | -1.51k | -3.49k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Apa Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.15k | 11.8k | 1.85 |
Key Ratios Snapshot
Some of the financial key ratios for Apa Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.6% | 133.7% | 54.6% |
| FCF Margin | ROE | ROA |
| 23.0% | 739.0% | 28.8% |
Analysis
GoodWhale has conducted an analysis of APA CORPORATION‘s wellbeing and performance. Based on our Star Chart rating system, APA CORPORATION is strong in dividend and growth, medium in profitability, and weak in asset. We have classified APA CORPORATION as a ‘gorilla’, a type of company that achieves stable and high earnings or revenue growth due to its competitive advantage. We believe that APA CORPORATION would be an attractive option for investors looking for stable, long-term returns, as well as those seeking capital gains. Furthermore, with an intermediate health score of 6/10 considering its cashflows and debt, APA CORPORATION may be able to sustain future operations in times of crisis. More…
Peers
The company has operations in the United States, Canada, and Australia. Pioneer Natural Resources Co, Continental Resources Inc, Hess Corp are some of APA Corp’s main competitors in the oil and gas industry.
– Pioneer Natural Resources Co ($NYSE:PXD)
Pioneer Natural Resources Co is an American oil and gas exploration and production company with operations in the United States, Canada, and Trinidad and Tobago. The company has a market capitalization of $59.39 billion and a return on equity of 24.61%. Pioneer Natural Resources is engaged in the exploration, development, and production of oil and gas properties. The company was founded in 1997 and is headquartered in Irving, Texas.
– Continental Resources Inc ($NYSE:CLR)
Continental Resources Inc is an American petroleum and natural gas exploration and production company with operations in the Bakken formation of North Dakota, Montana, and southern Saskatchewan. The company has a market cap of 26.94B as of 2022 and a Return on Equity of 32.98%. Continental Resources is one of the largest crude oil producers in the United States and is one of the leading operators in the Bakken formation.
– Hess Corp ($NYSE:HES)
Hess Corporation is an American multinational oil and gas company with operations in the United States, Canada, the North Sea, South America, and Africa. The company is headquartered in New York City and has been in operation since 1933. Hess is one of the largest independent oil and gas companies in the world with a market capitalization of $44.39 billion as of 2022. The company’s return on equity is 31.73%.
Hess Corporation is engaged in the exploration, production, purchase, transportation, and sale of crude oil and natural gas. The company also refines, markets, and supplies petroleum products. Hess operates through two segments: Upstream and Downstream. The Upstream segment explores for, develops, produces, transports, and sells crude oil and natural gas. The Downstream segment refines crude oil into finished petroleum products; markets and supplies refined products; and engages in trading operations.
Summary
Net income, however, rose 7.5% to USD 2472.0 million. As a result, the company’s stock price moved up on the day. This shows that while the company’s revenue has decreased compared to the same period last year, their net income increased and the market reacted positively to this news. Investors may take this as a sign of APA Corp’s good financial health and their ability to generate profits in tough economic times.
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