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Will Apache’s 2Q16 Earnings and Revenues Beat Estimates?

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Dec. 4 2020, Updated 10:52 a.m. ET

Upcoming 2Q16 earnings release

Apache (APA) is expected to release its 2Q16 earnings on August 4, 2016.

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Apache’s 2Q16 revenue estimate

Apache’s 2Q16 revenue estimates are higher than the previous two quarters. For 2Q16, its revenue estimate is ~$1.3 billion. That’s ~33% lower than its 2Q15 revenue but ~26% higher than its 1Q16 revenue.

The higher estimate is likely due to improving crude oil prices (USO) since the beginning of this year. That could result in higher realized prices for Apache in 2Q16.

However, the above graph shows that Apache’s revenues have missed estimates in the previous three quarters. Investors will watch to see how things pan out for the upstream company in 2Q16.

Apache’s 2Q16 EPS estimates

Apache’s 2Q16 EPS (earnings per share) estimate is -$0.17. Its 1Q16 loss per share was $0.4. The corresponding quarter’s EPS in 2015 was $0.22.

Apache’s peers Cimarex Energy (XEC) and Newfield Exploration (NFX) are expected to report EPS of -$0.01 and $0.13, respectively, in 2Q16. All these companies make up 6.1% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

Apache’s 2015 revenue and earnings recap

For 2015, Apache reported adjusted EPS of -$0.34. Its comparable EPS in 2014 was $5.90. Its 2015 revenue came in at ~$6.4 billion, and its revenue in 2014 was ~$14 billion.

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