Apache (NYSE: APA) is expected to report Q2 earnings on Aug. 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 expand 8.0% and EPS will compress -2.4%.

The average estimate for revenue is $4.29 billion. On the bottom line, the average EPS estimate is $2.02.

Revenue details
Last quarter, Apache logged revenue of $4.08 billion. GAAP reported sales were 10% lower than the prior-year quarter's $4.48 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 $2.02. GAAP EPS of $1.76 for Q1 were 12% lower than the prior-year quarter's $2.00 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 80.3%, 420 basis points worse than the prior-year quarter. Operating margin was 35.7%, much worse than the prior-year quarter. Net margin was 17.8%, much about the same as the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $17.06 billion. The average EPS estimate is $8.26.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,120 members out of 2,179 rating the stock outperform, and 59 members rating it underperform. Among 392 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 382 give Apache a green thumbs-up, and 10 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 $100.56.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.