APA Corp. (APA) Surges 9% on Strong Earnings

We recently published 10 Stocks on Fire Amid Market Chaos. APA Corp. (NASDAQ:APA) is one of the best-performing stocks on Thursday.

APA snapped a three-day losing streak on Thursday, jumping 9.14 percent to close at $23.64 apiece as investors cheered its return to profitability in the third quarter of the year.

Based on its financial statement, APA Corp. (NASDAQ:APA) swung to a net income attributable to shareholders of $205 million from a $223 million net loss in the same period last year.

Total revenues increased by 16.4 percent to $2.115 billion from $2.531 billion year-on-year on the back of strong revenues from oil and natural gas production.

Photo by Zbynek Burival on Unsplash

Reported production stood at 464,000 boe/pd while adjusted production, which excludes Egypt’s non-controlling interests and tax barrels, was at 387,000 boe/pd.

Oil production in the US, on the other hand, ended at 121,000 barrels per day.

Both operations in the US and Egypt exceeded the company’s production guidance.

In line with its cost-saving measures, APA Corp. (NASDAQ:APA) said that it is set to achieve by the end of the year its run-rate savings target of $350 million, two years sooner than originally anticipated. It also expects to recognize between $50 million and $100 million by the end of 2026.

“Our strong third-quarter results demonstrate our continued focus on operational execution, disciplined cost management, and the delivery of our strategic priorities,” said APA Corp. (NASDAQ:APA) CEO John Christmann IV.

“Once again, we exceeded production guidance across all operating areas, continued to deliver cost savings initiatives ahead of schedule and further strengthened our balance sheet. We believe the progress we have achieved in 2025 is sustainable and provides great momentum for the future,” he noted.

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Disclosure: None. This article is originally published at Insider Monkey.