Apache (NYSE: APA) is expected to report Q2 earnings on Aug. 2. 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 revenue will shrink 2.4% and EPS will wither 19.3%.
The average estimate for revenue is $4.23 billion. On the bottom line, the average EPS estimate is $2.60.
Revenue details
Last quarter, Apache logged revenue of $4.54 billion. GAAP reported sales were 16% higher than the prior-year quarter's $3.88 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
Last quarter, non-GAAP EPS came in at $3.00. GAAP EPS of $2.00 for Q1 were 30% lower than the prior-year quarter's $2.86 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Recent performance
For the preceding quarter, gross margin was 84.5%, 130 basis points better than the prior-year quarter. Operating margin was 47.5%, 350 basis points worse than the prior-year quarter. Net margin was 17.8%, 1,140 basis points worse than the prior-year quarter.
Looking ahead
The full year's average estimate for revenue is $17.66 billion. The average EPS estimate is $10.86.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,055 members out of 2,111 rating the stock outperform, and 56 members rating it underperform. Among 400 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 389 give Apache a green thumbs-up, and 11 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 $131.34.
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