What is Apa's latest dividend and current dividend yield?

What is the market's earnings forecast for Apa next quarter?

What guidance did Apa's management provide for the next earnings period?

What were the key takeaways from Apa's earnings call?

What does Apa do and what are its main business segments?

What were the key takeaways from Apa’s earnings call?

What is Apa's gross profit margin?

What is the revenue and EPS growth rate for Apa year over year?

- **Record Free Cash Flow**: $1B+ in 2025, returning 63% to shareholders. Net debt reduced to $4B, targeting $3B by 2027.
- **Cost Leadership**: $450M annualized cost savings (2 years ahead of schedule), LOE efficiency projects reducing costs $3M+/month.
- **Permian Inventory Strength**: 1,700 economic locations with 10%+ returns, 1,700+ technical upside in shallow gas zones.
- **Growth Drivers**: Egypt gas volumes +15-20%/year, Suriname first oil 2026, Alaska exploration wells Q1 2027.

**【CEO Summary Section】**
- **2025 Performance Highlights**: Generated $1 billion+ free cash flow, reduced net debt to $4 billion, and achieved $450 million annualized cost savings (2 years ahead of schedule). Permian oil production exceeded guidance, Egypt gas volumes grew 15%, and Suriname GranMorgu development on track for first oil in mid-2026.
- **2026 Outlook**: Flat Permian oil production (~120,000 bbl/day) with $1.3 billion capital spend, Egypt gas volumes to grow 15-20%, and $230 million Suriname development spend. Total capital budget $2.1 billion, 10% lower than 2025.
- **Strategic Focus**: Sustain operational excellence, further reduce costs, strengthen balance sheet, and invest in high-impact exploration (Alaska, Suriname, Egypt gas).

**【President (Steve Riney) - Permian Inventory】**
- **Economic Inventory**: 1,700 gross locations with >10% rate of return, incorporating current cost structure ($595/Midland, $750/Delaware/lateral foot). Includes all-in costs (drilling, completions, facilities).
- **Technical Upside**: 1,700+ locations in shallow Delaware (Avalon/First Bone Springs) and Midland Barnett. 4-well spacing test in First Bone Springs expected to validate 1 year of drilling inventory at $41 WTI breakeven.
- **Long-Term Vision**: 10+ years of 120,000 bbl/day oil production, with potential to extend through exploration success in deeper zones.

**【CFO (Ben Rodgers) - Financial Performance】**
- **Q4 2025 Results**: GAAP net income $279M, free cash flow $425M, returning 63% to shareholders ($640M annualized). Proved reserves +9% YoY to 1.05B BOE, reserve replacement ratio 160%.
- **Cost Efficiency**: Controllable spend reduced $300M in 2025, targeting another $200M in 2026 (total $450M run rate). LOE savings offset by market headwinds, 2026 LOE ~flat YoY.
- **Balance Sheet**: Net debt $3.95B (down $1.4B YoY), targeting $3B by end-2027. Interest expense down $80M YoY. Free cash flow to shareholders >60% of FCF.

**【Q&A Key Highlights】**
- **Permian Capital Allocation**: $100M LOE efficiency projects (6-24mo payback) to reduce LOE $3-3.5M/month. 4-well spacing test in First Bone Springs to validate shallow gas inventory.
- **Exploration Progress**: Alaska ice roads starting Q4 2026, 2 wells planned Q1 2027. Suriname Block 58 exploration well late 2026. Egypt gas exploration targeting 40% of technical upside in Western Desert.
- **Egypt Gas Strategy**: 7.5M acres with new pricing framework, 500MMcf/day production growing 15-20%/year. Withdrawing from non-core 100M-acre concession to focus on high-margin gas.
- **Balance Sheet Management**: $280M decommissioning spend (40% tax benefit), targeting $3B net debt by end-2027. Trading portfolio to generate $650M pretax income in 2026.

APA Corporation (APA) Q4 2025 Earnings Call Transcript

- **Cost Savings Ahead of Schedule**: $300M in 2025 savings vs. $60M target, with $50M-$100M additional savings by end-2026.
- **Egypt Gas Growth**: 2026 gas production growth offsetting $60M in legacy cost recovery decline, with new contract economics equivalent to $75-$80/bbl Brent oil.
- **Permian Flexibility**: 5-rig program supports 120,000 bbl/day oil production, with option to drop to 4 rigs if oil prices fall below $50/bbl.
- **Balance Sheet Strength**: $475M cash, $339M free cash flow in Q3, and ~$0 U.S. cash taxes in 2025-2026.

**【CEO Summary Section】**
- **Operational Excellence**: Exceeded production guidance across all regions (Permian, Egypt, North Sea, Suriname), with Permian oil production above expectations and Egypt gas volumes growing sequentially.
- **Cost Savings Acceleration**: Achieved $300M in annualized savings this year, 2 years ahead of the original 2027 target. Targeting an additional $50M-$100M in run-rate savings by end-2026 through G&A, LOE, and capital efficiency.
- **Strategic Flexibility**: 2026 capital plan allows for 120,000 bbl/day Permian oil production with 5 rigs, while maintaining flexibility to reduce activity if oil prices fall below $50-$60/bbl. Egypt gas program on track to grow gross BOEs year-over-year.
- **Suriname Progress**: GranMorgu first oil remains on track for mid-2028, with development capital of ~$250M in 2026.

**【CFO Financial Commentary】**
- **Financial Performance**: Q3 2025 GAAP net income of $205M, adjusted net income of $332M, and free cash flow of $339M. Reduced net debt by $430M, ending the quarter with $475M in cash.
- **Cost Control**: LOE below guidance due to North Sea efficiency, G&A ~$15M below guidance. U.S. tax savings of ~$75M year-to-date due to new corporate alternative minimum tax guidelines.
- **Egypt Receivables**: Nearly eliminated past-due receivables, with $148M in payments received in Q3. Modernized contract terms reduce cash flow impact of legacy cost recovery by ~70% in 2026.
- **ARO Management**: Proactive decommissioning in the North Sea reduced after-tax spend by $55M in 2026, with 40% tax benefit on decommissioning costs.

**【Q&A Highlights】**
- **Permian Flexibility**: 5-rig program supports 120,000 bbl/day oil production, with ability to drop to 4 rigs if oil prices fall below $50/bbl. Delaware Basin breakeven ~$50/bbl, Midland ~$30/bbl.
- **Egypt Gas Pricing**: New contract terms allow gas development economics equivalent to $75-$80/bbl Brent oil, with minimal infrastructure costs. 2026 gas production growth offsetting ~$60M in lost legacy cost recovery cash flow.
- **Exploration Outlook**: Minimal 2026 exploration spend (~$65M), with focus on Suriname and Western Desert gas. Alaska Sockeye appraisal expected in 2026, with potential for ice road construction in late 2026/early 2027.
- **Tax Efficiency**: U.S. cash taxes expected to be ~$0 in 2025 and 2026, with ongoing benefits from OBBB and bonus depreciation rules.

APA Corporation (APA) Q3 2025 Earnings Call Transcript

- **Operational Strength**: Permian oil production flat with 6 rigs, Egypt gas volumes up 20% YoY. 
- **Cost Transformation**: $200M+ savings in 2025, $350M run rate by 2026. 
- **Strategic Growth**: 2M Egypt acreage expansion, Suriname FPSO on track, Alaska discovery validates resource potential. 
- **Financial Discipline**: $850M debt reduction Q2, 60% free cash flow to shareholders. 
- **Tax Efficiency**: U.S. tax cuts lower 2025 expense, U.K. tax decline post-2026.

**【CEO Summary Section】**
- **Operational Excellence**: Q2 production exceeded guidance across Permian, Egypt, and North Sea. Permian oil production achieved flat output with 6 drilling rigs, down from 8 previously. Egypt gas volumes and price realizations improved, driving BOE growth. 
- **Cost Reduction Momentum**: Captured $200M in 2025 savings (vs. $130M prior target), on track for $300M annual run rate by year-end. Projected to reach $350M run rate in 2026 (vs. 2027 original timeline). 
- **Strategic Initiatives**: 
  - Secured 2M net acres in Egypt Western Desert, expanding oil/gas prospects. 
  - Suriname GranMorgu FPSO manufacturing underway, targeting first oil mid-2028. 
  - Alaska Sockeye-2 discovery validated rock quality; reprocessing 3D seismic for 2026-27 appraisal. 
  - Reduced net debt by $850M Q2, returning $140M to shareholders via dividends/buybacks. 

**【CFO Financial Commentary】**
- **Q2 Financials**: GAAP net income $603M ($1.67 EPS), adjusted net income $313M ($0.87 EPS). Free cash flow $134M, fully returned to shareholders. 
- **Debt Target**: Establishing long-term net debt target of $3B, reflecting confidence in cash flow durability. 
- **Tax Benefits**: U.S. bonus depreciation and intangible drilling cost deductions will lower 2025 tax expense. U.K. tax expense expected to decline post-2026 due to lower oil field profitability. 
- **Cost Savings**: 
  - LOE down in Egypt (diesel reduction, power projects) and North Sea (vendor streamlining). 
  - G&A savings from organizational simplification. 
  - Capital efficiency gains (Permian D&C costs among lowest in Midland Basin). 

**【Q&A Key Highlights】**
- **Debt Reduction Timeline**: Target $3B net debt achievable in 3-5 years, depending on oil prices. Free cash flow allocation: 60% to shareholders, 40% to debt reduction. 
- **Egypt Capital Allocation**: Gas program expansion (1/3 of activity) driving BOE growth. 2025 gas volumes and price realizations higher than initial guidance. 
- **Permian Inventory**: Core development inventory extends into 2030s+. 2026 capital run rate ~$1.2B (annualized Q2-Q4 2025 spend). 
- **Suriname Progress**: Total E&P executing FPSO manufacturing at attractive rates. No change to first oil timeline. 
- **Alaska Exploration**: Sockeye-2 discovery validates prospectivity; seismic reprocessing to prioritize 2026-27 appraisal. 
- **North Sea Tax Outlook**: U.K. taxable income expected to decline post-2026 as fields mature. ARO spend to increase steadily through 2030s. 
- **Egypt Free Cash Flow**: Gas price improvements and cost savings driving >2025 growth in BOE and free cash flow. 2025 gas volumes and price realizations higher than initial guidance.

APA (APA)-7 Aug 25-2025 Q2 Earnings call transcript

- **Cost Savings Acceleration**: 2025 in-year savings target doubled to $130M, with $225M annualized run rate by year-end, driven by Permian well cost reductions ($800k/well) and overhead streamlining.
- **Permian Efficiency**: 6.5 rigs now hold flat oil volumes, targeting 6 rigs by Q2, enabling 33% rig reduction while maintaining production.
- **Egypt Gas Dominance**: 1/3 rigs shifted to gas, Q4 2025 gas volumes to reach 500 MMcf/d with $3.80/Mcf pricing, making gas drilling economically competitive with oil.
- **Leverage Reduction**: $608M asset sale proceeds to reduce debt, exiting New Mexico Permian to focus on Texas core assets.
- **Free Cash Flow Resilience**: Cost reductions and capital efficiency protect free cash flow in volatile oil price environment, with Suriname first oil in 2028 enabling long-term growth.

**【CEO Summary Section】**
- **Revenue Growth and Cost Savings**: Adjusted 2025 cost savings targets increased to $130 million in-year and $225 million annualized run rate, driven by Permian drilling efficiencies ($800k/well savings) and overhead reductions. Permian oil volumes held flat at 125-127k bbl/day with 6.5 rigs, targeting 6 rigs by Q2.
- **Egypt Gas Focus**: Shifted 1/3 of rigs to gas, Q4 2025 gas volumes expected at 500 MMcf/d with realized prices rising to $3.80/Mcf. New gas pricing agreement aligns oil and gas economics at mid-cycle Brent.
- **Asset Sale**: Sold New Mexico Permian assets for $608M, contributing <5% of Permian oil production. Proceeds to reduce debt, exiting New Mexico to focus on Texas.
- **Free Cash Flow Protection**: Cost reductions and capital efficiency safeguard free cash flow in volatile oil price environment, with Suriname first oil in 2028 enabling long-term growth.

**【CFO Financial Commentary】**
- **Q1 2025 Results**: GAAP net income $347M ($0.96 EPS), adjusted net income $385M ($1.06 EPS). Egypt free cash flow $126M, lowest past due receivables since Q4 2022.
- **Capital Efficiency**: Upstream capital $150M below guidance due to Permian drilling improvements. 2025 guidance updated to reflect $130M in-year savings vs. prior $60M target.
- **Gas Marketing Profitability**: Basis swaps lock in $450M of 2025 marketing income, guiding to $575M total. US gas sales benefit from Waha differential arbitrage.
- **Egypt Gas Growth**: Q1 gas production exceeded guidance, Q4 2025 gas price $3.80/Mcf vs. prior $3.40-3.50 range. Gas-focused development now economically competitive with oil drilling.

**【Q&A Key Highlights】**
- **Cost Savings Momentum**: CEO confirms 2025 savings targets will be raised beyond current $225M run rate as Permian efficiencies exceed expectations. LOE savings delayed but expected to materialize 2026+.
- **Permian Rig Cadence**: 8 rigs → 6.5 rigs (Q2) → 6 rigs (by year-end), demonstrating ability to hold flat oil volumes with 33% rig reduction.
- **Egypt Strategy**: Gas drilling prioritized with 1/3 rigs allocated, balancing oil cost recovery mechanism with gas price upside. Gross oil volumes expected slight decline but offset by condensate from gas wells.
- **Alpine High Economics**: Drilling in Alpine High contingent on Waha pricing, with current volatility leading to curtailments. Gas marketing profits independent of drilling decisions.
- **Leverage Reduction**: Asset sale proceeds to reduce debt, with revolver balance targeted for paydown. Opportunistic debt buybacks considered at 25% discount to par.


APA (APA)-8 May 25-2025 Q1 Earnings call transcript

- **Core Asset Growth**: Permian Basin at 75% of production, Egypt gas program on par with oil, Suriname 220k bpd project on track for 2028 first oil. 
- **Cost Efficiency**: $350M annual savings by 2027 ($35M already captured), 20% lower Permian LOE, 20%+ capital budget reduction. 
- **Free Cash Flow Expansion**: $841M in 2024 (71% returned), targeting $350M+ annual growth through cost cuts and 2028 Suriname ramp. 
- **Financial Strength**: BBB- rating, near pre-Callon debt levels, $600M gas trading profit expected in 2025. 
- **Shareholder Returns**: 60%+ free cash flow return ratio, $353M dividends in 2024, buybacks at $22/share in Q4.

**【CEO Summary Section】**
- **2024 Strategic Progress**: Achieved portfolio transformation with Permian Basin as cornerstone (75% of adjusted production), Egypt operational efficiency improvements, and Suriname FID for 220,000 bpd project. 
- **Permian Growth**: 8-rig program in 2025 with capital budget reduction of 20% YoY, targeting flat production of 125-127k bpd driven by Callon synergies (breakeven $61/bbl vs Callon's $78/bbl in 2023). 
- **Egypt Gas Revival**: 12-rig program with gas production growth for first time in 10+ years, gas price parity with oil under new agreement. 
- **Cost Reduction Initiative**: $350M annualized savings by 2027 through overhead reduction (already $35M captured), capital efficiency, and LOE optimization. 
- **Capital Returns**: 71% free cash flow returned to shareholders in 2024 ($353M dividends, $246M buybacks), with plans to continue 60%+ return ratio.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: $420M free cash flow, $290M adjusted net income. Full year free cash flow $841M with 71% returned to shareholders. 
- **Cost Management**: 2025 G&A expense reduction of $25M+, 20% lower LOE/BOE in Permian. 
- **Gas Trading Profit**: $600M expected for 2025 (Cheniere contract $200M, pipeline arbitrage $400M). 
- **Balance Sheet Strength**: Near pre-Callon debt levels 9 months post-acquisition, BBB- rating from S&P, targeting BBB+.

**【Q&A Highlights】**
- **Share Price Concerns**: CEO emphasizes confidence in cost reduction targets ($350M savings by 2027) and asset base durability despite short-term share price underperformance. 
- **Egypt Receivables**: Past due balance stable, expecting progress in 2025. 
- **Suriname Timeline**: FPSO and long-lead items driving front-loaded 2025 capital, Total leading execution for 2028 first oil. 
- **Permian Inventory**: 10+ years of development at 8-rig pace, with Callon acreage adding new inventory through 2029+.


Actual																	-0.13	-0.74	-0.16	-0.05	0.91	0.7	0.98	1.29	1.92	2.37	1.97	1.48	1.19	0.85	1.33	1.15	0.78	1.17	1	0.79	1.06	0.87	0.93	0.91
Forecast																	-0.3339	-0.9903	-0.3393	-0.1023	0.7068	0.5661	0.9282	1.4635	2.1976	2.3258	1.7405	1.2966	0.9829	0.7487	1.0831	1.3784	0.9484	0.8825	0.971	0.9718	0.841	0.4636	0.7927	0.6444
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+61.07%	+25.28%	+52.84%	+51.12%	+28.75%	+23.65%	+5.58%	-11.86%	-12.63%	+1.90%	+13.19%	+14.14%	+21.07%	+13.53%	+22.80%	-16.57%	-17.76%	+32.58%	+2.99%	-18.71%	+26.04%	+87.66%	+17.32%	+41.22%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	1.28B	596.00M	1.14B	1.29B	1.43B	1.78B	1.65B	2.40B	2.67B	2.52B	2.30B	2.07B	2.03B	1.65B	2.31B	1.89B	1.90B	2.54B	2.54B	2.19B	2.61B	2.61B	2.02B	1.67B
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	1.31B	700.33M	994.60M	1.06B	1.48B	1.50B	1.67B	1.93B	2.42B	2.62B	2.38B	2.12B	1.86B	1.74B	2.03B	2.07B	1.89B	2.28B	2.27B	2.29B	2.19B	2.01B	2.06B	1.76B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.42%	-14.90%	+15.02%	+21.83%	-3.13%	+18.70%	-0.95%	+24.75%	+10.43%	-3.63%	-3.39%	-2.15%	+8.85%	-4.96%	+13.52%	-9.14%	+0.91%	+11.29%	+12.11%	-4.26%	+19.25%	+30.25%	-1.98%	-5.44%

APA

APA fundamentals

APA Q4 2025 Earnings

Earnings Call

You can ask Aime

APA

APA fundamentals

APA Q4 2025 Earnings

Earnings Call

APA Earnings Call Summary for Q4/202511:00 AM on Feb 26, 2026

APA Earnings Call Summary for Q3/202511:00 AM on Nov 6, 2025

APA Earnings Call Summary for Q2/202511:00 AM on Aug 7, 2025

APA Earnings Call Summary for Q1/202511:00 AM on May 8, 2025

APA Earnings Call Summary for Q4/202411:00 AM on Feb 27, 2025

You can ask Aime