HOUSTON (AP) — HOUSTON (AP) — APA Corporation (APA) on Wednesday reported first-quarter earnings of $446 million.
On a per-share basis, the Houston-based company said it had profit of $1.26. Earnings, adjusted for non-recurring costs, came to $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The oil and natural gas producer posted revenue of $2.22 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.11 billion.
APA shares have risen 56% since the beginning of the year, while the S&P's 500 index has climbed almost 8%. In the final minutes of trading on Wednesday, shares hit $38.28, more than doubling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APA at https://www.zacks.com/ap/APA
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