Apache (NYSE: APA ) is expected to report Q3 earnings on Nov. 1. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Apache's revenues will shrink -6.3% and EPS will drop -24.4%.
The average estimate for revenue is $4.05 billion. On the bottom line, the average EPS estimate is $2.23.
Last quarter, Apache booked revenue of $3.97 billion. GAAP reported sales were 8.4% lower than the prior-year quarter's $4.28 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at $2.07. GAAP EPS of $0.86 for Q2 were 73% lower than the prior-year quarter's $3.17 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 81.5%, 270 basis points worse than the prior-year quarter. Operating margin was 38.6%, 1,230 basis points worse than the prior-year quarter. Net margin was 9.1%, 2,030 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $16.91 billion. The average EPS estimate is $9.76.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,061 members out of 2,119 rating the stock outperform, and 58 members rating it underperform. Among 401 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 392 give Apache a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Apache is outperform, with an average price target of $122.79.
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