NASDAQ$APA
APA Corporation · Q2 2024 earnings
Q2 2024 earnings · · After market close · Investor relations
Briefing
APA Corporation reported Q2 2024 results with net income attributable to common stock of $541 million.
APA reported total revenues of $2.543 billion for the quarter ended June 30, 2024, driven by higher production from the Callon acquisition and improved realized prices. Net income attributable to common stock reached $541 million, or $1.46 per diluted share. The company completed the Callon acquisition on April 1, 2024, adding significant Permian Basin assets.
- Total revenues increased to $2.543 billion, up from $1.796 billion in Q2 2023, primarily due to the Callon acquisition and higher oil prices.
- U.S. production rose 43% year-over-year to 303,416 boe/d following the Callon acquisition and increased drilling activity.
- Net income attributable to common stock was $541 million, supported by $276 million in gains on non-core asset divestitures.
- The company repurchased 1.5 million shares during the quarter and maintained its $0.25 per share quarterly dividend.
Headline financials
Revenue & EPS history
APA · Revenue · Quarterly
$2.54B
Revenue by segment
APA · $2.54B total across 4 segments · Q2 2024
- Oil$1.91B—75.0%
- Purchased Oil and Gas$342M—13.4%
- Natural Gas Liquids$159M—6.3%
- Natural Gas$135M—5.3%
Forward guidance
The company continues to focus on integrating the Callon acquisition and maintaining capital discipline.
Tailwinds
- Increased Permian Basin inventory from Callon acquisition
- Strong divestiture gains from non-core assets
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-0.3%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+3.8%
Avg return
30 days after
47%
30 / 64 earnings
Positive
+20.2%
Q2 2020
Best reaction
-14.6%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2024 | — | — | — | |
| Q1 2026 | -7.7% | -11.5% | -11.8% | |
| Q4 2025 | +0.0% | +14.4% | +59.4% | |
| Q3 2025 | +9.1% | +13.5% | +25.1% | |
| Q2 2025 | +8.0% | +13.2% | +26.0% | |
| Q1 2025 | +4.5% | +19.3% | +19.5% | |
| Q4 2024 | -7.2% | -15.6% | -5.0% | |
| Q3 2024 | -7.0% | -5.9% | -9.1% | |
| Q1 2024 | -7.2% | -4.8% | -2.9% | |
| Q4 2023 | -2.5% | -4.4% | +8.0% | |
| Q3 2023 | -0.1% | -1.1% | -8.9% | |
| Q2 2023 | +3.5% | +4.8% | +12.0% | |
| Q1 2023 | -6.1% | -3.7% | -2.0% | |
| Q4 2022 | +2.8% | +3.1% | -9.3% | |
| Q3 2022 | +3.3% | +8.1% | +2.9% | |
| Q2 2022 | -14.6% | -10.4% | +8.0% | |
| Q1 2022 | -2.9% | -11.7% | +13.6% | |
| Q4 2021 | -3.5% | +4.7% | +26.6% | |
| Q3 2021 | +6.6% | +12.3% | -6.3% | |
| Q2 2021 | -3.8% | -4.6% | +4.7% | |
| Q1 2021 | +6.2% | +8.5% | +16.1% | |
| Q4 2020 | +1.9% | -1.2% | -4.9% | |
| Q3 2020 | +2.7% | +11.7% | +73.9% | |
| Q2 2020 | +20.2% | +18.0% | +13.0% | |
| Q1 2020 | +0.8% | +2.1% | +36.4% | |
| Q4 2019 | -1.7% | +0.1% | -80.9% | |
| Q3 2019 | -1.8% | +11.2% | +1.0% | |
| Q2 2019 | +0.1% | -3.5% | -10.5% | |
| Q1 2019 | -9.5% | -6.5% | -20.8% | |
| Q4 2018 | +0.3% | +1.8% | +4.7% | |
| Q3 2018 | -2.8% | +0.3% | -6.2% | |
| Q2 2018 | -3.5% | -0.8% | -4.7% | |
| Q1 2018 | -4.7% | -2.4% | -3.7% | |
| Q4 2017 | -2.9% | -6.5% | -0.5% | |
| Q3 2017 | +1.2% | +7.0% | +4.7% | |
| Q2 2017 | -5.6% | -7.9% | -17.6% | |
| Q1 2017 | +1.0% | +3.4% | -3.7% | |
| Q4 2016 | -2.7% | -4.2% | -8.5% | |
| Q3 2016 | -5.6% | -4.3% | +9.5% | |
| Q2 2016 | -4.0% | -2.9% | -0.9% | |
| Q1 2016 | +6.1% | — | — | |
| Q4 2015 | +2.3% | — | — | |
| Q3 2015 | -3.5% | — | — | |
| Q2 2015 | +3.8% | — | — | |
| Q1 2015 | -2.7% | — | — | |
| Q4 2014 | +3.6% | — | — | |
| Q3 2014 | +1.3% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q1 2013 | +7.2% | — | — | |
| Q4 2012 | -2.1% | — | — | |
| Q3 2012 | -4.7% | — | — | |
| Q2 2012 | +2.7% | — | — | |
| Q1 2012 | -0.8% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q2 2011 | -4.3% | — | — | |
| Q1 2011 | +3.0% | — | — | |
| Q4 2010 | -2.2% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q2 2010 | -1.4% | — | — | |
| Q1 2010 | +2.4% | — | — |
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