Quarterly ResultAug 5, 2026, 04:38 PM
APA Corp Q2 Net Income $747M, EPS $2.11; Exceeds Production Guidance
AI Summary
APA Corporation announced strong second-quarter 2026 financial and operational results, reporting net income of $747 million, or $2.11 per diluted share. The company exceeded production guidance with adjusted production of 347,000 BOE per day and U.S. oil production of 123,500 barrels per day. APA generated $738 million in free cash flow, repaid $752 million in debt during the first half of the year, and raised its full-year U.S. oil production guidance and cost savings target. Strategic advancements include the pending Savant acquisition in Alaska and a new partnership with Eni S.p.A in Uruguay.
Key Highlights
- Net income attributable to common stock was $747 million, or $2.11 per diluted share.
- Adjusted production was 347,000 BOE per day, exceeding guidance.
- U.S. oil production reached 123,500 barrels per day, 2,500 bbl/day above guidance.
- Generated $738 million in free cash flow and returned $189 million to shareholders.
- Repaid $752 million of near-term bond debt in H1 2026, reducing total debt by $2.3 billion since year-end 2024.
- Raised full-year U.S. oil production guidance to 123,000 bbl/day while maintaining U.S. capital.
- Increased expected 2026 exit run-rate cost savings target to $500 million from $450 million.
- Advanced exploration portfolio with pending Savant acquisition in Alaska and a new partnership with Eni in Uruguay.
Price Impact
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