APA Corporation observed a decline in its profits for the first quarter of the year, a position that fell short of Wall Street's expectations. The company recorded a bottom line of $132 million, translating to $0.44 per share. This stands in contrast to the previous year's first quarter figures, which were $242 million or $0.78 per share.
When special items were excluded, APA Corporation marked adjusted earnings of $237 million or $0.78 per share for the period. However, analysts had predicted the company would earn $0.94 per share, as compiled by Thomson Reuters. It's worth noting that these predictions typically exclude special items.
As for the company's quarterly revenue, it fell by 3.0%, down to $1.95 billion from $2.01 billion last year.
In summary, from a Generally Accepted Accounting Principles (GAAP) perspective, the first quarter earnings for APA Corporation are as follows: Earnings for Q1 are $132 million, down from $242 million last year. Earnings per share (EPS) for Q1 are $0.44, decreased from last year's $0.78. Revenue for Q1 is $1.95 billion, a decline from $2.01 billion last year.
