Apache: 3Q Earnings Snapshot
HOUSTON (AP) _ Apache Corp. (APA) on Wednesday reported a third-quarter loss of $170 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of 45 cents per share. Losses, adjusted for non-recurring costs, were 29 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
Apache shares have fallen 19% since the beginning of the year, while the Standard & Poor’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $21.39, a decline of 43% in the last 12 months.