AP NEWS

Apache: 4Q Earnings Snapshot

February 26, 2020 GMT

HOUSTON (AP) _ Apache Corp. (APA) on Wednesday reported a loss of $2.98 billion in its fourth quarter.

The Houston-based company said it had a loss of $7.89 per share. Earnings, adjusted for non-recurring costs, were 8 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The oil and natural gas producer posted revenue of $1.7 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.61 billion.

For the year, the company reported a loss of $3.55 billion, or $9.43 per share, swinging to a loss in the period. Revenue was reported as $6.41 billion.

Apache shares have decreased 4.5% since the beginning of the year, while the Standard & Poor’s 500 index has declined 3.5%. In the final minutes of trading on Wednesday, shares hit $24.44, a decline of 26% 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