APA Q1 2025 Earnings
Reported May 8, 2025 at 10:08 AM ET · SEC Source
Q1 25 EPS
$1.06
Q1 25 Revenue
$2.64B
vs S&P Since Q1 25
+132.6%
BEATING MARKET
APA +160.3% vs S&P +27.7%
Market Reaction
Did APA Beat Earnings? Q1 2025 Results
APA Corporation delivered a notably stronger first quarter in 2025, with adjusted earnings of $1.06 per diluted share on revenue of $2.64 billion, as accelerated drilling efficiencies across the Permian Basin gave the company more financial flexibili… Read more APA Corporation delivered a notably stronger first quarter in 2025, with adjusted earnings of $1.06 per diluted share on revenue of $2.64 billion, as accelerated drilling efficiencies across the Permian Basin gave the company more financial flexibility than it had anticipated entering the year. The single biggest driver was a dramatic expansion in cost savings, with APA more than doubling its 2025 target to $130 million from a prior $60 million estimate while pushing annualized run-rate savings to $225 million by year-end. That momentum allowed management to cut full-year development capital guidance by $150 million and trim exploration capital by $25 million without sacrificing U.S. Oil production guidance, held firm at 125,000 to 127,000 barrels per day. Subsequent to the quarter, APA agreed to sell its New Mexico Permian assets for $608 million, with proceeds directed primarily toward reducing net debt, which stood at $5.30 billion at quarter-end, reinforcing a broader strategic pivot toward core assets and balance sheet discipline.
Key Takeaways
- • Significant drilling efficiency gains in the Permian Basin reducing capital requirements
- • Strong Egypt gas drilling program outperformance leading to higher gas price realizations
- • Oil production revenues increased to $1.6 billion from $1.4 billion year-over-year
- • Purchased oil and gas sales nearly tripled year-over-year to $597 million
- • Exploration expense declined sharply to $30 million from $148 million (primarily lower dry hole costs)
- • Gain on extinguishment of debt of $142 million before tax
APA YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
APA Revenue by Segment
With YoY comparisons, source: SEC Filings
“We have achieved substantial capital savings, particularly due to efficiency gains in Permian drilling, and are also making good progress on both completions and facilities. On the G&A front, we are streamlining our organizational structure and reducing discretionary third-party spend, as we simplify how we manage our assets.”
— John J. Christmann IV, Q1 2025 Earnings Press Release
APA Earnings Trends
APA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
APA EPS Trend
Earnings per share: estimate vs actual
APA Revenue Trend
Quarterly revenue: estimate vs actual
APA Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.73 | $0.91 | +25.21% | $1.99B | -8.38% |
| FY Full Year | $3.50 | $3.77 | +7.56% | $8.92B | -2.00% |
| Q3 25 BEAT | $0.79 | $0.93 | +17.59% | $2.12B | +0.40% |
| Q2 25 BEAT | $0.48 | $0.87 | +81.51% | $2.18B | +5.55% |
| Q1 25 | — | $1.06 | — | $2.64B | — |