APA · Full Picture

APA Corp — the full picture

Earnings window · 2026-07-16 to 2026-08-10 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Capital Expenditure Guidance · Capital expenditurePriority 86
    +10.4% operating_income; 3 sources (news, press_release, sec_filing); 3 forward row(s); structured_verified
    The Company expects to invest approximately $2.1 billion in upstream capital investment in 2026.
  2. Operating Expense Trends · Operating expenses (SG&A)Priority 81
    +0.5% operating_income; 2 sources (press_release, sec_filing); 1 forward row(s); structured_verified
    The Company continued cost reduction efforts and raised its expected annualized savings target to $500 million by the end of 2026, an increase of $50 million from its previous guidance.
  3. Revenue Performance and Mix · Revenue growth & mixPriority 77
    +28.6% revenue (realized); 2 sources (press_release, sec_filing); structured_verified
    A 50 percent increase in average realized oil prices increased second-quarter 2026 oil revenues by $688 million compared to Q2 2025, while 10 percent lower average daily sales volumes decreased revenues by $243 million.
  4. Liquidity and Debt Position · Debt, leverage & refinancingPriority 76
    +10.1% cash (realized); 2 sources (news, sec_filing); 1 forward row(s); structured_verified
    APA expects to meet its $3 billion net debt target in 2027.
  5. Headcount / Restructuring · Restructuring & impairmentPriority 68
    quote_verified
    Common shares issued as of June 30, 2026: 492,577,134 shares (492,038,127 shares issued as of December 31, 2025).
  6. Net Income and Profitability · Operating income & profitabilityPriority 68
    -8.9% revenue (realized); 3 sources (news, press_release, sec_filing); quote_verified
    Seeking Alpha presentation reported EPS of $1.89 and revenue of $2.40 billion for Q2 2026, with an 8.15% year-over-year decrease in revenue.
  7. Guidance / Outlook · Guidance & outlookPriority 67
    2 sources (news, press_release); 2 forward row(s); quote_verified
    Full-year 2026 U.S. capital maintained at $1.3 billion while U.S. oil production outlook raised to 123,000 barrels of oil per day
  8. Upstream Production Volume · Demand, orders & backlogPriority 63
    +6.8% assets (realized); 3 sources (news, press_release, sec_filing); structured_verified
    Oil and gas properties as of June 30, 2026: $46,724 million (compared to $45,507 million as of December 31, 2025).
  9. Capital Return Program · Buybacks & dividendsPriority 62
    3 sources (news, press_release, sec_filing); 3 forward row(s); quote_verified
    Company expects to return at least 60% of free cash flow to shareholders in 2026 while also strengthening the balance sheet
  10. Liquidity and Debt Position · Liquidity & cash positionPriority 61
    quote_verified
    APA repaid $752 million of near-term bond debt during the first half of 2026, including $673 million in the second quarter
  11. Income Tax Rate Changes · TaxPriority 59
    2 sources (press_release, sec_filing); quote_verified
    The U.S. enacted the One Big Beautiful Bill Act of 2025 (OBBBA) on July 4, 2025, which expanded and made permanent 100 percent bonus depreciation for eligible assets acquired and placed in service after January 19, 2025; the Company does not expect OBBBA to have a material impact on total tax expense for the year ended December 31, 2026.
  12. Interest Rate and Refinancing Exposure · Interest ratesPriority 55
    quote_verified
    Total debt has declined by $2.3 billion since year-end 2024, lowering annualized interest expense by more than $155 million

Threads by pillar

Revenue & Demand Priority 85 · 3 threads

Costs & Margins Priority 91 · 5 threads

Capital & Balance Sheet Priority 95 · 6 threads

Strategy & Portfolio Priority 60 · 3 threads

Legal, Regulatory & Policy Priority 41 · 1 thread

Guidance & Outlook Priority 69 · 2 threads

Macro & Market Conditions Priority 68 · 3 threads

Unclassified Priority 70 · 4 threads

Expected impact by metric

metricforward netforward grossrealized
operating_income+12.0%+12.0%-65.2%
cash-6.0%+6.0%-1.2%
assets+1.1%+1.1%+6.1%
liability——+6.1%
net_income——-42.3%
revenue——+16.8%