HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported a third-quarter loss of $223 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 60 cents. Earnings, adjusted for non-recurring costs, came to $1 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The oil and natural gas producer posted revenue of $2.54 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $2.27 billion.
APA shares have decreased 31% since the beginning of the year, while the S&P’s 500 index has risen 24%. In the final minutes of trading on Wednesday, shares hit $24.73, a fall of 37% 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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