$APA · APA Corp
APA Corporation filed an 8-K (Item 2.02) announcing Q3 FY2026 results. Net income attributable to common stock was $698M, or $2.00 diluted EPS ($1.94 adjusted); revenue was $2.769B. Production of 450,000 BOE/day exceeded guidance, free cash flow was $699M, and the company raised FY26 FCF guidance to ~$2.9B while lowering its net debt target to $2B.
- Q3 net income $698M, or $2.00 diluted EPS ($1.94 adjusted).
- Revenue $2.769B; adjusted EBITDAX $1.86B; free cash flow $699M.
- FY26 free cash flow outlook raised to ~$2.9B, up $600M from August.
- Returned $537M to shareholders, including $450M of share repurchases.
- Net debt target lowered to $2B; total debt down $2.8B since year-end 2024.
Stock fell 6.87% in regular trading to $44.49, but extended-hours last trade of $44.80 (+0.70% vs close) suggests a modestly positive after-hours reaction to the beat and raised guidance.
APA beat on production and raised FY26 free cash flow guidance by $600M while accelerating shareholder returns and debt reduction.
APA's raised FCF outlook and debt-reduction focus align with the E&P sector's shift toward shareholder returns and balance-sheet discipline amid higher commodity prices.
Production sharing contract impacts tied to higher Brent prices lowered adjusted production; forward guidance depends on commodity prices and GranMorgu first oil timing (mid-2028).