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Apache Reported Upbeat 4Q17 Revenues and Earnings

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

4Q17 and fiscal 2017 revenue

On February 22, 2018, Apache (APA) reported its 4Q17 and fiscal 2017 earnings. Apache reported revenues of ~$1.58 billion in 4Q17—higher than analysts’ consensus estimates of ~$1.55 billion.

In comparison, Apache’s 4Q16 revenues were ~$1.45 billion. Apache’s revenues in fiscal 2017 were $6.42 billion—compared to $5.35 billion reported in fiscal 2016.

Apache’s higher revenues were mainly due to higher oil revenues and natural gas liquids revenues in 4Q17 and fiscal 2017. The oil revenues in 4Q17 were ~$1.31 billion compared to $1.11 billion in 4Q16—an increase of 17%. In fiscal 2017, the oil revenues were ~$4.6 billion compared to $4.17 billion reported in fiscal 2016—an increase of 10.2%. The natural gas liquids revenues in 4Q17 were $101 million—48.5% higher than revenues of $68 million in 4Q16. In fiscal 2017, Apache’s natural gas liquids revenues were $330 million—approximately 44.7% higher than revenues of $228 million in fiscal 2016.

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4Q17 and fiscal 2017 EPS

In 4Q17, Apache reported an adjusted EPS (earnings per share) of $0.33—compared to an estimate of $0.22. In 4Q16, Apache reported an EPS of -$0.06. In fiscal 2017, the company reported an EPS of $0.24—compared to -$1.13 in fiscal 2016.

Apart from higher revenue, Apache’s earnings were also impacted by lower operating expenses. In 4Q17 and fiscal 2017, Apache’s operating expenses were ~$1.31 billion and $5.5 billion, respectively—compared to $1.56 billion and ~$7.04 billion reported in 4Q16 and fiscal 2016, respectively.

Peer comparison

Apache’s peers Anadarko Petroleum (APC) and Whiting Petroleum (WLL) announced 4Q17 EPS of -$0.17 and $0.18—compared to 4Q16 earnings of -$0.28 and -$0.50, respectively. To learn more about their 4Q17 performance, read Anadarko Petroleum Stock and Its Reaction after 4Q17 Earnings and Why Whiting Petroleum Stock Rose after Its 4Q17 Earnings.

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