HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported first-quarter earnings of $132 million.
On a per-share basis, the Houston-based company said it had net income of 44 cents. Earnings, adjusted for non-recurring costs, were 78 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The oil and natural gas producer posted revenue of $1.9 billion in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $1.87 billion.
APA shares have declined 15% since the beginning of the year, while the S&P’s 500 index has increased 5%. In the final minutes of trading on Wednesday, shares hit $30.51, a decrease of 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APA at https://www.zacks.com/ap/APA
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